After slashing hundreds of much needed manufacturing jobs in Detroit, Ford is about to take a different approach to its manufacturing plant in Cleveland. The addition of 60 new jobs and a $155 million investment is all thanks to the new variable cam V-6 engine. This V-6 will be placed under the hood of the new 2011 Ford Mustang helping to reach 305 horsepower while maintaining a best in class 30 miles per gallon. The new engine in the Mustang is not the only thing spurring new investment from Ford, as the total investment from the company for its 2011 vehicle lineup has totaled $1.8 billion thus far with much more to come. After a long period of layoffs the 1,260 new jobs added are much appreciated. The reason for all the new investment is that many of the 2011 Ford, Lincoln, and Mercury vehicles are getting new or upgraded engines or transmissions. Many of these engines and transmissions are for the new Ford Super Duty's as well as several for the new Mustang. The Cleveland Engine Plant which will be receiving the most recent investment is one of the 11 Ford manufacturing facilities which is a participant in the Advanced Technology Vehicles Incentives Program which was implemented by the Obama administration. The U.S. program started as a $25 billion program to help develop advanced-technology vehicles in America through funds. So far the program has lent out billions of dollars to companies like Ford which has helped create thousands of new jobs for the economy. |