Toyota Motor Co.’s car assembly plant in Georgetown, Ky., has proposed a $531 million expansion that would create another 750 full-time manufacturing jobs in Central Kentucky, the state’s economic development office disclosed Wednesday.
Toyota Motor Manufacturing Kentucky Inc. is considering the addition of a new vehicle model that would add 50,000 cars to its targeted annual production, beginning in the fall of 2015, according to a report released by the Kentucky Economic Development Finance Authority. The proposed project includes $63 million of building expansion and improvements and $326 million of equipment, plus $142 million of tooling, packaging and other investments.
The state has approved up to $147 million in tax incentives, subject to project completion, including the retention of 6,169 existing full-time jobs at the sprawling Georgetown plant.
The Scott County facility began operations in 1988 and has been expanded multiple times since then. It’s the largest Toyota plant in North America. It currently assembles Camry, Avalon and Venza car models and also does machining and assembly of engines, axles, steering and engine components.
The $6 billion, 7.5 million-square-foot plant is an hour’s drive south of Toyota’s North American manufacturing and engineering headquarters complex in Erlanger.
- Courtesy of Business Journal
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