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President Trump’s economy is undeniably booming.
As more proof of that, Ford Motor Company, which produces vehicles right here in the USA, is growing.
Ford has just announced that they will be adding a whopping 3,000 jobs to their manufacturing plants around the Detroit, MI area.
Check it out:
Fox 6 has more to say about Ford's expansion in Detroit:
Ford Motor Co. is adding 3,000 jobs at two factories in the Detroit area and investing $1.45 billion to build new pickup trucks, SUVs, and electric and autonomous vehicles.
The company said Tuesday that about $750 million will go the Michigan Assembly Plant in the Detroit suburb of Wayne, where 2,700 jobs will be added during the next three years.
Another $700 million will be invested in the truck plant in Dearborn, Michigan, where 300 new jobs will be added.
Hiring will begin next year.
The large investment comes as the U.S. new vehicle sales cycle has peaked and appears to be leveling off around 17 million vehicles per year. But Ford needs to make the investment in new products in an effort to increase market share and prepare for a shift to new propulsion and autonomous vehicle technologies.
USA Today also said:
Ford Motor Co. is adding 3,000 jobs at two factories in metro Detroitand investing $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 at the two plants comes with more than $35 million in tax incentives, most of which is related to a 10-year income tax capture valued at up to $26 million. The company's commitment, according to the Michigan Economic Development Corp., is to create or maintain at least 3,000 jobs with an average annual wage equal to or greater than $61,047, which is the regional average.
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.
Another $700 million will be invested in the truck plant in Dearborn, where 300 new jobs will be added.
Hiring will begin next year.
In its new deal with the UAW, negotiated this fall, the company has committed to adding or retaining 8,500 jobs with investments at 19 U.S. facilities.
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.
“At Ford, we are investing aggressively in building on our strengths today – including trucks and SUVs – while at the same time expanding our leadership into electric and autonomous vehicles,” Hinrichs said in a news release.