HOPKINSVILLE, Ky. (Oct. 4, 2023) – Today, Gov. Andy Beshear joined local officials and leadership at Toyota Boshoku America Inc. (TBA) to celebrate the recent announcement of the company’s new $225 million investment in Hopkinsville that will create 157 quality jobs for Kentuckians.
“I want to thank the leadership at Toyota Boshoku for this commitment to the commonwealth as we continue to see significant investment in Kentucky’s automotive future,” said Gov. Beshear. “I am thrilled to see this company build on its already impressive presence in our state. This project is another big win for Hopkinsville and the Western Kentucky region and means even more great jobs for our people.”
The new facility will include a 327,000-square-foot building pad on nearly 50 acres in Christian County. The plant will be TBA’s first “smart plant,” implementing technologies to create a more efficient and environmentally responsible operation. The facility will produce seat frame mechanism parts such as seat tracks, seat recliners and motors with gear. Construction began in June 2023 with operation planned for 2025.
“We aim to not only create new jobs and invest in a smart manufacturing facility but also to promote a more efficient and environmentally responsible operation,” said Toyota Boshoku Corp. President Masayoshi Shirayanagi.
Toyota Boshoku Corp., one of the world’s premium interior systems suppliers and filter manufacturers, develops and produces interior, filtration and powertrain components. With its global headquarters in Kariya City, Japan, Toyota Boshoku is the parent company of TBA, which is based in Erlanger, Kentucky. TBA and its affiliates employ over 13,000 team members in 22 locations throughout the United States, Canada, Mexico, Brazil and Argentina. The company is a premier manufacturer of automotive interior systems, which includes seats, door trim, headliner, substrate and carpet in addition to air and oil filters for a variety of customers such as Toyota, BMW and Subaru. In Kentucky, the company currently operates three full production plants, located in Bardstown, Harrodsburg and Lebanon. With the completion of this plant, TBA will employ over 1,100 Kentuckians across five locations throughout the commonwealth.
Christian County Judge/Executive Jerry Gilliam spoke on the positive relationship between TBA and the community: “Christian County government is always honored to work with world-class companies like Toyota Boshoku America. We have been impressed with company leadership since our initial introductions. TBA is the region’s 12th Japanese investment. We are looking forward to supporting their success and ensuring it won’t be the last.”
Hopkinsville Mayor JR Knight mentioned the job creation: “With this investment, Toyota Boshoku will be creating outstanding jobs which we celebrate as an opportunity to change the life of an individual and their family.”
John Bradley, TVA senior vice president of Economic Development, congratulated the company on the announcement: “Congratulations to Toyota Boshoku America Inc. on its new facility in Hopkinsville. TVA is proud to partner with Pennyrile RECC, the Kentucky Cabinet for Economic Development, the City of Hopkinsville and Christian County to support companies, like Toyota Boshoku America, that are driving innovation in the region. We celebrate this occasion together and look forward to the company’s impactful success in the Commonwealth.”
TBA’s investment and planned job creation builds on recent economic momentum in the commonwealth.
The Governor announced in August that his administration secured the largest General Fund budget surplus and Rainy Day Fund in state history. Last month, Gov. Beshear reported that General Fund receipts for August 2023 totaled over $1 billion, marking the 12th straight month with revenues over $1 billion.
The General Fund budget surplus at the end of fiscal year 2023 was more than $1.55 billion. Nearly all of the $1.55 billion surplus will go into the commonwealth’s Rainy Day Fund, bringing the fund to a record balance of $3.7 billion – a 2,700% increase since Gov. Beshear took office in 2019.
This year, the Governor announced that Kentucky set the record for the longest period with the lowest unemployment rates in state history.
Since the beginning of his administration, Gov. Beshear has announced nearly 900 private-sector new-location and expansion projects totaling over $27.5 billion in announced investments, creating 48,000 jobs. This is the highest investment figure for any governor in state history.
The robust job creation has been accompanied by rising wages across the commonwealth. The average incentivized hourly wage in 2022 was $26.78 before benefits, the second-highest mark since 2010 and an 11.5% increase over the previous year.
The Governor also secured the best two-year period in state history for economic growth and announced the two largest economic development projects in state history. In September 2021, Gov. Beshear and leaders from Ford Motor Co. and SK On celebrated a transformative $5.8 billion investment that will create 5,000 jobs in Hardin County. In April 2022, the Governor was joined by leadership at AESC to announce a $2 billion investment that will create 2,000 jobs in Warren County. These announcements solidify Kentucky as the EV battery production capital of the United States.
That position was strengthened even further in May 2023, when the Governor and leaders at Toyota announced a $591 million investment across multiple projects as the company’s largest manufacturing operation in Georgetown introduced its first battery electric vehicle. Growth within the EV sector continued into June as Gov. Beshear joined INFAC North America to break ground on the company’s $53 million investment to support EV-related production in Campbellsville.
Over a two-month period this year, Kentucky secured two credit rating increases from major agencies. On May 12, Gov. Beshear announced that his administration obtained the first state-level credit rating upgrade in 13 years and the first-ever upgrade from Fitch Ratings. On June 29, Gov. Beshear announced the commonwealth received its first-ever rating increase from S&P Global Ratings. In September, Moody’s Investors Service upgraded Kentucky’s credit outlook from stable to positive.
Site Selection magazine recently 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 publication also placed Kentucky second nationwide and first in the South Central region for its annual Governor’s Cup ranking for 2022, which recognizes state-level economic success based on capital investments.
Gov. Beshear announced a new “Supply Kentucky” initiative with the goal of boosting job growth, reducing costs and providing more security in the supply chains of our Kentucky companies.
For more information on TBA, visit toyota-boshoku.com/us.
A detailed community profile for Christian County can be viewed here.
Information on Kentucky’s economic development efforts and programs is available at CED.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.