Manufacturing jobs that don't go to low-wage countries will go to robots.
The good news is that Ford is investing $2.5 billion.
The bad news is that it will be in Mexico. The automaker is building a brand new $1.1 billion engine factory in Chihuhua and a $1.2 billion transmission plant. Another $200 million will go towards the expansion of a current diesel engine production facility there. Workers there earn about $10/hour.
The projects will create 3,800 jobs and a house there is probably already worth more than in Detroit.
Meanwhile, even if you can convince a bailed out automaker to stick around, they want a bribe. The Detroit Free Press today says GM wants the city of Warren, Michigan to waive most of its property taxes for 12 years in order to renovate an auditorium, build a parking garage and repair damage from heavy rains last year.
It gets even worse. GM -- government freaking motors -- announced this week it's investing $350 million to build the Chevrolet Cruze in Mexico. It's also planning to close factories in Canada, directly affecting 4,100 jobs. This is one of the most-sheltered companies in history that's been propped up by massive government investment and rescued with a bailout. If they're not going to invest in the US and Canada, no one is.
