Skip to comments.Ford cancels Mexico plant. Will create 700 U.S. jobs in 'vote of confidence' in Trump
Posted on 01/03/2017 8:47:52 AM PST by MaxistheBest
Ford is canceling plans to build a new plant in Mexico. It will invest $700 million in Michigan instead, creating 700 new U.S. jobs.
Ford (F) CEO Mark Fields said the investment is a "vote of confidence" in the pro-business environment president-elect Donald Trump is creating. However, he stressed Ford did not do any sort of special deal with Trump.
"We didn't cut a deal with Trump. We did it for our business," Fields told CNN's Poppy Harlow in an exclusive interview Tuesday. He said Ford did speak with Trump and vice-president elect Mike Pence this morning. Powered by SmartAsset.com
The $700 million investment will go to the Flat Rock, Michigan plant to produce more electric and self-driving cars. Ford believes electric vehicles will outsell gasoline-powered vehicles within the next 15 years. "I am thrilled that we have been able to secure additional UAW-Ford jobs for American workers," said Jimmy Settles, United Auto Workers vice president. Ford is planning to roll out seven new electric vehicles in the next five years, including a Mustang Hybrid. Related: Sprint will create 5,000 U.S. jobs
The news is a major U-turn for Ford. Last year, the company announced it would invest $1.6 billion in Mexico to transfer the production of the Ford Focus from Michigan to Mexico to save costs. Now the Focus will be built at an existing plant in Hermosillo, Mexico, and Ford will expand its plant in Flat Rock.
"Our announcements today are really a vote of confidence in the [U.S.] economy," said Fields.
(Excerpt) Read more at money.cnn.com ...
Amazing we survived eight years of Obummer.
Barky: “What, what, what how is he going to do this with a magic wand?”....
ROFLMAO...to you Barky, the loser, the liar in chief, the crook, the racist, the snark who thought he was all that and more, trying to be to cute by half....ROFLMAO!!! What a jackass and more...
What else do you expect when the US corporate income tax rate will likely drop from 35%—just about the highest in the world—to a much more reasonable 15%?
Win for a lot more than 700.
I am still NOT tired of WINNING! :-)
It looks like UAW is taking the credit.
I remember she was the one who passed on on air once when she was pregnant or something, but hearing this news would have pretty much put ME on the floor!
The Shell lubes rep told me a couple hundred jobs and two or three small shops closed in St. Paul, MN when American Hoist closed back in the 80s...
The best thing about this is that Ford seems to be doing this on faith that Trump will continue to promote a pro-business climate in the US. No long list of tax breaks and taxpayer-funded incentives, just the real hope that our country will stop punishing businesses for creating and keeping jobs here. Winning!
If the election where held over again today, Trump would win Michigan by 10% or more...same with Wisconsin, Iowa and Pennsylvania.
I’ll say it again...the American people will start to ask the question..”Why wasn’t this done over the last 8 years?” “What did the Obama administration do for 8 years?”
At some point the MSM will have to get on board to some degree to avoid looking like the Obama pimps that they really are. Steve Bannon was right...if they do what they have promised the American people, they will hold power for 50 years.
With overtime, many manufacturing jobs become $70-80k jobs or more :)
Winning, and DJT isn’t even president yet.
This is fantastic news!
# TRUMP WINNING.
And Obama suggested or stated such things could not be stopped. What a loser. Go Trump!
Trump is the first real leader we’ve had in decade. He created a vision of American jobs staying here and companies are falling into line because a) regulations will be fewer and the tax rate reduced, b) it’s now bad PR for a company to take jobs out of the US, and c) I would like to think that there’s an altruistic motivation by some CEOs and corporate boards.
Atta boy Jimmy. Spin for all it's worth you cockroach.
No altruism here. The Ford Motor Company sells cars and will advertise 'Made in America' and earning a profit is not a bad motive.
As a great man once said, it seems like it is Morning Again In America :)