Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Ford to bring 1,200 jobs to Michigan

By Jessica Dickler, staff writer


NEW YORK (CNNMoney.com) -- Ford Motor company said it will create up to 1,200 jobs in the distressed state of Michigan as it ramps up its engineering and manufacturing operations to produce more fuel-efficient cars.

Lured by state tax incentives, the automotive company announced Monday it plans to invest $850 million in new fuel-saving technologies between 2011 and 2013.

Ford's (F, Fortune 500) stock closed 1.4% higher.

The funds would generate hundreds of new full-time positions in manufacturing and engineering operations in Michigan by 2013, according to a statement released by the company.

Approximately 900 of those jobs would be hourly positions in Ford's Michigan manufacturing facilities, and the rest would be salaried positions in the engineering and manufacturing operations, the company said.

The unemployment rate in Michigan was 13% in September, the second highest in the nation, according to the Labor Department.

"We are pleased to work with state and local government leaders to find new ways to ... invest in our people as well as Ford facilities, further improve our competitiveness and secure jobs in Michigan," Mark Fields, Ford's president of The Americas, said in a statement.

"Promoting investments in technologies, facilities and our workforce ultimately will help revitalize manufacturing in Michigan and help Ford compete with the best in the business worldwide," Fields said.

The plan is awaiting approval by The Michigan Economic Development Council. Once approved, the funds will be allocated across a variety of plants including Van Dyke Transmission, Sterling Axle, Livonia Transmission and Dearborn Truck Plant. To top of page

Search for Jobs

Index Last Change % Change
Dow 17,873.22 44.93 0.25%
Nasdaq 4,933.51 31.74 0.65%
S&P 500 2,099.06 8.96 0.43%
Treasuries 1.85 0.03 1.54%
Data as of 4:19am ET
Company Price Change % Change
Bank of America Corp... 14.88 0.18 1.22%
Coca-Cola Enterprise... 51.55 0.69 1.36%
Baxalta Inc 45.53 -0.17 -0.37%
Apple Inc 100.35 -0.06 -0.06%
Micron Technology In... 12.31 0.36 3.01%
Data as of May 27
Sponsors

Sections

Jean-Claude Decaux, the French businessman who produced the first automatic public toilets, died at the age of 78. More

Janet Yellen hinted again Friday that a June or July interest rate hike is a very real possibility. More

The FBI has opened a national security investigation into the hacking of Bangladesh's central bank amid signs that the hack might have come from North Korea. More

The gender pay gap in the labor market is pretty well documented. But the gender gap also exists in the housing market. More