A Ford Escape is displayed on the sales lot at a Ford dealership in San Mateo, Calif.(Photo: Justin Sullivan, Getty)
Car major Ford Motor Company on Thursday said it would spend more
than $773 million on expanding its manufacturing facilities and create
2,350 new jobs in its home state of Michigan as part of a plan to invest
$6.2 billion and add 12,000 new positions by 2015.
"Even as we
wrap up an incredibly busy year of capacity expansions and product
launches, we are continuing to look to the future," said Jim Tetreault,
Ford vice president of North America Manufacturing.
investments, many of which are already under way, will ensure our
southeast Michigan manufacturing facilities can support our aggressive
Some of the plants that the company will be making
investments in, include: Michigan Assembly Plant ($59.4 million);
Dearborn Stamping Plant ($305 million); Flat Rock Assembly ($161
million); and Sterling Axle Plant ($86 million).
Ford said the
investment will also allow it to save an additional 3,240 jobs. The
company, which is based in Dearborn, Mich., currently has about 172,000
employees and 65 plants worldwide.
Ford's shares closed up over 3% on Wednesday, extending a recent run higher.