Toyota invests record $1.33 billion in Georgetown plant
GEORGETOWN (April 10, 2017)—Toyota announced it is investing $1.33 billion in its manufacturing plant in Georgetown. This is the largest investment any automaker has made in Kentucky. It will be the first plant in North America to begin producing vehicles using Toyota New Global Architecture (TNGA).
“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.”
The company says TNGA will shorten the development cycle for vehicle improvements and new vehicles. In addition to TNGA improvements, TMMK will undergo other makeovers that will, together, modernize and streamline the production process. That includes updating equipment and construction of an all-new paint shop.
“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,” said Jim Lentz, CEO of Toyota Motor North America.
Toyota Kentucky is the automaker’s largest plant in the world, employing 8,200 team members. This represents an all-time high after recently adding over 700 people to support the upcoming launch of the 2018 Camry.
Last year, TMMK produced nearly a quarter of the total number of Toyota vehicles produced in North America—over 500,000. In total, the plant has produced more than one-third—11 million—of all Toyota vehicles manufactured in North America since 1986. Today’s announcement adds to the $530 million investment the plant committed to in 2013, in part to support Lexus production. This brings Toyota Kentucky’s investment in the last four years to approximately $1.86 billion.
“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 the Center for Automotive Research shows Toyota Kentucky supports nearly 30,000 jobs across the state (direct, indirect, and spin-off). TMMK employees live in 80 Kentucky counties, and currently Toyota has more than 100 suppliers located across the 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.”
