Today, Congressman Yarmuth issued a statement in response to Ford and the UAW ratifying a new contract which will result in a $600 million investment at the Kentucky Truck Plant and a new vehicle and a new third shift at the Louisville Assembly Plant.
"Starting with our efforts to secure federal resources to re-tool the Louisville Assembly Plant, Ford, the UAW, and the leaders of our community have continually worked together to revitalize manufacturing and spur job growth. As a result of their hard work and the ratification of this contract, Ford will invest $600 million at the Kentucky Truck Plant and bring a new vehicle and third-shift to the Louisville Assembly Plant. This is great news for local workers and great news for Louisville. I congratulate Ford and UAW on reaching this agreement and guaranteeing that Ford will be a major force of job creation and economic growth in Louisville for years to come."
In 2009, a $5.9 billion loan to Ford was announced as part of the federal government's Advanced Technology Vehicles Manufacturing Loan Program to help Ford Motor Company retool facilities in Illinois, Kentucky, Michigan, Missouri, and Ohio. This program provided funding to help auto companies produce cars in the U.S. that increase fuel economy standards.
The Loan Program was created by the Energy Independence and Security Act of 2007, which Congressman Yarmuth supported during his first year in Congress.