Beginning in 2015, Toyota will build the Lexus ES 350 at its Georgetown, Kentucky plant, boosting production to 550,000 vehicles a year and creating 750 jobs in Kentucky. The company will also invest $531M over several years to upgrade its Georgetown facility.
Reports the
Associated Press:
"It is fitting that the first country to build the ES outside of Japan is the United States," Toyota Motor Corp. President Akio Toyoda, the company's top executive, said in New York. "This is the home for Lexus. It was where the brand was founded and it is still the biggest market for the luxury brand."
The Kentucky Economic Development Finance Authority (KEDFA) approved $146.5 million in state tax incentives to help with the cost of the expansion.
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