Last October, Ford signed a new four-year contract with the United Auto Workers (UAW) union that included adding 12,000 hourly jobs at its U.S. facilities over the next four years moving production from its plants in Mexico, Japan and China back to the States.
On Thursday, U.S. President Barack Obama praised Ford’s decision as an example of companies that are bringing jobs back to the country and contributing to the growth of its economy.
“You’ve heard of outsourcing. Well, these companies are insourcing”, said Obama adding that this deal wouldn’t have been possible without the help of the UAW.
President of Ford’s Americas region Mark Fields commented that the automaker was “glad to be doing its part” to create American jobs.
Instead of investing in its Mexican plant, the Blue Oval will bring production of the Fusion mid-size sedan back to its Michigan plant and will manufacture the commercial F-650 and F-750 in Avon Lake.
In the next few weeks, the President plans to introduce new tax proposals to reward companies that are investing in the U.S. and create new jobs and cut tax breaks for companies that are moving their operations out of the U.S.
According to the Associated Press, the proposal will include a US$12 million incentive in the 2013 budget for companies that bring back their overseas operations.
“I don’t want America to be a nation that’s primarily known for financial speculation and racking up debt buying stuff from other nations”, said the President on his tax proposals, although the White House did not comment on the specifics.
Source References: Detnews
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