Ford is canceling plans to build a new plant in Mexico. It will invest $700 million in Michigan instead, creating 700 new U.S. jobs.
Ford CEO Mark Fields said the investment is a “vote of confidence” in the pro-business environment being created by Donald Trump.
However, he stressed Ford did not do any sort of special deal with the president-elect.
“We didn’t cut a deal with Trump. We did it for our business,” Fields told CNN’s Poppy Harlow in an exclusive interview Tuesday.
The $700 million investment will go to the Flat Rock, Michigan plant to produce more electric and self-driving cars. Ford believes electrified vehicles will outsell gas-powered vehicles within the next 15 years.
That is not counting the domino effect on jobs retained and created in the secondary-tertiary -quaternary sectors of the economy.
The nay sayer Dum Dumbs who haven’t a clue how a economy works will down play it as “Duh, it’s only 700 jobs”.