Kentucky plant to work on next-generation Ford Escape


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A Ford Motor Company ( F ) plant will reopen next year in Kentucky after the car manufacturer earmarks $600 million to upgrade it and creates 1,800 jobs to staff it, Reuters reports .

The Louisville Assembly Plant is tasked with manufacturing the next generation of the Escape, Ford's small sports utility vehicle. The plant's entire workforce will amount to 2,900 when it's fully staffed, and those employees will build vehicles in addition to the small-size sports utility vehicle.

"We are building in the flexibility to produce other vehicles at the plant in the future, depending upon volume requirements, customer preferences and other factors that affect vehicle demand," Jim Tetreault, Ford's vice president for North American manufacturing, told Reuters.

In order to acquire the privilege to host the plant building the new Escape, Kentucky and local governments devoted about $240 million in tax incentives to Ford over the next 10 years, according to Ford.

Ford already has an idea as to what the next generation Escape will look like, which will be revealed at next month's Detroit auto show.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Personal Finance Business
Referenced Stocks: F

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