Detroit

Ford to Spend About $740 Million on Detroit Redevelopment Plans

The automaker's Ford Land development arm announced Tuesday it expects to seek $250 million in tax incentives to help offset the cost

What to Know

  • Ford plans to spend hundreds of millions renovating Detroit's blighted train depot and other area properties
  • The automaker wants to use the spaces for research and development of self-driving vehicles
  • Detroit has had a long decline from its status as a manufacturing powerhouse, and Ford plans to fix up the depot over the next several years

Ford Motor Co. plans to spend roughly $740 million renovating Detroit's long vacant train depot and redeveloping other area properties for research and development of self-driving vehicles.

The Dearborn-based company in June used the Michigan Central depot as a backdrop while publicly laying out plans for the 105-year-old train station and surrounding Corktown neighborhood, but the anticipated cost wasn't detailed.

The automaker's Ford Land development arm announced Tuesday it expects to seek $250 million in tax incentives to help offset the cost.

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Ford's plans call for the depot to be redeveloped over the next several years. The last passenger train left the station in 1988. A businessman purchased the building in the mid-1990s, but it remained empty and became blighted, exemplifying Detroit's long decline from manufacturing powerhouse to bankruptcy.

Copyright AP - Associated Press
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