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Area Development - Site Selection, Facility Planning and Workforce Development

Toyota Expand Princeton, Indiana, Assembly Operations

04/30/2024
Toyota plans to upgrade and expand its assembly operations in Princeton, Indiana. The $1.4 billion project is expected to create 340 jobs by the end of 2025.

This investment will include plant infrastructure to build the new BEV and a new battery pack assembly line using lithium-ion batteries supplied by Toyota Battery Manufacturing North Carolina. The Indiana facility currently assembles the Toyota Sienna, Highlander, Grand Highlander and the Lexus TX.

"Our team members are the heart of Toyota," said Tim Hollander, president of Toyota Indiana. "We take great pride in producing quality products while providing long-term, stable employment no matter the changes in our industry. Our team is committed to delivering this new product with the same quality and performance that Toyota customers expect."

The Indiana Economic Development Corporation (IEDC) committed an investment in Toyota of up to $5 million in incentive-based tax credits and up to $1 million in conditional structured performance payments based on the company’s plans to invest $632 million. These incentives are performance-based, meaning the company is eligible to claim state benefits once investments are made.

"Indiana and Toyota share a nearly 30-year partnership that has cultivated job stability and economic opportunity in Princeton and the surrounding southwest Indiana region for decades," noted Governor Eric J. Holcomb. "Toyota's investment in the state began with an $800 million commitment and has grown to over $8 billion. Today's incredible announcement shows yet again just how important our state's business friendly environment, focus on long-term success and access to a skilled workforce is to companies seeking to expand and be profitable far into the future. Indiana proudly looks forward to continuing to being at the center of the future of mobility."

Since 2021, Toyota has announced new investments totaling $18.6 billion into its U.S. manufacturing operations to support electrification efforts.

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