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Ford announced it would invest $700 million in its Kentucky Truck Plant in Louisville. The project is expected to add 500 jobs to the workforce of approximately 8,700 employees.

News of the development followed a state board’s approval of incentives for the automaker. Ford said it would use most of the investment to retool machinery at the factory, which manufactures Ford Expeditions, Lincoln Navigators, and Ford Super Duty pickup trucks and chassis cabs. The company added that funds would also go toward the production of new Super Duty pickup models.

The same day of the announcement, Ford introduced its new lineup of F-Series Super Duty trucks at Louisville’s Churchill Downs racetrack. Kentucky Gov. Andy Beshear applauded the move and cited the automaker’s relationship with the state.

The Kentucky Truck Plant investment marks another Ford project in the Bluegrass State. A year ago, the company revealed plans to invest $5.8 billion in a pair of electric vehicle battery manufacturing plants, which will create 5,000 jobs. Operations are scheduled to begin in three years.

Ford also operates the Louisville Assembly Plant, which produces Ford Escapes and Lincoln Corsairs. That factory employs 3,400 workers.