Report: Ford Applies for $150-Million MO Tax Credit


http://businessfacilities.com/2010/11/report-ford-applies-for-150-million-mo-tax-credit/
The Missouri Department of Economic Development said Ford Motors has applied for the $150 million, 10-year package of tax credits passed by the Legislature this summer, according to a report from KMBC.com. The application is being viewed by state officials as an indication that Ford has future plans at the Claycomo plant in the Northland. A spokesman for the Department of Economic Development would only confirm they have received the letter of application from Ford. The measure calls for “substantial capital investment in production capacity,” according to a news release from the governor’s office this summer. KMBC’s Micheal Mahoney reported that incentives would be triggered after a company makes a firm commitment and workers are on the job. Since Ford announced it was moving one of the two vehicles made at Claycomo to another plant, there has been concern about the future of the 50-year-old facility and its 4,000 employees. The Ford Hybrid Escape production line is moving to a plant near Louisville, Ky. In September, Ford CEO Alan Mulally came to Kansas City for a speech. He did not make an announcement about Claycomo’s future, but he did praise the plant and its work force. Ford spokeswoman Marcy Evans says Ford has applied to be a “certified manufacturer” who would qualify for the tax break. “It doesn’t signify we have made a commitment for a specific product or future plans,” she told Mahoney. Evans described the application as part of a process. She said getting that certification could take up top six months. A company must make a “substantial capital investment in production capacity” to be eligible for the tax credits. Incentives would be triggered after a company makes a firm commitment and workers are on the job. Related PostsLeggett & Platt Bringing New Product Introduction Operation To Joplin, MOComputershare Inc. Opens New Facility In Louisville, KYFord To Add 2,000 Jobs, Invest $1.3B in Louisville’s Kentucky Truck PlantSpecial Report: Call Centers/Back Office – Making A Connection In Southwest Missouri
Report: Ford Applies for $150-Million MO Tax Credit was published on at and updated at .

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The Missouri Department of Economic Development said Ford Motors has applied for the $150 million, 10-year package of tax credits passed by the Legislature this summer, according to a report from KMBC.com.

The application is being viewed by state officials as an indication that Ford has future plans at the Claycomo plant in the Northland. A spokesman for the Department of Economic Development would only confirm they have received the letter of application from Ford.

The measure calls for “substantial capital investment in production capacity,” according to a news release from the governor’s office this summer. KMBC’s Micheal Mahoney reported that incentives would be triggered after a company makes a firm commitment and workers are on the job.

Since Ford announced it was moving one of the two vehicles made at Claycomo to another plant, there has been concern about the future of the 50-year-old facility and its 4,000 employees. The Ford Hybrid Escape production line is moving to a plant near Louisville, Ky.

In September, Ford CEO Alan Mulally came to Kansas City for a speech. He did not make an announcement about Claycomo’s future, but he did praise the plant and its work force.

Ford spokeswoman Marcy Evans says Ford has applied to be a “certified manufacturer” who would qualify for the tax break. “It doesn’t signify we have made a commitment for a specific product or future plans,” she told Mahoney.

Evans described the application as part of a process. She said getting that certification could take up top six months. A company must make a “substantial capital investment in production capacity” to be eligible for the tax credits. Incentives would be triggered after a company makes a firm commitment and workers are on the job.

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