x
Breaking News
More () »

Governor's office expects Ford to apply for almost $300M in incentives

A spokesman for Gov. Andy Beshear said they anticipate Ford will apply for $250 million in forgivable loans and a $36 million grant to help train workers.

GLENDALE, Ky. — Ford Motor Company will be eligible for some major incentives thanks to a new law passed during the special session. 

The new law, referred to as Senate Bill 5, created a $400 million economic incentive package for projects investing at least $2 billion.

Ford is investing almost triple that, with their estimated $5.8 billion, 1,500-acre battery manufacturing complex in Glendale. 

A spokesperson for Gov. Andy Beshear's office said he expects Ford will apply for $250 million in forgivable loans, which they won't have to pay back so long as they meet certain benchmarks. 

WHAS requested more information on what those benchmarks might be and will share more information as it comes in. 

The governor's office also expects them to apply for a $36 million grant to help train workers. 

"I think the most exciting this is the training aspect, which the state will be part of their incentive package I'm sure, but develop the training programs that they need to train the workers," Rick Games, president of the Elizabethtown/Hardin County Industrial Foundation, said.

Incentive programs are commonly used in states around the country to lure in big investors. 

The companies coming in typically make investments in the communities they're located in as well.

For example, the old Horseshoe Southern Indiana riverboat casino helped pay for a new sewer system in Harrison County, new water lines, helped to pave county roads and funded a new Boys & Girls Club.

Ford said in a statement Wednesday, they intend on continuing to be a good neighbor when they come to Glendale. 

The company is currently investing $525 million across the country to train technicians over the next five years. 

They also cited a study they had commissioned by Boston Consulting Group in 2020 that found Ford supports 48,000 direct and indirect jobs in Louisville and, overall, the company has a statewide GDP contribution of $11.8 million. 

So Ford is already putting up big jobs numbers in the commonwealth and now, that figure will grow even more once they break ground in Glendale.

The plant will employ 5,000 people directly. 

Beshear said Tuesday he anticipates a large number of indirect jobs to come along with that base figure. 

 Contact reporter Rachel Droze at rdroze@whas11.com or on FacebookTwitter or Instagram

Make it easy to keep up-to-date with more stories like this. Download the WHAS11 News app now. For Apple or Android users.  

Have a news tip? Email assign@whas11.com, visit our Facebook page or Twitter feed 

RELATED VIDEO