Ford Motor to Add 3,000 Jobs at Two Factories in Metro Detroit and Investing $1.45 Billion to Build New Pickups
Ford Motor Co. is adding 3,000 jobs at 2 factories in metro Detroit and investing up to $1.45 billion to build new pickups, SUVs, and electric and autonomous vehicles, bringing into clearer focus the $6 billion in investments promised in its new contract with the UAW.
The promised investment on the two plants comes with more than $35 million in tax incentives, most of which are related to a 10-year income tax capture valued at up to $26 million. The corporate’s commitment, in accordance with the Michigan Economic Development Corp., is to create or keep at the least 3,000 jobs with an average annual wage equal to or higher than $61,047, which is the regional average.
The company stated Tuesday that about $750 million would go to the Michigan Assembly Plant in Wayne, where 2,700 jobs will likely be added through the next three years. Another $700 million might be invested within the truck plant in Dearborn, where 300 new jobs will probably be added.
In its new cope with the UAW, negotiated this fall, the company has committed to adding or retaining 8,500 jobs with investments at 19 U.S. services. Joe Hinrichs, Ford’s president of Automotive, touted the local Michigan investment, whereas highlighting the bets the corporate is making on its present and future.
Ford’s third-quarter 2019 sales had been down 4.9%, from 609,934 vehicles to 580,251, in contrast with the same quarter a year ago, with drops in gross car sales; however, it will increase in vehicles and the Lincoln model. However, this comes as Ford has been shifting its production away from cars to concentrate on more profitable vehicles and SUVs.
The F-150 is the top-selling automobile within the U.S. and is Ford’s franchise, generating a lot of the company’s profits.