Tennessee Approves Incentives for New Ford EV Facility
Oct. 22, 2021—The Tennessee General Assembly on Wednesday approved an $884 million incentive package for Ford's new multibillion-dollar EV campus project in the state.
Over the course of a three-day hearing, lawmakers established an 11-member regional authority to oversee the project and appropriated $500 million in direct grants, as well as another $384 million in additional funding, for the project according to The Detroit News.
“We thank the State of Tennessee for its partnership and support as we work together to create 6,000 west Tennessee jobs and build Blue Oval City,” Ford North America COO Lisa Drake said in a statement. “As we embark on this journey, Ford will be a good neighbor and work hard to enrich and give back to the communities we are joining. We look forward to working together to create this future.”
Once completed in 2025, the plant will employ more than 6,000 people and will serve as the crowning jewel of Ford's electrification efforts, housing vehicle assembly, battery manufacturing and other essential EV infrastructure processes.
Tennessee Gov. Bill Lee called the plant, which has been described as the single-largest investment in the state's history, as a "tremendous win for rural Tennessee."