Ford Motor Company has earmarked some $2.4 billion for investment into its plants in Louisville, Kentucky – the Louisville Assembly Plant, and the Kentucky Truck Plant – with hints that still more investments could arrive later.
According to the Courier-Journal, Ford has just been approved to receive $315 million in tax incentives for its upgrade plans and hiring initiatives. On Thursday, Ford changed its job-retention agreement with the state, increasing its target from 8,700 to 11,200 jobs retained through late 2021.
While Ford’s investment plans in Louisville were largely known since last December, the automaker’s original proposal and subsequent amendments put their level of investment around $1.8 billion between Louisville Assembly and Kentucky Truck. The additional $600 million announced will go toward upgrading the Kentucky Truck Plant for production of the new, 2017 Ford F-Series Super Duty, as well as the plant’s other two models: the Lincoln Navigator, and the Ford Explorer.
A statement from Ford Director of Government Relations Gabby Bruno said: “We look forward to continued collaboration to ensure our Louisville facilities remain globally competitive for the next century – and we will announce additional product investment details at a future date.”