Last week marked a significant milestone in the construction of the Ford BlueOval City complex being built in West Tennessee, with the governor and the community all coming out to celebrate.
In 2021, Ford Motor Company and SK Innovation went in on the single largest investment in the state of Tennessee and agreed to build the BlueOval City. The complex is going to be 3,600 acres and costs a whopping $5.6 billion. EV production is set to begin in 2025 and is expected to bring even more success and growth to the Tennessee economy. On March 24th, since significant progress had been made on the construction project, Ford decided to host a large community event, with the governor joining in to speak on the momentous occasion (Action News 5).
Tennessee Economic Growth
Tennessee has already been a booming economy, but BlueOval City is going to give it an even bigger boost. According to TN Office of the Governor, this investment will lead to the "creation of 30,000 new jobs in West Tennessee, which includes direct and indirect jobs to support the site’s operations, resulting in more than $1.02 billion in annual earnings... [As well as] an anticipated $3.5 billion each year to Tennessee’s gross state product." In partnership with Ford, Tennessee is also planning to create an on-site College of Applied Technology (TCAT), as well as update other facilities with TCATS. This opportunity will allow people to receive specialized training for them to enter the workforce prepared.
Automotive Industry in Tennessee and AER's Role
Sources and further reading:
https://www.actionnews5.com/2023/03/24/ford-hosts-first-community-event-blue-oval-city/