Today, Ford's president of The Americas Joe Hinrichs made the announcement official that Ford will be investing $700 million into the Oakville assembly plant. This will help to secure 2,800 jobs for the foreseeable future. The money is going towards upgrading assembly components in order to make production more flexible, matching consumer demand with manufacturing out put.
2014 Ford Edge assembled in Oakville, ON2014 Ford Edge assembled in Oakville, ON
"This investment is helping us find much needed capacity for global products and securing jobs, and it is positioning Oakville as one of the most competitive and important facilities in the Ford system." - Hinrichs
On the heels of this investment was an additional grant from the provincial government of $70 million to Ford of Canada announced by Premier of Ontario Kathleen Wynne.
"We are making smart investments...to help keep jobs in Ontario now and for generations." - Kathleen Wynn
The Federal government also announced that of the $250 million it committed to the auto industry in January 2013, that $72 million will be going to the Oakville Ford Assembly plant.
"We are thrilled that Ford continues to invest significantly in Canadian jobs by building in manufacturing lines here in Ontario." Minister of Industry - James Moore.
Ford has invested more the $2 billion in Canada in less that a decade. It is estimated that for every auto job generated it creates 10 additional supporting jobs. Sales of the Edge made at the Oakville Assembly have surged to pre-recession levels. So far in 2013 sales for the Edge are expected to surpass 130,000, which was the record number sold in 2007.
"Ford's investment demonstrates Canada can be competitive in the global market through strategic partnerships. Working closely with government and labour, we have secured a bright future for our employees at Oakville Assembly." Dianne Craig- President & CEO, Ford Canada.
