Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -Trailblazer Wealth Guides
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-23 06:29:51
GEORGETOWN, Ky. (AP) — Toyota said Thursday it will build a new paint facility as part of a $922 million investment at its factory complex in Georgetown, Kentucky, making it the second big addition announced this year at the automaker’s largest global manufacturing plant.
In February, the company said it would invest $1.3 billionat its Kentucky complex, in part so it can build an all-new three-row electric SUV to be sold in the U.S.
Neither project will add any new jobs at the facility, which now employs about 10,000 workers. However, the investments reinforce Toyota’s commitment to long-term job stability, the company said.
The new paint facility, scheduled to open in 2027, will add 1 million square feet of capacity while decreasing carbon emissions by 30% and water usage by 1.5 million gallons per year, Toyota said.
It will enable the company to offer more diverse color options for its vehicles, the company said.
“Toyota’s commitment to advanced paint technologies goes beyond aesthetics,” said Kerry Creech, president of Toyota Kentucky. “It encompasses efficiency, sustainability and quality, leading the industry in environmentally responsible manufacturing.”
The project also will increase flexibility for future vehicle production and advances Toyota’s goal to achieve zero carbon emissions by 2050, the automaker said.
Toyota’s investment in the Bluegrass State has surpassed $11 billion since breaking ground at the central Kentucky site in 1986. Georgetown is 16 miles (26 kilometers) north of Lexington, Kentucky.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (37)
Related
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- Medicaid expansion proposal advances through Republican-led Mississippi House, will go to Senate
- Washington state House overwhelmingly passes ban on hog-tying by police
- Surge in Wendy’s complaints exposes limits to consumer tolerance of floating prices
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Owners of St. Louis nursing home that closed abruptly face federal fine of more than $55,000
- McConnell will step down as the Senate Republican leader in November after a record run in the job
- Norwegian Dawn cruise ship allowed to dock in Mauritius after cholera scare
- 'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
- Washington state House overwhelmingly passes ban on hog-tying by police
Ranking
- Trump wants to turn the clock on daylight saving time
- Utah House kills bill banning LGBTQ+ Pride flags and political views from classrooms
- Caitlin Clark and her achievements stand on their own. Stop comparing her to Pistol Pete
- USA TODAY's Women of the Year share their best advice
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- Caleb Williams said he would be 'excited' to be drafted by Bears or Commanders
- White powder sent to judge in Donald Trump’s civil fraud case, adding to wave of security scares
- NYC officials clear another storefront illegally housing dozens of migrants in unsafe conditions
Recommendation
As Trump Enters Office, a Ripe Oil and Gas Target Appears: An Alabama National Forest
In two days, the Smokehouse Creek Fire has grown to be the second-largest in Texas history
Congressional leaders strike deal on government funding as shutdown looms
This ‘Love is Blind’ contestant's shocked reaction to his fiancée went viral. Can attraction grow?
Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
A former Georgia police officer and a current one are indicted in a fatal November 2022 shooting
WWE Wrestling Star Michael Virgil Jones Dead at 61
Small business owners report growing optimism about the U.S. economy