Ford Motor Company Announces $150M Investment, 350 New Jobs

November 21, 2013 Updated Nov 21, 2013 at 7:11 PM EDT

By WKBW News

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November 21, 2013 Updated Nov 21, 2013 at 7:11 PM EDT

BUFFALO, N.Y. (WKBW) - Shortly after Governor Cuomo announced at least 850 jobs coming to Western New York Thursday morning, Ford Motor Company announced it will invest $150 million to make significant upgrades to its Hamburg facility.

New machinery and state-of-the-art equipment will allow the Ford Stamping Plant to retain 640 full-time, permanent jobs and create at least 350 new jobs.

Governor Cuomo was on hand for the event. He and Empire State Development provided a $7 million incentive package to help Ford with the expansion.

$5 million from a NY Works Find capital grant will be used to pay for part of the machinery while $2 million will be granted after Ford qualified for performace-based Excelsior Jobs Program tax credits from the state.