Thursday, December 09, 2010

Yarmuth on Ford announcement

Congressman John Yarmuth remarks on today's Ford announcement:
Today, Congressman John Yarmuth (KY-3) issued the following statement regarding Ford’s announcement of a new $600 million investment to re-tool its Louisville Assembly Plant and hire hundreds of new workers to build the next-generation Ford Escape.

“I was proud to stand with Ford and the UAW as we worked to secure the federal resources that helped make this day possible and I am prouder still to continue our efforts to create jobs and revitalize manufacturing in Louisville.” said Congressman Yarmuth. “Today’s announcement is a clear sign that Ford is in Louisville to stay and will play a critical part in the growth of our local economy for years to come.”

In September of 2009, Ford secured a $5.9 billion loan as part of the federal government’s Advanced Technology Vehicles Manufacturing Loan Program. This program provides funding to help auto companies produce cars in the U.S. that increase fuel economy standards. In 2008, Congressman Yarmuth fought for continued funding for this program to encourage retooling of existing plants to produce the next generation of vehicles and supported Ford’s efforts to re-tool LAP.

The Loan Program was created by the Energy Independence and Security Act of 2007, which Congressman Yarmuth supported during his first year in Congress.

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