US facility · Autos
Toyota adds $700 million and 150 jobs at its Indiana plant
- Company
- Toyota Motor (Toyota City, Aichi)
- Project
- Toyota Motor Manufacturing Indiana, Princeton, Indiana
- Value
- $700M
- Status
- Announced. The 150 jobs were planned by the end of 2022.
- Date
- 2020-01-17
Toyota said it would invest another $700 million in its Princeton, Indiana plant and add 150 jobs by the end of 2022. The money completes a modernization that began with a $600 million, 400-job project announced in 2017 for the Highlander SUV, bringing the combined spending to $1.3 billion. The plant employs about 7,000 people and works with about 80 Indiana suppliers.
Why it matters
It showed Toyota continuing to put money into its US plants while the trade relationship was being reset, and set up the line for later three-row SUVs.
The plant in 2020
Since 1996 Toyota had put more than $5 billion into the 4-million-square-foot Princeton plant, which could build more than 383,000 vehicles a year. In 2019 it built more than 362,000 Highlander, Highlander Hybrid, Sienna and Sequoia models. The news came as the all-new 2020 Highlander started production there.
A record of growth
Toyota called this the plant's fifth big expansion in recent years. It moved all Highlander production to Indiana in 2012, added the Highlander Hybrid in 2013 and raised Highlander output by 30,000 a year in 2014.
Support and training
Indiana offered $6 million in performance-based tax credits tied to up to 550 jobs. Toyota also pledged $1 million to a regional program linking high school students with advanced manufacturing careers.
Sources
Kakehashi M&A News home
