Michigan Central Station media event in June.
(Nancy Derringer photo)
Ford Motor Co. will spend hundreds of millions of dollars to develop its 1.2-million-square-foot Corktown campus, which includes the Michigan Central Depot.
The automaker says it plans to spend as much as $740 million on the campus, and will seek $250 million over 34 years through local, state, federal tax incentives to offset the cost, reports Mark Hicks of The Detroit News.
“We are excited by the opportunities that Ford’s investment in the train station and other key Corktown sites will bring, not only for the larger resurgence of the neighborhood but all of Southeast Michigan, including economic growth, attracting world-class talent and leading the development for the next generation of the automotive industry,” Ford Land says in a statement.
“Given Ford’s investment in the Corktown projects, we are actively working with federal, state and local officials for tax and other incentives to support the development.”
