Ford to invest in Michigan

Investor's Business Daily

The U.S. automaker said it will invest more than $773 mil in new equipment and capacity expansions in Mich. as part of its plan to invest $6.2 bil in U.S. operations by '15. Ford's (NYSE:F) investments will create 2,350 new hourly jobs and allow it to keep another 3,240 hourly jobs. As demand for cars rises, automakers need to ramp up hiring after staff cuts during the '09 bailout. U.S. plants employ 770,000 American workers, up from fewer than 625,000 at the bottom of the recession, according to Bureau of Labor Statistics numbers from July.

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