WINNING: Ford CANCELS Mexico Plant, Decides to Invest in AMERICA
Before he’s even taken office, President-elect Donald Trump has proven to be quite the job creator.
Ford Motor Company announced Tuesday it will cancel a $1.6 billion plant planned for Mexico and will instead invest $700 million in a Michigan assembly plant, directly tying the decision to “pro-growth policies” championed by President-elect Donald Trump.
Trump had previously been critical of Ford’s plans to build in Mexico. After the announcement, Trump tweeted a link to a story about the Ford decision and then added in a subsequent message: “Instead of driving jobs and wealth away, AMERICA will become the world’s great magnet for INNOVATION & JOB CREATION.”
“We’re doing this decision based on what’s right for our business,” Ford CEO Mark Fields told Neil Cavuto on Fox Business Network. “As we think about the investments here in Michigan, as you can imagine, Neil, we look at a lot of factors as we make those. One of the factors that we’re looking at is a more positive U.S. manufacturing business environment under President-elect Trump and some of the pro-growth policies he said he’s going to pursue. And so this is a vote of confidence.”
Fields said Ford would have gone ahead with the decision whether or not Trump was elected president, however, he did say that he alerted both Trump and Vice President-elect Mike Pence ahead of the announcement on Tuesday.
The Ford news was the latest in a string of pre-inauguration successes for Trump in the manufacturing sector.
In early December, air conditioner and furnace maker Carrier agreed to stay in Indiana after weeks of negotiations headed by Pence. The decision reportedly saved about 700 jobs that would have been shifted to Mexico.
Later in the month, wireless provider Sprint and Internet company OneWeb announced they would be adding thousands of jobs in the U.S. Both companies are controlled by SoftBank founder Masayoshi Son, who had previously met with Trump.