There’s no indication yet that this is the direct result of a deal made by Trump but he certainly deserves credit for creating an environment that’s hospitable to business.
The more companies that invest in America, the better for all Americans.
Toyota announces $1.33B investment in Kentucky plant
Automobile manufacturer Toyota announced a $1.33 billion investment in its Georgetown, Ky., plant on Monday.
The plant will be the first to produce vehicles using Toyota New Global Architecture, a design and manufacturing process initiated to speed a car model’s development cycle, a Toyota Motor Manufacturing, Kentucky, Inc., statement said.
“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.”
The Georgetown plant is Toyota’s largest in the world, with 8,200 employees. In 2016 it produced 500,000 vehicles, or 25 percent of all Toyota models sold in North America, the statement said. It manufactures the Toyota Camry model, and Lexus models.
The people of Kentucky will benefit greatly from this.
Good move, Toyota!