Ford highlighted ongoing discussions with Detroit Mayor Mike Duggan to address the next phase of development, which includes stemming the outflow of young talent by providing opportunities within the city. He noted the importance of creating "graduate" space for startups that outgrow Newlab, ensuring they remain in Detroit to expand.
The Michigan Central project has also fostered collaboration across the automotive industry. Ford emphasized the strong relationships he has forged with GM and Stellantis, all united by a common goal of building a thriving community.
"You can't have a healthy company if you don't have a healthy community in which it resides," he said.
Looking ahead, Ford said plans are underway to further enhance the station. A hotel is planned for the upper floors, with an announcement expected later this year. Additionally, discussions with Amtrak are progressing to reestablish rail connections between Detroit, Toronto, and Chicago, further integrating the city into the regional economy.
When asked about the status of conversations with the new presidential administration, Ford addressed the need for consistent policy from Washington to support long-term business investment and American manufacturing.
"The difficulty for the whole auto industry is that our lead times are longer than political lead times. We can adjust to almost anything as long as we know what that path is. But what's really hard for us is the 'start, stop, start stop' when policy changes all the time,” he said, referring to the challenges resulting from the shifts back and forth between which political party occupies the White House.
Ford underscored the importance of policymakers understanding the impact of changing policies that affect the automotive industry and its suppliers.
"We're spending a lot of time making sure that the administration understands the implications for our business because they really do want a very strong American manufacturing base," he said.
Reflecting on having three of his four children working at the company, Ford shared a guiding principle: "To whom much is given, much is expected."
“They understand they’re fortunate to be in the position they’re in and that the company is much more than just a job. It’s an obligation. It’s a way of life,” he said. "They also understand that any great company has to be a values-led company … the underlying values, taking care of each other, taking care of the communities in which we operate. Those kinds of values are timeless.”
Ford and his wife Lisa have demonstrated a deep commitment to the community, spearheading an effort that raised nearly $20 million for Detroit's children's charities, creating endowments to provide long-term financial stability.
“We raised money to create endowments for these kids’ charities so that they can actually focus now on fundraising for true impact programs and not have to worry how they’re going to pay the heating bill or any of those things,” he said.
This is the second time Bill Ford made headlines as Crain’s Newsmaker of the Year. The first time was in 2018 when he was recognized for engineering the purchase of the dilapidated Michigan Central Station, promising to rehabilitate the iconic symbol and turn it into an urban campus to compete with Silicon Valley for top talent.
