Ford Motor Co. will obtain twice the quantity of Michigan tax incentives for its Dearborn Truck Plant after asserting final month that it plans to double manufacturing of the F-150 Lightning pickup on the plant.

The automaker will obtain simply greater than $6 million in State Important Companies Evaluation, or SESA, exemption tax incentives for the $200 million enlargement following approval from the Michigan Financial Growth Corp. on Tuesday. The enlargement is anticipated to create 300-400 manufacturing jobs. The typical annual wage for the Ford plant jobs is $61,000.

Ford obtained $35 million in incentives in 2019 to help a $1.5 billion capital funding and creation of three,000 jobs at its vegetation in Dearborn and Wayne, Crain’s Detroit Enterprise beforehand reported. Crain’s is an affiliate of Automotive Information.

On the time, it was accepted for a SESA exemption valued at $3.2 million for the Dearborn challenge. Following its announcement of the plant enlargement, the MEDC elevated the automaker’s SESA exemption from $3.2 million to greater than $6 million.
 

The enlargement is anticipated to be full by the third quarter of 2023.

“The proposed challenge will additional increase the Firm’s huge footprint in Michigan and create an prolonged ripple impact that may profit Tier 1 suppliers, the Tier 1 provide base and several other communities,” the MEDC stated in a briefing memo.

The state’s approval of the Dearborn challenge comes a day after Ford’s splashy announcement that it’ll make investments $11.4 billion in new EV vegetation in Kentucky and Tennessee. Michigan didn’t “actively bid” for the tasks, MEDC CEO Quentin Messer stated in a convention name with reporters Tuesday.

Ford boosted manufacturing of the F-150 Lightning after its annual manufacturing goal projection doubled to 80,000 by 2024, Automotive Information reported. The primary truck is anticipated to roll off the road subsequent spring.