Toyota Announces Additional $700M Investment In Indiana

Toyota Motor Manufacturing Indiana will complete the modernization project at its Princeton operations, and add 150 more new jobs.


https://businessfacilities.com/2020/01/toyota-announces-additional-700m-investment-in-indiana/
Toyota Motor Manufacturing Indiana will complete the modernization project at its Princeton operations, and add 150 more new jobs.
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Toyota Announces Additional $700M Investment In Indiana

Toyota Motor Manufacturing Indiana will complete the modernization project at its Princeton operations, and add 150 more new jobs.

Toyota Announces Additional $700M Investment In Indiana

Executives at Toyota Motor Manufacturing Indiana (TMMI), one of only four Toyota automotive assembly facilities in the U.S., have announced an additional $700 million investment in the company’s Princeton operations and the addition of 150 more new jobs by the end of 2022, completing the transformation of its plant modernization project announced in January 2017.

Toyota Motor Manufacturing Indiana (TMMI)
(Photo: Toyota)

“Part of Toyota’s tremendous success in North America is building vehicles where we sell them,” said Christopher Reynolds, chief administration officer, manufacturing and corporate resources for Toyota Motor North America. “Our $1.3 billion investment at TMMI is further proof that our Hoosier workforce is rededicated to producing safer, high-quality vehicles our customers love to drive.”

The news comes three years after TMMI announced plans to invest $600 million to meet demand for the Highlander midsize SUV and modernize TMMI’s entire four million-square-foot plant, adding up to 400 new jobs in Princeton. The investment will support retooling, new equipment installation and advanced manufacturing technologies to further modernize the facility and meet consumer demand for the all-new 2020 Toyota Highlander. Since 1996, TMMI has invested more than $5 billion in its Princeton plant, which has the capacity to assemble more than 383,000 vehicles annually.

TMMI employs approximately 7,000 people in southwest Indiana and supports approximately 80 suppliers across Indiana. According to Toyota’s economic impact calculations, TMMI’s presence in Indiana has led to the creation of 24,058 jobs over the last 20 years.

“Hoosier manufacturers are driving our economy forward, building the products that power our world every day,” said Governor Eric J. Holcomb. “For more than 20 years, Toyota has been providing quality career opportunities and helping train Indiana’s future workforce. I am so grateful that Toyota remains committed to Indiana, and am thankful for all they are doing to continue making Indiana the best place to live, work and play.”

Last year, the Indiana plant produced more than 362,000 units of the Toyota Highlander, Highlander Hybrid, Sienna and Sequoia. This marks the company’s fifth significant expansion in recent years. In addition to its 2017 announcement, TMMI consolidated all Highlander production to Indiana in 2012, added production of the Highlander Hybrid model in 2013, and announced plans to increase production of the Highlander by 30,000 vehicles per year in 2014.

In addition to the plant investment, TMMI announced its commitment of $1 million to a new, regional workforce program that will connect high school students with career opportunities in advanced manufacturing.

“This program will allow students to get a jump start on their careers while receiving hands-on training with industry experts and educators,” said Leah Curry, Toyota Indiana plant president. “By collaborating with our local schools, we are creating a workforce solution—but, more importantly—providing greater visibility to student career options and pathways in the region.”

The Indiana Economic Development Corporation (IEDC) offered Toyota Motor Manufacturing Indiana $6 million in conditional tax credits based on its plans to create up to 550 total jobs in Princeton. These incentives are performance-based, meaning the company is eligible to claim incentives once employees are hired.

TMMI is one of more than 324 Japanese business establishments in Indiana that together employ more than 67,000 people. Among all U.S. states, Indiana has the largest amount of Japanese investment per capita and is one of only two states that is home to three Japanese automotive original equipment manufacturer (OEM) companies.

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