Ford Growth Will Include $305M Investment in Dearborn Plant

Major growth for Ford Motor Company heading into 2013 will result in $776 million in investments and 2,350 new jobs, according to the Detroit Free Press.

The investment will include $305 million put into Dearborn's truck stamping plant, which is being prepared to build the company's next generation of F-series trucks. That construction has already begun, and will continue for six months.

North American Vice President of Manufacturing Jim Tetreault told the Free Press that the Dearborn-based auto maker's rapid growth is due to increasing demand for new cars and trucks, as well as the launch of several new vehicles in 2012.

"It was the most launches and capacity adds in a year that I have ever had in my career," Tetreault said.

Upgrades are also planned for Ford's plants in Sterling Heights, Flat Rock, Livonia and Wayne.

The upgrades in Dearborn join investments made over the past year and a half at Severstal Steel's local facility, which will amount to a one billion dollar overhaul of the plant, according to Severstal officials.