It was established by American industrialist Henry Ford in the Amazon Rainforest in 1928 as a prefabricated industrial town intended to be inhabited by 10,000 people to secure a source of cultivated rubber for the automobile manufacturing operations of the Ford Motor Company in the United States. Ford had negotiated a deal with the Brazilian government granting him a concession of of land on the banks of the Rio Tapajós near the city of Santarém, Brazil, in exchange for a 9% share in the profits generated. Ford's project failed, and the city was abandoned in 1934.