Feeds‘Way Forward’ takes another step into future
The Tuesday announcement that Ford Motor Co. would receive nearly $6 billion in loans to help build more fuel efficient cars is obviously good news for everyone.
Congressman John Dingell greeted the news with the statement: “This couldn’t come at a more opportune time, particularly for Ford.”
He’s right, and it couldn’t come at a more opportune time for the State of Michigan, either.
The funds will in part be dedicated directly to Wayne, where work is already under way to transform the old Michigan Truck Plant into the Michigan Assembly Plant. The new version of the Ford Focus will be constructed beginning next year, and it still spells good news for the automaker and the region.
The City of Wayne and the State of Michigan have already shown support for the project in the form of needed tax breaks for the $400 million renovation project. These federal loans will provide additional assistance for the automaker.
It’s a positive sign at a time when the government has done too much to adversely impact the automakers seeking federal assistance by steering them into bankruptcy and forcing them to close dealerships, which has caused a domino effect in our local communities, jeopardizing family businesses as well as the events and organizations they support.
It’s important to note that these loans were put in motion two years ago, before the well-documented trouble experienced by the Big 3. Even in 2007, when the framework for the loans was being put in place, Ford Motor was already ahead of the game, a year into its ‘Way Forward’ plan that called for downsizing and restructuring as a way to return to profitability. They received some criticism for that, but time has shown they were on the right course then and they’re on the right course now.
It’s nice to finally see some positive news about the automotive industry these days. And this is positive news, indeed.
