Published: Wed, March 29, 2017
Research | By Elizabeth Houston

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

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

Ford is expected to say it will invest in three MI manufacturing plants.

"Major investment to be made in three MI plants", Trump posted on Twitter early Tuesday.

"Car companies coming back to US", the president added.

Joseph Hinrichs, Ford's president for the Americas, said in an interview that the company reached out to Trump shortly before 8 a.m. this morning about the announcement, so it is unclear what prompted the president's 140-character missive at 6:36 a.m.

Ford will spend $150m on its Romeo plant to boost its ability to make auto parts, and $200m will be ploughed into a new data centre.

Ford Motor Co.is determined to avoid a glut of unsold cars and trucks piling up on dealer lots by trimming production - even if US vehicle volumes are relatively healthy compared with the rest of the industry.

Ford will also invest $150-million at the Romeo Engine Plant in Macomb County to expand capacity for engine components for several vehicles, including the Ranger and Bronco.

The investments come on top of a January announcement by Ford that it would sink $700 million into electric and self-driving cars at its plant in Flat Rock, Michigan, creating 700 jobs.

In January, Ford scrapped plans to build a $1.6 billion auto factory in Mexico and instead added 700 jobs in MI following Trumps criticism that centered on trade and investing in America.

- This report was updated at 10:32 a.m.

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Ford said last week it expected higher investments, as well as other spending, to weigh on 2017 earnings.

That investment comes as more USA consumers are buying large vehicles; trucks and SUVs made up about 60 percent of new vehicle sales in 2016.

"Today's announcement is further proof of Ford's commitment to producing in MI and the United States", she said.

"We want to be the auto capital of the world again", Trump said during a speech to autoworkers.

DETROIT (AP) — Ford Motor Co.is investing $1.2 billion in three MI facilities, including an engine plant where it plans to add 130 jobs.

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.

Ford Chief Executive Officer Mark Fields has made several visits to the White House to meet with the president, and investment announcements by automakers have become fodder Trump cites as evidence he's helping the US economy.

Ford is also investing $200 million in a data center in MI. Instead the Focus production will shift to an existing Mexico plant.

Here's what's behind Ford's announcement. "JOBS! JOBS!", the president tweeted.

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