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Toyota Mulls Expansion in Kentucky
The state of Kentucky is offering $147 million in tax credits to Toyota Motor Co. if the company will expand its assembly plant in Georgetown.
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The state of Kentucky is offering $147 million in tax credits to Toyota Motor Co. if the company will expand its assembly plant in Georgetown.
Kentucky says Toyota is considering increasing annual capacity in at the facility by 50,000 units to a total of 550,000 vehicles, starting in autumn 2015. The increase in intended to enable production of an additional unspecified model, according to the state.
The company says it has been considering an increase in its U.S. output but has not yet made any decisions. The Kentucky factory builds the Venza midsize crossover, Avalon fullsize car and gasoline-powered and hybrid versions of the Camry midsize sedan.
Any expansion would likely be used in part to boost Toyota's exports from North America. This year the Georgetown plant will ship vehicles to Russia, South Korea and Ukraine. It plans to eventually to add to China.
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