Ford Negotiates $25 Million Incentives Package in Kentucky
OREANDA-NEWS. Ford received approval of $25 million in additional tax incentives from Kentucky today to support continued investment in the Kentucky Truck and Louisville Assembly plants. Ford will invest an additional $600 million to support facility upgrades and new machinery and tooling, mainly for the Kentucky Truck Plant.
The incentives, based on job and investment commitments, are part of a previously negotiated package of $290 million, bringing the total support from Kentucky to $315 million.
“Ford has thrived in Kentucky, thanks to a great workforce and business environment,” said Gabby Bruno, regional manager, Government Relations. ‘We appreciate Kentucky’s support to encourage our continued investment in the state.”
“As one of our most valued partners, Ford represents a pillar in our state’s economy and the Kentucky automotive industry,” said Erik Dunnigan, acting secretary of the Kentucky Cabinet for Economic Development. “The state, city of Louisville and Ford continue to work hand in hand on a variety of projects that benefit both the company and the people of Kentucky. This recent amendment to Ford’s economic development incentive package helps set the stage for potential future projects.”
Ford announced an investment of $1.3 billion and an additional 2,000 new jobs at Kentucky Truck for production of the all-new F-Series Super Duty truck in December. That investment follows more than $1.8 billion in retooling and expansions at Ford’s Kentucky facilities over the past decade.
Ford began manufacturing vehicles in Kentucky in 1913 and is the state’s largest manufacturer with more than 9,500 employees at its two Louisville plants. Employees at the two facilities build more than 650,000 vehicles a year for sale in the U.S. and markets around the world.
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