Ford Motor Co. said today it will invest $400 million to build a new vehicle at its Kansas City, Mo., assembly plant when production of the Ford Escape is shifted to the automaker's Louisville, Ky., factory.
The investment will cover the installation of a new body shop, new tooling and other upgrades. Ford expects to keep 3,750 jobs at the Missouri plant as a result of the investment.
Production of the Ford F-150 pickup will continue at the Kansas City plant on a separate line.
Ford is receiving incentives -- $150 million in tax breaks over 10 years -- under the 2010 Missouri Manufacturing Jobs Act as part of the project. The bill provides tax incentives for automotive manufacturers that provide new investments and retain or add jobs in Missouri, as well as suppliers who create new jobs in the state, Ford said in a statement.