Ford Announces New Investment, More Jobs Coming to Michigan
Update: Feb 6-17, 2023
On February 13, Governor Gretchen Whitmer, alongside Ford’s Executive Chair Bill Ford and CEO Jim Farley, announced Ford’s $3.5 billion investment into the state to build an electric vehicle battery manufacturing facility. This help contribute to Ford’s goal to produce two million electric vehicles annually by 2026.
Located in Marshall, the 2.5 million square foot plant is expected to create 2,500 jobs in the region. These jobs are estimated to create more than $29.7 billion in new personal income over the span of twenty years with the help of expected spin-off investment and redevelopment opportunities.
The Michigan Strategic Fund (MSF) approved $210 million for the Critical Industry Program, $772 million for the MSF Designated Renaissance Zone, and $36 million for the Marshall Area Economic Development Alliance.