Ford to spend $866M in Mich. |
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Tue, 09 Jan 2007 19:19
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LIVONIA, Mich. - Ford Motor Co. announced Tuesday that it is investing $866 million in six Detroit-area plants.In addition, Ford will receive state incentives of up to $151 million and could get that amount matched by local governments.The investments in flexible manufacturing and advanced powertrain production will help the Dearborn-based automaker grow its small-car lineup, produce more fuel-efficient transmissions and install additional manufacturing equipment for truck production, officials said.'Michigan is our home, and here we are giving our plants and our people an opportunity to be the best and to build the best vehicles in the world,' said Mark Fields, Ford's president of the Americas.Ford announced in August its intention to invest up to $1 billion in its Michigan operations. The investment announced Tuesday represents the first part of that commitment.The $151 million in tax abatements and other incentives being provided by the Michigan Economic Development Corp. is based on Ford's billion-dollar commitment and is the first major multisite incentive package ever offered by the state.Local governments also have offered, or are considering offering, another $150 million to $170 million in incentives.The $866 million being put up by Ford will be spent at the Wayne Stamping and Assembly Plant, the Van Dyke Transmission Plant in Sterling Heights, the Woodhaven Stamping Plant, the Dearborn Stamping Plant, the Truck Plant and the Glass Plant at the Rouge manufacturing complex in Dearborn and the Livonia Transmission Plant, where Ford made its announcement Thursday.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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