Toyota Plans $1.3 Billion Investment in Kentucky Plant

Having more than 8,200 team members Toyota’s largest plant in the world is in Georgetown, KY. The company says that they produced more than 500,000 vehicles in 2016.

Toyota makes its popular vehicle, Camry, in this massive plant in Georgetown. The carmaker is ready to spend more than a billion dollars in order to update the way their vehicles are built.

“Toyota’s Camry is the best-selling car in America,” NPR’s Sonari Glinton reports, “and according to a survey by Cars.com, the Camry is the most American-made car, meaning it’s made in the U.S. and so are most of its parts.”

During the next five years Toyota plans is to invest $10 billion in the U.S.

“This $1.33 billion investment is part of Toyota’s plan to invest $10 billion dollars in the U.S. over the next five years, on top of the nearly $22 billion Toyota has invested in the U.S. over the past 60 years,” said Jim Lentz, CEO of Toyota Motor North America. “Toyota New Global Architecture is about exciting, ever-better vehicles for our customers as it will improve performance of all models, including increased fuel efficiency, more responsive handling, and a more stable, comfortable feel while driving.”

This company will be one of the first in North America to use Toyota’s new ‘global structure’. This includes way to build cars, shortening time and making the facility more flexible to future changes in designing vehicles. This means production of better cars and ability to respond to customer demands while on the road. New paint shop is in plan as well, with updated equipment and construction.

“This is the largest investment in our plant’s history and it 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,” said Wil James, president, Toyota Motor Manufacturing, Kentucky, Inc. (TMMK). “This major overhaul will enable the plant to stay flexible and competitive, further cementing our presence in Kentucky.”

Looking at the total, this plant has produced more than one-third of all Toyota vehicles that are manufactured in North America since 1986, 11 million to be exact.

“Toyota’s decision to invest $1.3 billion in their Kentucky plant is further evidence that manufacturers are now confident that the economic climate has greatly improved under my administration and echoes the recent National Association of Manufacturers’ 2017 Outlook Survey showing that 93% of manufacturers are now optimistic, which is an increase of 37% from just a few months ago,” said President Donald J. Trump.

“Toyota is a global icon. This $1.33 billion investment is further proof of their commitment to producing American-made cars that are among the finest quality found anywhere in the world,” said Governor Matt Bevin. “It also serves as a testament to the hard work and dedication of the plant’s current employees, and reaffirms Toyota’s confidence in the advantages of manufacturing in Kentucky. We are grateful that this significant investment further validates the fact that Kentucky is the engineering and manufacturing hub of excellence in America.”

“Today’s announcement is welcome news for Kentucky’s economy and our workforce,” Senator Mitch McConnell said. “For more than 30 years, Toyota has been committed to the Commonwealth, and today’s investment is further proof that the company maintains its pledge to grow our economy and solidify Kentucky as a world-class automotive state. I want to congratulate the Toyota team, especially its thousands of hard-working Kentuckians.”

A recent study by Center for Automotive research shows that Toyota Kentucky supports almost 30,000 jobs, directly or indirectly in the state, and has more than 100 suppliers that are located across Commonwealth.

“Toyota is a great asset to Kentucky and the decision to continue its commitment to Kentucky jobs by investing in the Georgetown plant is wonderful news for the Commonwealth and a reflection of its confidence in Kentucky as a prime location for business growth and innovation,” said Senator Rand Paul. “I congratulate Toyota on this new initiative, and look forward to continuing my efforts in Congress to promote business-friendly policies to ensure Kentucky continues to reap the benefits of economic growth and expansion as a result of these types of investments.”

“This major investment further solidifies Toyota’s long-term commitment to its Kentucky plant,” said Secretary Terry Gill of the Kentucky Cabinet for Economic Development. “Its ripple effects will add to Toyota’s three decades of transformative impact on our communities and for our residents across the Commonwealth. Additionally, this strengthens Kentucky’s status as a top state for auto manufacturing.”

Toyota is also helping Scott County for economic development. Three properties at Lanes Run Business Park, nearly 22 acres, $1 million for future land purchase are donated by Toyota. Additionally, Toyota is investing $2 million over the next 10 years to Scot County for economic growth and profit for the all region, as well as community.

http://pressroom.toyota.com/video_display.cfm?video_id=33955