Toyota announces $1.3 billion investment in Kentucky plant
Toyota Motor Manufacturing Kentucky Inc. announced Monday they will be investing $1.3 billion in their Georgetown, Kentucky plant, continuing their long-term commitment to the Commonwealth.
According to a release, Toyota’s investment will be in a comprehensive project that will prepare the facility for new platform, streamline production processes, and improve vehicle safety, quality and efficiency.
Toyota, a member of the Kentucky Chamber of Commerce, employs 8,200 individuals at the Georgetown plant and has a production capacity of 550,000 vehicles and more than 600,000 engines annually. The company says the upgrades in Kentucky amount to its biggest single investment ever at an existing plant in the United States.
On Monday, Toyota Motor Manufacturing of Kentucky President Wil James, a former Kentucky Chamber Board Chair, said the new investment by the company “speaks directly to the quality of our people and our products, as well as the partnerships we’ve forged in the local community and across the state.”
Kentucky Gov. Matt Bevin said Toyota’s investment in Kentucky helps continue to make the state a leader in manufacturing across the nation.
“This investment is absolute proof the Kentucky Toyota plant is not only a leader in manufacturing under the Toyota umbrella, but throughout the world,” Gov. Bevin said. “It directly points to the hard work and dedication of the plant’s employees, as well as Toyota’s commitment to our Commonwealth.”
Kentucky Chamber President and CEO Dave Adkisson applauded the news on Monday, expressing the importance of companies like Toyota bringing investment and commerce into the state.
“Toyota’s $1.3 billion dollar investment will ripple across Kentucky,” Adkisson said.