Toyota proposes $ 460.8 million expansion at Georgetown plant – Lexington-Fayette, Kentucky

Lexington-Fayette, Kentucky 2021-10-28 16:30:31 –

Georgetown, Kentucky (LEX 18) — Toyota plans to expand $ 460.8 million for “advanced technology vehicles” at its Georgetown manufacturing plant.

On Thursday, the Kentucky Department of Economic Development and Finance approved tax incentives for projects currently up to $ 212.5 million. According to a KEDFA report, Toyota plans to “build a state-of-the-art vehicle production line that can flexibly manufacture sedans, SUVs, and future advanced technology vehicles.”

Governor Andy Beshear said at a press conference Thursday that he would announce a “more than $ 400 million investment” in the state, but did not elaborate on the details. The governor said details will be announced on Friday.

This expansion is expected to create more than 950 full-time jobs. The Georgetown plant is Toyota’s largest manufacturing plant in the world.

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