Ford Invests $400 Million in Missouri Plant


NEW YORK ( TheStreet) -- Ford ( F) says it will invest $400 million in its Kansas City, Mo. plant where a new vehicle will be built.

Ford said production of the new vehicle will be built after it moves its Ford Escape production to the automaker's Louisville, Ky. plant.
FORD

The $400 million investment will go into installing a new body shop, new tooling and other upgrades.

The automaker says it's committed to retaining 3,750 full-time jobs at the Kansas City plant. This includes the positions required to produce the Ford F-150, which will continue to be built at the facility on a separate line.

"This investment and promise of a new vehicle to be built in Kansas City reinforces Ford's commitment to U.S. manufacturing and American jobs," Mark Fields, Ford's president of The Americas said in a statement.

The new vehicle planned for the plant will be announced at a later date.

Ford said Missouri tax incentives played a role in Ford's decision.

Shares of Ford were up 0.3% to $18.71 in early afternoon trading, as rival General Motors ( GM) fell 0.2% to $38.13. Nissan ( NSANY) was also sliding, down 0.5% to $20.45.

>>Search for Highest Dividends by Rate or Yield
More on Earnings
Today's Top Earnings
Earnings Calendar

-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here: Andrea Tse.

>To follow the writer on Twitter, go to Andrea Tse.

>To submit a news tip, send an email to: tips@thestreet.com.

RELATED STORIES:

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

If you liked this article you might like

Domino's Pizza CEO: In 10 Years,Self-Driving Cars Will Deliver Pizza

Domino's Pizza CEO Thinks Self Driving Cars Will Deliver Pizza in 10 Years

CEOs Are Dropping Like Flies

North Korea Leader Kim Jong Un Warrants Your Attention, Silly Investor