The promised investment at 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.
adding 3,000 jobs at two factories in metro Detroit
The company said Tuesday that about $750 million will go the Michigan Assembly Plant in Wayne, where 2,700 jobs will be added during the next three years. Joe Hinrichs, Ford’s president of Automotive, touted the local Michigan investment while highlighting the bets the company is making on its present and future.
Ford's third-quarter 2019 sales were down 4.9%, from 609,934 vehicles to 580,251, compared with the same quarter a year ago, with drops in car sales but increases in trucks and the Lincoln brand. But this comes as Ford has been shifting its production away from cars to focus on more profitable trucks and SUVs.
The plant is expected to get a total investment of $1.1 billion over the four-year life of the contract, which would include adding stampings for a new Mustang.
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