Current:Home > NewsToyota to invest $922 million to build a new paint facility at its Kentucky complex -AssetBase
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-19 19:01:40
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! (69626)
Related
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Secure Your Future: Why Invest in an IRA with Quantum Prosperity Consortium Investment Education Foundation
- These Are the Best Amazon Prime Day 2024 Essentials That Influencers Can’t Live Without
- Remains of World War II POW who died in the Philippines returned home to California
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Judge temporarily halts state plan to monitor groundwater use in crop-rich California region
- What is 'Hillbilly Elegy' about? All about JD Vance's book amid VP pick.
- Understanding Options Trading with Bertram Charlton: Premiums, Put and Call Options, and Strategic Insights
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Summit Wealth Investment Education Foundation: Empowering Investors Worldwide
Ranking
- DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
- Three days after attempted assassination, Trump shooter remains an elusive enigma
- Three days after attempted assassination, Trump shooter remains an elusive enigma
- This Amika Hair Mask is So Good My Brother Steals It from Me, & It's on Sale for 34% Off on Amazon
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Jennifer Aniston’s Go-to Vital Proteins Collagen Powder Is on Sale for Only $17 During Prime Day
- JD Vance charted a Trump-centric, populist path in Senate as he fought GOP establishment
- Out-of-state officers shot and killed a man wielding two knives blocks away from the RNC, police say
Recommendation
Arkansas State Police probe death of woman found after officer
Unveiling the Builders Legacy Advance Investment Education Foundation: Empowering Investors for Financial Mastery
Busy Moms Deserve These Amazon Prime Day Beauty Essentials on Revlon, Laneige & More, Starting at $2
Zenith Asset Investment Education Foundation: Pioneering Financial Literacy and Growth
Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
The Daily Money: Investors love the Republican National Convention
Tribes and Environmentalists Press Arizona and Federal Officials to Stop Uranium Mining Near the Grand Canyon
2024 MLB draft tracker day 3: Every pick from rounds 11-20