Ford Motor Company will invest approximately $105 million to upgrade equipment and technology at its Louisville truck facility, according to Kentucky economic development officials. Under the Kentucky Jobs Retention Act (KJRA), the state will provide Ford with up to $66 million in tax incentives over a 10-year period. The funding will help support the retention of more than 5,000 jobs at the facility, with a direct and indirect payroll of more than $4 billion. The KJRA was signed into law earlier this year to encourage existing automakers in the state to modernize facilities and retain jobs. "Ford is facing unprecedented competitive challenges, and this type of partnership support enhances our ability to work together closely to set the stage for additional opportunities in the future," says Curt Magleby, the company's director of state and local government and community relations.
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