Two companies plan to invest $725 million into renovating the former Ford factory. Clairvoyant Energy of Santa Barbara, California will relocate its headquarters and produce solar panels in Wixom. Xtreme Power of Austin, Texas plans to build large-scale batteries to store power for the electric grid and from wind farms.
The promise of over 4,000 new jobs in Michigan was enough to garner a series of large tax breaks from the state and millions of dollars worth of grants from the federal government. For its part, Ford seems quite pleased with the direction its idled plant will take. Says executive chairman Bill Ford:
[Source: Detroit Free Press]This is very much in line with a core principle we hold at Ford... I can't imagine a better way to use this facility for our children and our grandchildren. We're going to put this plant and the skilled workers of Michigan back to work.