Ford investing $1.2B in 3 Michigan plants, adding 130 jobs

Ford investing $1.2B in 3 Michigan plants adding 130 jobs

Ford said Tuesday it will invest $1.2 billion in Michigan at three locations, including $850 million at its Michigan Assembly plant to make the new Ford Ranger and Ford Bronco, as the US market continues to shift from a vehicle market to a truck and SUV market.

Ford has said it will spend $1.2bn (£1bn) as part of a planned upgrade of three MI plants.

The company had signaled its basic intentions in this regard even before Donald Trump began campaigning on the issue of Ford outsourcing its small-car production to Mexico.

Three Ford factories in MI could receive over a billion dollars, according to sources.

Two weeks ago, the president visited MI and touted "a new industrial revolution" when he met with auto company execs and workers. Automotive News reports that the Blue Oval's vehicle plants are the most likely to see downtime, like Ford's Michigan Assembly Plant in the U.S. and its Cuautitlán Assembly Plant in Mexico.

"So far we have announced more than United States dollars 4.7 billion of investment", she said, but the data center was not included in the contract as it does not included any new jobs.

In January, Ford abandoned plans for a $1.6 billion vehicle factory in Mexico and instead added 700 jobs in MI following criticism by President Donald Trump over American jobs leaving the United States due to poorly negotiated trade agreements.

The automaker's announcement was previewed in an early morning tweet from Trump, who two weeks ago urged vehicle companies to follow his pledge for eased regulations with more hiring.

Higher investment and commodity costs, slower sales primarily due to a pullback in deliveries to fleet customers and unfavorable exchange rates are among the factors Ford cited for its expected earnings slump in the first quarter.

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In today's truck-centered USA model, analysts say, that strategy is far more likely to retain and even grow jobs.

"If you look at the investments we've announced so far this year in MI, they capture what's going on right now in the business", Hinrichs said.

Ford will invest another $150 million and add 130 jobs at its Romeo Engine plant.

Locally, Ford is investing $200 million for an advanced data center to be built in Flat Rock.

Thats according to The Detroit News, which reports three anonymous sources familiar with the automakers announcement.

The board of the Michigan Strategic Fund, which makes decisions about tax incentives for economic development projects, on Tuesday approved an economic development incentive package of just over $20 million over 15 years.

"We're going to do some wonderful work with you but you're going to have to help us with jobs", he said.

Top Trump adviser Kellyanne Conway also touted the announcement. Because big vehicles tend to fetch big sticker prices, automakers can profitably manufacture them in the US while smaller vehicles are increasingly built in Mexico and other countries where labor is cheaper.

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