Toyotetsu Mid America (TTMA) plans to invest $41 million to expand its automotive component manufacturing operations in Owensboro, Kentucky. The company, which supplies components that contribute to vehicle safety, performance and reliability to Toyota, will retain nearly 640 full-time jobs through the project.

The expansion will upgrade TTMA’s operational capacity and equipment and include investments in modern equipment and automation. The company also plans to make operational changes to increase production and remain competitive in the automotive industry.

The project is slated to be completed in 2028. 

The Kentucky Economic Development Finance Authority preliminarily approved an incentive agreement with TTMA under the Kentucky Reinvestment Act program. By meeting annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates and may claim eligible incentives against its income tax liability and/or wage assessments. 

Under the arrangement, TTMA can also receive resources from Kentucky workforce service providers, including no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.

Expansion supports long-term competitiveness, executive says 

“This project represents more than an investment in equipment and facilities; it is an investment in our people, our customers and the future of manufacturing in North America,” said Austin Swope, assistant vice president at Toyotetsu Mid America, in a September press release. “By expanding TTMA’s capabilities today, we are building the foundation for sustained growth, operational excellence and long-term competitiveness for years to come.”

“The economic momentum we are seeing throughout Kentucky is the result of incredible growth among our largest and most critical industries, and manufacturing is at the center of that success,” said Gov. Andy Beshear. “We continually see quality companies like Toyotetsu Mid America expanding to meet growing customer demand, and that is a recipe for long-term economic success in our New Kentucky Home.”

Manufacturers investing in Kentucky

Ford plans to open $1B paint facility in Kentucky

The investment will replace the existing paint shop at Ford’s Kentucky Truck Plant and modernize the manufacturing operation.

ISCO Industries has opened HDPE piping manufacturing facility in Kentucky

The new facility on Transport Court doubles the company’s current space in Louisville.

GE Appliances plans to modernize laundry products manufacturing facility in Kentucky

Appliance Park will be America’s largest home appliance manufacturing site, the company said.

James Composites to spend $5.8 million on new Kentucky factory

The fiberglass barge cover firm estimates it will hire 25 new employees.

Foxconn to spend $173 million on new Kentucky Plant

 Hon Hai Technology Group, as it’s known in Taiwan, said the Louisville plant would create 180 new jobs.