Toyota announces multi-million dollar investment into Indiana

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PRINCETON, Ind. — Toyota says it’s bringing 150 news jobs to Indiana with a new multi-million dollar investment.

$700-million will go to the plant in Princeton, Indiana, 40 minutes north of Evansville. The money is going to modernize the equipment in the facility. Workers will get new tools and equipment to help build 2020 Toyota Highlanders.

“You have built-in pride and quality. You can’t replicate that in many places. So when we find it, when we find it here in Indiana, the obvious decision is let’s invest more,” Chris Reynolds, chief administrative officer of manufacturing & corporate resources for Toyota said.

In addition to the plant investment, Toyota is committing $1-million to a regional workforce program. It will connect high school students with career opportunities in manufacturing. Currently, the Princeton facility employs over 67,000 Hoosiers.

The Indiana Economic Development Corporation offered Toyota $6 million in conditional tax credits based on its plans to create up to 550 total jobs in Princeton. These incentives are performance-based, meaning the company won’t be able to claim incentives until Hoosiers are hired.

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