Strategic Ford Partner Invests $49.3 Million in Kentucky Plants
Along with new equipment and working space, the fresh capital will bring more jobs the Louisville area.
According to the Courier-Journal, Ford Motor supplier Tower Automotive has announced plans to spend $19.9 million on their plant in Shepherdsville, KY. The money invested will go towards a huge increase to their floor space, new equipment, and perhaps most importantly — new jobs for local residents.
The Cedar Grove plant is responsible for manufacturing aprons, rear floors, and other body accessories for the Ford Escape. They will use the new capital towards adding approximately 100,000 square feet to their already 219,000 square foot plant. The cost of this expansion breaks down to $4 million for the new lease, as well as $1.7 million for the added building improvement costs.
In addition to the larger space, Cedar Grove will spend $13.6 million on new equipment, and $600,000 on start-up costs. With this type of expansion, Tower Automotive is expecting they’ll need to hire more employees. The company states they’re looking at hiring 35 new employees for the Cedar Grove plant, at this time.
Construction work is expected to start soon, with the hiring activities expected to begin in June of this year. Needless to say, it’s great to see the American manufacturing industry thriving.