Toyota Indiana announces $803 million investment bringing all-new electric SUVs and jobs

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GIBSON CO., Ind (WEHT) Indiana Governor Eric Holcomb was on hand as Toyota Indiana announced a major investment at the Princeton plant that will bring new jobs and new electric vehicles to the Tristate.

1,400 jobs are coming to Toyota Indiana as the company invests more than $800 million to expand production of new electric SUVs.

Toyota Indiana already builds the Highlander and Sienna, but will be adding two new electric vehicles to their portfolio. One of the SUVs will be Toyota brand, but the other is the first ever Lexus line SUV to be made in the Tri-State. The company hopes new electric SUV’s brings them closer to being carbon neutral by 2050. The vehicles also feature new technology including an app replacing car keys. The app will also be able to park and un-park the SUV’s.

“And you can even share your key with another person. So there’s extremely advanced technologies that will be coming with these two new three row SUV’s,” said Toyota Indiana President Leah Curry. With this advancement comes new opportunity. Toyota Indiana is looking to hire 1,400 new workers before production starts sometime in 2023.

“To think about the ripple effect. The positive ripple effect that those 1,400 jobs are going to have on families, on schools, on the Y. It’s endless and that’s why it gives me shivers down my spine and goosebumps to Leah,” Indiana Governor Eric Holcomb said there are now thousands of jobs available for Hoosiers looking for a new opportunity. “So far this year we are at about 12,000. 1,400 of those are right here where we stand.”

Princeton Mayor Greg Wright said bringing in this many jobs is exciting and could bring on some growing pains for the city.

“The city just has not been ready for those things and that’s why we are working our tails off to try to get ready to develop things like housing and quality of life things,” Mayor Wright said the city has two big water and sewer projects in the works to support their growing community in addition to quality of life projects city officials are already working on. This includes the new YMCA being built in town. “It’s a good cycle and it starts right here at this plant.”

The Indiana Economic Development Corporation is offering Toyota more than $8 million in tax credits and training grants.

Today’s news marks TMMI’s third major expansion in the last four years, following investment announcements in 2020 and 2017 to invest a combined $1.3 billion in its Princeton operations and create 550 new jobs.

Toyota currently employs more than 7,000 Hoosiers in southwest Indiana and has already begun filling production jobs.

Congressman Larry Bucshon (R-Indiana) released the following statement Wednesday:

For almost 25 years, Toyota has been a significant driver of economic and job growth here in Southwest Indiana.  I’m thrilled that Toyota has chosen to further expand its investment and presence here in Indiana, bringing with it more jobs and economic growth to our region.  I want to congratulate TMMI President Leah Curry and the rest of the team at TMMI for being chosen for this additional investment, as it is a testament to the strength, dedication, and skill of Toyota’s existing workforce at the plant.”

Congressman Larry Bucshon

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