Ford Motor invests $700 million in Kentucky vehicle plant

Ford Motor invests $700 million in Kentucky vehicle plant and provides 500 additional hourly jobs in order to support the production of new vehicles.

This investment is a part of the Ford+ plan for the company’s growth and value creation. Ford announced that the investment is also aimed at supporting a brand new F-Series Super Duty pickup produced at the plant located in Louisville, Kentucky.

According to Kumar Galhotra, Ford Blue president, “the Ford company has started its growth in Kentucky since the model T, and it continues to invest in the Bluegrass state in order to produce great vehicles, which our customers love and depend on”.

Yesterday, on September 27, a supplemental project to an existing program agreement with Ford was approved. It can offer the plant up to $430 million as accumulated reduction in taxes, based on the company’s overall sum of investments of $3.65 billion. Also, within the term of the agreement, an annual job target requirement is up to 12,500.