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Area Development - Site Selection, Facility Planning and Workforce Development

TMMK Expands Georgetown, Kentucky, Operations

12/21/2024
Toyota Motor Manufacturing Kentucky (TMMK), Toyota's largest vehicle production plant, plans to expand its operations in Georgetown, Kentucky.

The $922 million project includes the construction of a new advanced paint facility at the company’s existing site. Production is scheduled to begin in 2027.

“Not only will our customers get the dynamic and stylish exterior finishes they love, but Toyota’s commitment to advanced paint technologies goes beyond aesthetics as a leader in environmentally responsible manufacturing,” said Kerry Creech, president of Toyota Kentucky. “This year alone more than $2 billion is being reinvested in our plant and further supports Toyota’s promise of long-term job security for our team members.”

To encourage investment and job retention in the community, the Kentucky Economic Development Finance Authority approved a supplemental project to an existing Kentucky Jobs Retention Act (KJRA) program agreement with the company. The performance-based agreement can provide up to $267.5 million in cumulative tax incentives based on the company’s total cumulative investment of $922 million across the original and supplemental KJRA projects with an annual job target requirement of up to 8,950 over the term of the agreement.

“Kentucky and Toyota have formed a winning partnership over the past 40 years that has been transformational for families throughout the commonwealth, and this latest investment builds on that tradition of success,” noted Governor Andy Beshear. “Thank you to the leaders at Toyota for once again investing in Kentucky and our incredible workforce.”

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates by claiming eligible incentives against its income tax liability and/or wage assessments. In addition, Toyota can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

“The new announcement of the continued investment and reinvestment in the Georgetown/Scott County Toyota facility is further evidence of the strong economy in our community and the commitment Toyota continues to make to our city, county, region and state,” added Jack Conner, executive director of Scott County United Inc.

TMMK’s current production capacity is approximately 550,000 vehicles and 600,000 engines annually.

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