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 IGNN: Main State Page Press Release

ILLINOIS NEWS

FOR IMMEDIATE RELEASE
January 26, 2010

Governor Quinn Announces 1,200 New Jobs At Illinois-based Ford Motor Co. Plants
The Next-Generation Ford Explorer to be Made in Chicago

CHICAGO – January 26, 2010. Governor Quinn today joined with Ford Motor Company to announce the addition of 1,200 new jobs at Chicago-based manufacturing facilities to produce the next-generation Ford Explorer SUV. The auto maker will invest $400 million to launch the project.
 
“The production of the new Ford Explorer will create 1,200 new jobs in Illinois and make way for a brighter economic future,” said Governor Quinn. “I want to commend Ford for investing nearly $400 million in its Chicago-area manufacturing facilities to increase production and staff.”
 
Ford’s $400 million investment includes approximately $180 million in manufacturing investment at the site and approximately $220 million for launch and engineering costs. In addition, Ford will be making significant investment in supplier tooling to support next-generation Explorer production.
 
The auto company is benefiting from Governor Quinn continuing effort to create and maintain jobs in Illinois. On December 14, Governor Quinn sign into law the Economic Development for a Growing Economy (EDGE) tax credit for auto manufacturers. That EDGE tax credit enables the auto industry, which is among Illinois' largest employers, to retain employee income tax withholdings as an alternative to current EDGE corporate tax credit and reinvest those funds into operations that generate greater employment.
 
“Governor Quinn immediately understood the importance of helping Ford by proposing and passing legislation that provides us with an alternative way to claim and secure these important tax credits,” said Mark Fields, Ford’s president of The Americas. “We are grateful for his support of Ford and auto manufacturing in Illinois and want to thank him for his leadership in this area.”
 
“The Economic Development for a Growing Economy (EDGE) tax credit that I put the full weight of my Administration behind and signed into law will provide much-needed relief to our State’s ailing automotive industry and prove to be a necessary incentive for one of our nation’s leading car companies to stay and thrive in the Land of Lincoln,” said Governor Quinn.
The new Explorer will deliver at least 25 percent better fuel economy than the current model.  The vehicle will feature unibody construction, Ford’s EcoBoost engine technology, a six-speed transmission and lightweight materials. Ford will unveil the new Explorer later this year.
 
Since taking office, the Quinn Administration has assisted in putting together more than 55 business investment packages, which have led to companies expanding and creating and retaining jobs in Illinois. In total, these projects will create more than 3,000 jobs, retain more than 8,800 jobs and leverage nearly $1.32 billion in private investment.
 
For the complete “Illinois Economic Recovery Plan: Jobs for Today and Tomorrow,” please visit: Illinois.gov/gov.
 


RAW TAPEGovernor announces 1,200 new jobs at Illinois based Ford Motor Company plants

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