Ford to invest $700 million in Kentucky truck plant, bring 500 jobs

by SpeedLux
Ford Motor logo

Ford Motor said Tuesday it is going to invest $700 million and add 500 jobs at its Kentucky plant to support the production of its new 2023 model year F-Series Super Duty truck.

The automaker and its South Korean battery partner SK Innovation said last year in September that they would invest $11.4 billion for building an electric F-150 assembly plant and three battery plants in the United States.

The companies said they will spend $5.8 billion in Kentucky, and $5.6 billion in Tennessee.

The Kentucky JV will bring 5,000 jobs.

The Kentucky Economic Development Finance Authority (KEDFA) approved a supplemental project to the present agreement with Ford on Tuesday. It can provide up to $430 million in cumulative tax incentives based on the automaker’s total cumulative investment of $3.65 billion with a yearly job target requirement of up to 12,500 over the term of the agreement.

If the automaker meets annual targets, it can keep a part of the new tax revenue it generates by claiming eligible incentives against its income tax liability and/or wage assessments.

Ford employs over 12,000 people in Kentucky.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.


SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.


©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More