Detroit is a city moving forward; I have seen the evidence.
Yesterday, I visited the Detroit Public Dock and Terminal Project, a terrific example of what we can accomplish when federal, state, and local governments team up with the private sector to invest in the future.
This is truly an exciting project that will help the City of Detroit reclaim its waterfront, introduce new ferry service, and invite cruise ships to call from all over the world. With this facility, commuters, day-trippers, and tourists can step ashore and enjoy all that Detroit has to offer. It's a great idea.
And there's more good news: the project creates over 450 construction jobs. I met a few of the folks hired for this project yesterday, and got a good sense of how fortunate they feel. That's Recovery Act money in action.
Indeed, stimulus spending has provided a down payment on Michigan's new future:
- $1 billion for car battery and electric vehicle projects that will generate 40,000 more jobs
- More than $1.6 billion for long-term investments in transportation and infrastructure projects.
- Already, more than 400 stimulus-funded highway projects are under way in Michigan today.
I also visited the Ford Motor Company on Monday. And there's lots to celebrate there as well.
I saw innovative fuel-efficiency technology and some great ideas for curbing distracted driving.
Ford has renewed confidence in its strategy and its future. It has increased production. It has offered people cars they want to drive. And it stood by President Obama as we announced setting aggressive new fuel economy and greenhouse gas emission standards for cars and light-duty trucks.
The Cash for Clunkers program has certainly sparked the auto industry's engine by spurring production increases and generating the equivalent of 21,000 year-round full-time jobs. Nationwide, the program has put more than $2.8 billion into dealers' pockets, and nearly all vouchers have been paid.
In Michigan alone, 31,000 auto dealers are collecting more than $130 million in reimbursements through this program. But competition for buyers' vouchers was steep, and Ford's line was competitive.
Finally, I want to mention the efforts of Governor Granholm, Senators Levin and Stabenow, and Members of Congress Dingell, Kilpatrick, and Miller for their efforts to reposition Detroit and Michigan for the future. These leaders have seen this economic moment is an opportunity for transformation, and are making sure their city and state claim a bright future.
Whether it's the Detroit Public Dock and Terminal project or making sure Michigan is the center of new energy-efficient automotive technologies, this team is working hard to build a new economic foundation for the people of Michigan.
I have seen the evidence of that new foundation, and I'm a believer.