TORONTO — Ford's engine plant in Windsor, Ont., is expected to get more than 700 new jobs over five years.
The Ontario government says it will contribute up to $81.2 million towards the plant, building on an earlier investment of $17 million that helped reopen the shuttered plant in 2008.
The initiative will allow Ford (NYSE:F) to introduce new manufacturing technology and will also establish a research and development centre.
To date, Ford has invested $590 million in the plant, which will now build a fuel-efficient engine to be used in the Mustang.
The announcement will help offset some of the 1,500 jobs that will be lost when Ford closes its assembly plantin St. Thomas, Ont., in 2011.
Ford employs a total of 6,000 people at two assembly plants and an engine plant in southern Ontario.