Ford, JPMorgan and Michigan launch $3B initiative to scale manufacturing suppliers

Overview

Updated Oct 18

Ford wants to buy from smaller suppliers, JPMorgan wants to lend to them, and Michigan wants them building within its borders; on September 29, the three launched Michigan LIFT to make that happen.

The platform's first four Open Calls are live, covering flexible material assembly, advanced metal components, brownfield manufacturing equipment, and alternative manufacturing inputs. Ford aims to award $1 billion in contracts over the decade; JPMorgan aims to lend $1 billion to suppliers. Labor Secretary Keith Sonderling has cited the initiative as a win for the administration's reshoring agenda.

Why it matters

Manufacturing suppliers often can't find customers or capital to scale. LIFT pairs both with workforce support, shaping where critical US supply chains get built.

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Key Indicators

$1B

Ford's contract target for LIFT suppliers

Ford aspires to award up to $1 billion in business through the platform over the next decade.

$1B

JPMorganChase financing target

The bank aspires to lend up to $1 billion to LIFT suppliers, part of its Security and Resiliency Initiative.

$3B

Total initiative commitments

Combined contract, financing and demand aspirations across founding partners.

1.7M

Annual US skilled-trades openings through 2035

Per the Alliance for America's Skilled Trades report released alongside the launch.

55%

Trades workers trained per 100 needed

Nationally, training programs produce 55 workers for every 100 skilled-trades hires required.

Voices

Curated perspectives — historical figures and your fellow readers.

People Involved

Jim Farley

President and CEO, Ford Motor Company

Leading Ford's supplier and workforce initiatives

Jamie Dimon

Chairman and CEO, JPMorganChase

Championing public-private manufacturing capital

Gretchen Whitmer

Governor of Michigan

Championing LIFT as the state's public-sector partner

Organizations Involved

Ford Motor Company

Automaker

Anchor industrial buyer for Michigan LIFT

The American automaker serving as LIFT's anchor industrial buyer.

JPMorgan Chase

Investment bank

Founding capital provider for Michigan LIFT

The bank aspiring to finance up to $1 billion for LIFT suppliers.

Michigan Economic Development Corporation (MEDC)

State economic development agency

Public-sector participant in Michigan LIFT

Michigan's public-private economic development arm, deploying state tools to support LIFT suppliers.

Michigan Central

Technology and cultural innovation hub

Physical testing and scaling partner for LIFT

A 30-acre innovation district in Detroit's Corktown, offering space for prototype-to-production work.

Newlab

Startup incubator

Commercialization support partner for LIFT

Hard-tech incubator planning $20 million in in-kind support for LIFT.

Timeline

June 2026 October 2026

7 events Latest: October 2026

Tap a bar to jump to that date

October 2026
Labor Secretary Sonderling touts LIFT as administration win
Latest Policy

Labor Secretary Keith Sonderling cites the Ford and JPMorgan commitments behind Michigan LIFT as a win for the Trump administration's economic agenda, pointing to reshoring and manufacturing jobs.
October 2026
September 2026
Ford holds second ACCELERATE conference
Conference

Ford convenes suppliers, trades workers and leaders. The Alliance for America's Skilled Trades releases its first report: 18 million US trades workers contribute $3.8 trillion to GDP, and employers will need 1.7 million openings a year through 2035.
September 30th, 2026
Dimon pushes US-Europe free trade pact
Policy

JPMorganChase CEO Jamie Dimon calls for a broad US-Europe trade agreement to counter China's influence, days after co-founding LIFT to back US manufacturing supply chains.
September 30th, 2026
Michigan LIFT launches in Detroit
Launch

Ford, JPMorganChase, the State of Michigan, Michigan Central and Newlab unveil the $3 billion public-private platform.
September 29th, 2026
First four Open Calls revealed
Program

Michigan LIFT launches with four supplier challenges: flexible and non-rigid material assembly, advanced metal components, brownfield manufacturing equipment, and qualification of alternative manufacturing inputs.
September 29th, 2026
July 2026
Alliance for America's Skilled Trades forms
Coalition

Ford, BlackRock, Google and Carhartt launch a corporate coalition to address the skilled-trades shortfall, later releasing a benchmark report.
July 2026
June 2026
Michigan Resiliency Summit held in Detroit
Summit

JPMorganChase and the State of Michigan gather industrial, financial and government leaders; the LIFT concept emerges from identified scaling hurdles.
June 2026

Scenarios

First LIFT suppliers win Ford production contracts

Possible Resolves by Q3 2027

Discussed by: Ford and Michigan officials in the program announcement

Ford posts initial Open Calls in robotics, advanced energy, mobility, critical minerals and life-sciences manufacturing. Suppliers respond, and the first matched companies advance through qualification to sign production contracts within the program's first year. Ford's $1 billion target suggests the first deals would be technology pilots or component supply agreements.

Michigan LIFT attracts new industrial buyers beyond founding partners

Possible Resolves by Q3 2028

Discussed by: MEDC, Michigan Central and Newlab, which target 10–20 additional buyers

The founders aim to bring in ten to twenty additional industrial buyers representing over $1 billion in annual demand by 2036. Buyers need not be based in Michigan, so expansion could come from other automakers, defense contractors or energy companies seeking to reshore critical supply chains.

JPMorganChase closes its first LIFT supplier financing deal

Possible Resolves by End of 2027

Discussed by: JPMorganChase, which positions LIFT within its $1.5 trillion Security and Resiliency Initiative

The bank aspires to provide up to $1 billion in debt capital to LIFT suppliers. The first deal would involve a supplier matched through an Open Call that completed qualification and needs expansion financing, likely for equipment, facilities or working capital tied to a confirmed customer order.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

December 2008 – July 2009

Auto Industry Bailout and Restructuring (2008–2009)

The federal government lent General Motors and Chrysler roughly $80 billion through the Troubled Asset Relief Program during the financial crisis, forcing debt restructuring, plant closures and union concessions. GM emerged from bankruptcy in 2009 with the government holding a 60% stake; Chrysler exited under Fiat management.

Then

Both automakers survived bankruptcy and repaid most of the loans by 2014; the government ultimately recovered most of its investment.

Now

Establishing a precedent for the federal government actively intervening in private manufacturing, a template critics and supporters still debate.

Why this matters now

Like the bailout, LIFT coordinates government and private capital around manufacturing, but it uses market demand rather than rescue funds, and operates at the state rather than federal level.

August 2022 – present

CHIPS and Science Act (2022)

Congress authorized roughly $52 billion in subsidies and investment tax credits to build US semiconductor fabrication capacity, pairing federal grants with private capital commitments from companies like Intel, TSMC and Samsung to construct fabs in Arizona, Ohio and Texas.

Then

Companies announced over $400 billion in private investment following the act, creating thousands of construction and manufacturing jobs.

Now

Signaled a federal industrial-policy pivot toward public-private matching for critical technology supply chains, an approach now echoed at state level by LIFT.

Why this matters now

LIFT uses the same public-private matching mechanism as the CHIPS Act, but it is demand-led (starting from manufacturer problems) and regional rather than subsidy-led.