Economic Development
Toyota is investing $1.3 billion in its Georgetown, Kentucky, factory complex to build a new three-row electric SUV for the U.S. market and to enhance its future electric vehicle production capabilities. The investment will include the addition of a line to assemble battery cells into packs for other electric vehicles. Despite the investment, there won’t be any new jobs added to the complex, which currently employs around 9,400 workers. This brings Toyota’s total investment in the plant to nearly $10 billion. The details of the new SUV, such as price and showroom arrival, have not been disclosed. Additionally, Toyota previously announced an $8 billion investment in a hybrid and electric vehicle battery factory in North Carolina, which is expected to employ over 5,000 people when it begins operations in 2025.
Blue Run Spirits is set to open a new distillery and headquarters in Georgetown, the facility will feature a 35,000-square-foot distillery, a 20,000-square-foot rickhouse, and an amphitheater. The design aims to symbolize the journey of water from the Royal Spring through the distillation process to becoming Blue Run bourbons and rye whiskeys. The project is expected to create over 40 jobs and boost tourism in Kentucky. Groundbreaking is scheduled for 2023, with an anticipated opening in 2025.
