FRANKFORT, Ky. — Trade & Industry Development magazine has named Toyota Motor Manufacturing, Kentucky (TMMK) among its 2024 Corporate Investment & Community Impact (CiCi) Award winners for its commitment to invest another $1.3 billion into the operation in Georgetown to build the automaker’s first battery electric vehicle.
This is the 18th year the publication has honored projects from all over the United States that bring extensive capital investment, influential community impact — or both – to help shape the communities in which they are located and in which they continue to develop and grow. Trade & Industry Development’s CiCi Awards honored 31 projects this year, 16 in the “Corporate Investment” category and 15 in the “Community Impact” category. All the winners are projects that were announced in 2023.
In May 2023, Toyota announced plans to invest $591 million in future projects and increase job retention within the state by 700 full-time employees to establish the company’s first U.S.-assembled battery electric vehicle (BEV) in Scott County. Then in February 2024, the company said it will increase investment to $1.3 billion.
“We are excited about the future of manufacturing in the commonwealth as our team prepares to launch Toyota’s first battery electric vehicle assembled in North America, supporting our commitment of providing secure and long-term employment,” said Kerry Creech, president of Toyota Kentucky.
Largest Toyota manufacturing facility
TMMK is Toyota’s largest production facility globally and currently employs approximately 9,400 team members. Opened in 1988, more than 12 million vehicles have rolled off TMMK’s assembly lines, including the Camry, America’s best-selling sedan. Current production capacity is approximately 550,000 vehicles and 600,000 engines annually, with more than 350 suppliers nationwide – including over 100 in Kentucky.
“This award is a huge honor, and it’s exciting to see Toyota continuing to work with Scott County and the Georgetown community to secure that lasting prosperity,” Gov. Andy Beshear said. I want to congratulate TMMK on its 2024 CiCi Award, and I am proud to support the company’s continued growth here in the commonwealth. Kentucky is on an economic development roll, and the success we’re seeing is thanks to the businesses that continue to invest in the commonwealth and our amazing workforce”
Jack Conner, executive director of Scott County United Inc., noted the scale of the project: “There is nothing more exciting than to know that Toyota Motor Manufacturing, Kentucky continues to bring new products and technology to our community – the home of the largest Toyota plant in the world.”
Kentucky’s recognition in the 2024 CiCi Awards builds on the best four-year period for economic growth in state history.
Since the beginning of his administration, Gov. Beshear has announced more than 1,000 private-sector new-location and expansion projects totaling over $30.6 billion in announced investments, creating more than 52,500 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth’s history.
In March, Site Selection magazine ranked Kentucky third nationally and first in the South Central economic development projects per capita in its 2023 Governor’s Cup rankings. Previously, Site Selection placed Kentucky first in the South Central region and top 5 nationally in its 2023 Prosperity Cup ranking, which recognizes state-level economic development agencies for their success in landing capital investment projects.
The full list of CiCi Award winners is available here.
