Ford to invest $1 billion in Chicago plant

Ford after $1 billion investment in Chicago Source: Bloomberg

Ford has announced plans to invest $1 billion in its plants in Chicago. The investment is expected to create 500 new jobs.

Why is Ford investing $1 billion in Chicago?

Ford is having success with sales of its Explorer and Lincoln Aviator models, and will expand production of the sport utility vehicles(SUVs). To make more of the SUV’s, the carmaker will finance the $1 billion expansion into the existing plants,manufacturing facilities in Chicago, and building new body and paint shops. Complete overhauls of the plants and completions of the news buildings will be completed by summer.

Joe Hinrichs, Ford’s president of global operations, noted that the makeovers for the facilities will help to manufacture the new cars.

‘When it’s all finished, Chicago Assembly[plant] will have an all-new, state-of-the-art body shop, an all-new paint shop and new tooling to build this new lineup. And the Chicago Stamping Plant will have all new lines to support the new vehicles,’ said Hinrichs.

Ford is touting this investment as a promise to US autoworker unions to create more American jobs.

‘We are furthering our commitment to America with this billion-dollar manufacturing investment in Chicago and 500 more good-paying jobs’, said Hinrichs.

Ford spokeswoman, Kelli Felker, echoed the pledge to keep more of the corporation's jobs in the US, and Chicago in particular.

‘More jobs is always a good thing for everybody. We've actually been here in Chicago for over 100 years. We've very excited to keep up our commitment,’ said Felker.

What’s next for Ford?

Ford is confident that this latest venture will help increase its SUV sales in the future.

‘We are proud to be America’s top producer of automobiles. We reinvented the Explorer from the ground up, and this investment will further strengthen Ford’s SUV market leadership,’ said Hinrichs.

Ford’s latest investment will hopefully help the automaker increase profits after a successful Q4 earnings report. The automaker will also probably help the US economy by creating more jobs.

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