Toyota Meets Investment Pledge For The US One Year Early

March 18th, 2024 by

Toyota has been building a strong presence in the United States for over 60 years, using innovation and a dedication to quality and value as its selling points to consumers and investors alike. The company continues to show its commitment by meeting the investment goal in four years instead of the five promised in 2017.

New Jobs And Investments

Toyota had set a goal to deliver an investment of $13 billion in five years, making this commitment in 2017. The manufacturer announced that it had already reached this goal one year early and added over 6500 new jobs during that time.

Some of the key areas of focus for this commitment were in places like Princeton, IN where 400 new jobs were added with a plant modernization project and $600 million invested. Another 600 jobs were added in five locations with vehicle and unit plant expansions. The largest single investment took place in Huntsville, AL with $800 million and 4,000 new jobs with a Greenfield vehicle manufacturing facility partnering with Mazda.

The two largest investments were around $1 billion with the first in Georgetown, KY for advanced technologies. The second was the completion of new regional corporate headquarters in Plano, TX where 1,000 new jobs were added.

Additional Investments In The US

Another nearly $6 billion was invested into general plant upgrades, R&D, supplier tooling, and other administration costs. An investment of $1 billion went to the Toyota Research Institute. Currently, there are nine manufacturing facilities as well as the joint project with Mazda. There are also almost 1,500 dealerships across the country and more than 180,000 people employed by Toyota. The company has invested over $28 billion directly into the US through these channels.

The next step is the United States-Mexico-Canada Agreement (USMCA), which is another aggressive content requirement. As Toyota continues to innovate and excel in the automotive industry as a leader in technology, new challenges will be formulated and reached.

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