Join Date: Feb 2001
Location: The Hills of North Georgia,USA
Ford to put $158 million in its Romeo plant
Thursday, May 15, 2003
By Tenisha Mercer / The Detroit News
ROMEO -- Ford Motor Co. today is expected to announce the automaker will invest at least $158 million at its Romeo engine plant.
The company's investment is thought to be more than $158 million, but Joe Koenig, public affairs manager for powertrain operations, would not release specific details.
"I wouldn't characterize it as an expansion, but we did apply for some tax abatements for some possible work at the plant," Koenig said.
The Romeo Village Council approved Ford's $158 million industrial facilities tax abatement request late last month. The company's investment comes at a time when automakers are slashing costs and cutting jobs at many operations.
"It's a very positive sign ... because it means ... these are jobs that aren't going to go to some other place," said James McTevia, chairman of McTevia & Associates, a consulting firm in Eastpointe.
The abatement will help pay for upgrading engine production equipment at the plant, said Romeo Clerk Marian McLaughlin. Typically, abatements allow a company tax breaks over a 12-year period.
The plant manufactures engines for the Ford Crown Victoria, Expedition, Explorer and E-Series vans; and Lincoln Navigator, Aviator and Town Car.
It has more than 1,600 employees. It is not known if the investment will produce new jobs.
"They are heavily involved with the community, and this will support that even more," said Joyce Dych, executive director of the Romeo-Washington Chamber of Commerce.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.
My next Ford.....