Toyota Adding Princeton JobsPosted: Updated:
Toyota Motor Manufacturing Indiana Inc. says a planned $30 million investment could bring additional jobs to Princeton. The company intends to increase production of its Highlander SUV model at the plant next year. The move could create more than 200 jobs. July 26, 2013
ERLANGER, Ken. - As consumer demand for Toyota's Highlander continues to grow, the company's Princeton, Ind. plant is planning to grow with it. Toyota announced today it will increase production of the Highlander mid-size SUV in late 2014 with a $30 million investment in Princeton.
The project will create more than 200 new jobs at Toyota Motor Manufacturing Indiana, Inc. (TMMI), with new team members helping to increase production volume by 15,000 units. This expansion raises total employment to approximately 4,700 and total plant investment to more than $4.2 billion.
Today's announcement is Toyota's tenth production increase announcement in the past 20 months including Toyota plants in Huntsville, Ala., Buffalo, W. Va., Georgetown, Ky., and ntario, Canada. Cumulative investment total is approximately $2 billion, adding more than 4,000 jobs.
"This capacity increase is to meet growing demand for the Highlander and is a part of our strategy to build vehicles where we sell them," said TMMI President Norm Bafunno. "We appreciate our loyal customers who value the quality cars our dedicated team members build in Princeton, and we're excited to build even more Highlanders."
Toyota's Indiana plant builds a gas version of the popular Highlander and will begin producing the hybrid version before year-end. The new production volume added will be the gas model version.
Soon, Highlanders born in Indiana will find new homes with drivers in Russia and Australia as TMMI is set to begin exporting to those countries later this year.
TMMI currently employs 4,500 team members and builds the Highlander, Sequoia full-size SUV and Sienna minivan. Current production capacity is 300,000 vehicles and will increase to 50,000 later this year as announced in February 2012. Today's news raises TMMI's annual capacity to 365,000 vehicles by late 2014.
Toyota (NYSE:TM) established operations in North America in 1957 and currently operates 14 manufacturing plants. There are more than 1,800 Toyota, Lexus and Scion dealerships in North America which sold over 2.3 million vehicles in 2012. Toyota directly employs nearly 39,000 people in North America and its investment here is currently valued at more than $24.5 billion, including sales and manufacturing operations, research and development, financial services and design. Toyota's annual purchasing of parts, materials, goods and services from North American suppliers totals nearly $30 billion. Toyota currently produces 12 vehicles in North America, including the Avalon, Camry, Corolla, Highlander, Matrix, RAV4, Sienna, Sequoia, Tacoma, Tundra, Venza and the Lexus RX 350. For more information about Toyota, visit www.toyota.com or www.toyotanewsroom.com.
Source: Toyota Motor Manufacturing Indiana Inc.
July 26, 2013
Statement From The Office of Evansville Mayor Lloyd Winnecke
EVANSVILLE, Ind. - Mayor Winnecke Congratulates Toyota on $30 million investment at Princeton, Ind. Plant:
"Congratulations to Toyota Motor Manufacturing, Indiana, Inc. (TMMI) for continuing to demonstrate the company's commitment to the people of Southwestern Indiana. The investment of $30 million at the TMMI Princeton, Ind. Plant, and the creation of 200 new jobs is proof the economy in our region is making a strong recovery. Our administration looks forward to more economic development announcements in the very near future that will position Southwestern Indiana for prime growth for years to come."
Source: The Office of Evansville Mayor Lloyd Winnecke