By Staff
LANSING -- Michigan Gov. Jennifer M. Granholm announced another major manufacturing win today with Ford Motor Company's plans to reinvest in its two Wayne assembly plants. This new investment continues a positive manufacturing industry trend with more than 32,000 jobs retained or created in Michigan since the beginning of the year.
Ford is among recent manufacturing successes that include major investments by American Axle in Three Rivers, General Motors Willow Run facility in Ypsilanti and Global Engine Alliance in Dundee. Michigan's new manufacturing projects in 2003 are expected to generate more than $2.3 billion in private investment.
"Ford's plant reinvestment is just one example of Michigan's recent manufacturing successes, proving that we can compete in the global market place and secure important manufacturing jobs," Granholm said. "This great win provides more momentum for us to build on with our continued focus on manufacturing."
The Michigan Manufacturing Summit on December 8th will bring together key business and labor leaders representing the manufacturing industry to engage with the Governor to identify the most critical issues facing the industry.
The leaders will explore possible solutions and make recommendations as part of her Manufacturing Matters initiative.
Assistance from the Michigan Economic Development Corporation (MEDC) helped convince Ford to substantially modernize and retain its operations in western Wayne County.
The Ford Wayne site currently employs 7,029 at two assembly plants, which together produce the Focus, Expedition and Navigator models. The new project would update Focus production facilities at the site. When the product transfer is complete, the Wayne Stamping and Assembly plant will be the sole producer of all North American Ford Focus brand vehicles.
Ford Motor Co. is the world's second largest producer of cars and trucks. Ford sells vehicles in more than 200 countries and territories and has manufacturing facilities in six continents.
"Ford has long been a part of the Michigan family," Granholm added. "Michigan's manufacturing know-how and our commitment to working as a team with industry, labor, and higher education to continuously improve our business climate, remain highly competitive, and strengthen our workforce is moving our state forward."
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life. For more information on the Michigan Economic Development Corporation's initiatives and programs, visit the Web site at www.michigan.org.
Ford Motor Company
Wayne Assembly Plant
Economic Analysis
Summary Estimates
(All estimates in 2003 dollars)
TOTAL JOBS RETAINED 11,426
Direct 2,662
Indirect 8,764
NET POSITIVE STATE REVENUE IMPACT $ 969,854,000
Revenue Foregone $ 48,833,000
Revenue Gain $ 1,018,687,000
Average Wage $ 967/week
Personal Income Generated Over
Life of the Tax Credit Agreement $13,246,904,000
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