Saturday, December 11, 2010
Ford investing $600M in Louisville plant for next-gen Escape
Ford's Louisville plant is old and out-of-date, but that's about to change with a $600 million cash infusion. Ford says that the forthcoming overhaul will make the facility the automaker's most flexible plant in the world, while adding an additional 1,800 union jobs to handle increased production.
Construction at the facility will commence later this month, with new tooling and equipment pouring in. Ford will re-open the Louisville plant in late 2011, in time to produce the next-generation Escape while "providing future manufacturing flexibility." In other words, Ford will be able to add other models to the facility as demand shifts.
News of Ford's Louisville plant upgrade is likely good for those who live and work in the region, and the state of Kentucky is showing its appreciation with tax incentives. Ford will receive up to $240 million in tax breaks over the next 10 years. Hit the jump to read over Ford's press release.
[Source: Ford]Permalink | Email this | Comments