Cabinet for Economic Development
National Magazine Names Ford Motor Company’s Louisville Investment among Top 15 Corporate Projects in U.S.
Trade & Industry Development announces its 2012 CiCi (Corporate Investment & Community Impact) Awards
FRANKFORT, Ky. (March 20, 2012) – Ford Motor Company’s investment in Kentucky is one of the top 15 corporate investment projects in the country, according to a national economic development journal.
Trade & Industry Development, a leading magazine dedicated to site selection, has included the company’s Louisville project in its 7th Annual CiCi (Corporate Investment & Community Impact) Awards. The project was selected among hundreds submitted from across the country to make the top 15 in the Corporate Investment category.
“This is yet another great honor for the Commonwealth, Louisville, and Ford Motor Company,” Gov. Beshear said. “Ford’s growth in Louisville has garnered national and international recognition and demonstrates the strength and potential which resides in Kentucky’s automotive industry.”
Created in 2006, the CiCi Awards are unique in that they are a dual-awards program. The CiCi Awards not only highlight the largest corporate investment projects, but also recognize those projects that may not involve large investments, but make the most notable impact on communities. Criteria for judging include number of new jobs created, number of current jobs retained, unemployment figures, income level of the region and plant closings.
“In our scrutiny of the 2012 CiCi Award applications, we were extremely impressed that not only was Ford Motor Company’s $1.2 billion investment in Louisville, Kentucky, among the top three investments we considered for recognition this year, but the 3,100 jobs created by this project is more new jobs than any other 2012 CiCi award recipient expects to create as a result of their new project,” said Scott Swoger, publisher of Trade & Industry Development magazine.
Ford announced in late 2010 an investment of $600 million to transform the company’s Louisville Assembly Plant (LAP) into the company’s most-flexible, high-volume plant in the world – resulting in a second shift and 1,800 new jobs at the plant. In the fall of 2011, Ford announced a new contract, which workers ratified, that will bring a third shift and another 1,300 jobs to LAP, raising the total new-job count to 3,100.
The contract also secured a separate, $600 million investment at Ford’s Kentucky Truck Plant (KTP) to include a new stamping press. The KTP investment will allow for modernization of tooling for the next generation F-Series Super Duty trucks and the Expedition and Lincoln Navigator SUVs.
The award from Trade & Industry Development comes on the heels of Ford and the Commonwealth being named 2011 Economic Development Deal of the Year by national magazine Business Facilities. The project, which was selected by a judging panel of industry experts, emerged as the winner in a competitive field of 23 other projects from across the U.S.
“We are honored that Trade and Industry Development has recognized the strong collaboration between Ford and Kentucky,” said Jim Tetreault, Ford vice president of North America Manufacturing. “This project serves as a great example of what can be accomplished by working together with our state and local government partners. Gov. Beshear and his economic development team helped facilitate the business case for Ford’s continued investment in Louisville. We are proud of our long-standing partnership with Kentucky and look forward to continuing to be an integral part of the Louisville community for many years to come.”
“Ford’s $1.2 billion investment in its two facilities in Louisville has resulted in more than 3,000 new jobs and new exciting products coming off their assembly line,” said Louisville Mayor Greg Fischer. “In order to remain competitive, it’s important for any company to be able to be flexible and change with the times, and Ford has done just that, as evidenced by their favorable industry reviews and corporate earnings. Congratulations to Ford for being recognized with a CiCi award; it is clearly well deserved.”
“Ford has long played a bedrock role in Louisville’s economy, but its latest investment has taken that to a new level,” said Rep. Larry Clark, of Louisville. “It has turned heads across the country, and has rightly earned Ford numerous accolades like this one. The UAW members and Ford Motor Company working together has made this happen. I’m proud I could sponsor the legislation in 2007 that helped the state work with Ford to make all of this possible.”
“We congratulate Ford on this award. They are an exceptional corporate citizen dedicated to growing jobs and shaping futures for families in our community and throughout the region,” said Eileen Pickett, executive vice president of Greater Louisville Inc. “Being a part of this highest caliber of companies is well deserved and a honor that we are very pleased to have in Louisville.”
Kentucky is currently home to more than 440 automotive-related industries that employ more than 68,000 people. Additionally, Kentucky ranks third highest in auto industry-related employment as a percent of total state employment among the top motor vehicle producing states in the U.S.
For more on Trade & Industry Development’s CiCi Awards, visit www.tradeandindustrydev.com.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans of the Cabinet for Economic Development can also join the discussion on Facebook at www.Facebook.com/ThinkKentucky or follow on Twitter at www.Twitter.com/ThinkKentucky.