Fiat Chrysler Invests a Billion in Detroit
More good news for the Detroit auto industry and economy in general, as FCA, the U.S. division of the automaker Fiat-Chrysler, announced the investment of $1 billion in production plants in the Detroit area and Northwest Ohio. It is estimated that this new injection of local automotive production will create 2,000 domestic jobs.
This decision to “stay home” came a few days after Ford Motor Company withdrew its plan to build a facility in Mexico, and instead build the production plant here in the Detroit area.
FCA released the following statement regarding their new investment:
“Consistent and combined with previously announced investments, FCA US is further demonstrating its commitment to strengthening its U.S. manufacturing base, and aligning U.S. capacity to extend the Jeep product lineup.”
FCA also intends on revamping its Truck Assembly Plant in Warren, MI to produce a new line of Jeep and Grand Wagoners. The move “is a continuation of the efforts already underway to increase production capacity in the U.S. on trucks and SUVs to match demand,” the company said, adding that it would help solidify the U.S. as “a global manufacturing hub” for its flagship brands
They predict the new renovations will be in place by 2020.
News of FCA and Ford Motor Company incorporating state-of-the-art automotive production is another reflection of the already well-known rejuvenation of Detroit and surrounding communities, which in turn continues to attract more residents, businesses, entrepreneurs, and real estate investors alike.
(Source: CNBC.com, “Fiat to invest $1 billion in Michigan, Ohio plants, create 2,000 jobs”)