EV Battery Plant Could Have $650M Economic Impact
The estimated total economic impact of the Ultium plant at full production (2027) is $652 million annually. The Ultium facility will create or support an estimated 2,888 jobs annually in St. Joseph County. This represents wages' direct, indirect, and induced effects on the community. No final decision has been made, Ultium is still in the process of building a business case to support locating an EV battery plant in St. Joseph County.
The South Bend Regional Chamber (SBRC) uses IMPLAN, an economic modeling software that enables us to measure the impact of a specific event on our community. IMPLAN models the ripple effect of potential or existing investments. The economic impact analyses offer valuable information on many levels and across all industries. SBRC consulted with the IMPLAN team on the Ultium project to ensure the model was accurate and provided the best representation of the facility's financial impact on St. Joseph County. SBRC chose to model only the labor income impact; operational costs outside wages are not included in the model.