It’s being billed as the best news for Ontario’s automotive sector in 15 years and while it’s not a new plant, it is a new lease on life for one of the anchors of the industry.
On Thursday morning, Premier Doug Ford will stand with Ford Canada CEO Dean Stoneley and Unifor president Jerry Dias to announce a major investment in the plant.
Ford Canada will announce a $1.2 billion investment in their Oakville plant while Ford, the premier, will announce $295 million from the province. Prime Minister Justin Trudeau, expected to join via video link, will announce the federal government will also put $295 million into the plant.
The total investment amounts to $1.8 billion for Oakville and more than $100 million for a Ford parts plant in Windsor.
What makes this announcement different than your usual corporate handout, of which there are still too many, is that this deal has the potential to change Ontario’s auto industry in the most profound way since Sam McLaughlin was helping Billy Durant build General Motors.
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