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DETROIT, Feb. 13 (AP) — Ford Motor Co plans to build a $3.5 billion electric vehicle battery plant about 100 miles (160 kilometers) west of Detroit that will employ about 2,500 people.
The plant was unveiled Monday at a Michigan Strategic Fund meeting, which approved a large tax incentive package for projects near Marshall City.
It will be built on a site ready for industrial development near the junction of Interstates 94 and 69.
“There’s no shortage of competition for this project,” said Gabby Bruno, Ford’s director of economic development.
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She said Michigan “competes with many states and countries” to secure investment.
Ford has scheduled a press conference for the EV announcement later on Monday.
About $210 million for the Ford plant came from Michigan’s Strategic Outreach and Attraction Reserve Fund, or SOAR, which seeks to attract industry and jobs to the state. But the total size of the incentive package is unclear.
Since it was first created in December 2021, the SOAR Fund has received nearly $1.8 billion from the state’s general fund.
A tax cut bill passed by the Michigan House of Representatives last week could provide as much as $1.5 billion to the SOAR fund over three fiscal years, and Gov. Gretchen Whitmer outlined in her budget proposal last week A one-time deposit of $800 million.
The tax cut bill still needs to be approved by the state Senate, where Democrats hold a two-seat majority and where Republicans have sharply criticized giving too little to taxpayers and too much to big corporations. (Associated Press)
(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)
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