Toyota Supplier To Build Plant in Kentucky
FRANKFORT, Ky. (AP) _ Toyoda Iron Works Co., a Japanese company that supplies metal parts to Toyota Motor Corp., will build a plant in Kentucky, Gov. Brereton Jones’ office announced Tuesday.
The new facility in Somerset is expected to cost between $60 million and $65 million, a statement from the governor’s office said. Construction will begin immediately, and production is slated to begin next fall.
Toyota has two plants in North America, one in Georgetown, Ky., and another in Cambridge, Ontario, as well as a joint venture in California with General Motors Corp.
Toyoda Iron Works plans to hire 50 people during the next year for the new facility, and expand to 150 workers within five years, the statement said. It will receive state and local tax credits for the plant.