Toyota Throwback
In light of Toyota’s big announcement this week – KBT would like to share a little Toyota Throwback from our very own archives.
Solving Road Fund Problem Enhances Toyota Opportunity | Winter 1986
Toyota’s decision to locate it’s $800 million automobile assembly plant in Kentucky points up the critical role transportation plays in attracting new industry. The new facility also emphasizes just how important to have more adequate funding for highways.
Ask any manufacturer for a list of a list of factors influencing site sections, and transportation will be among the top items on the list. Areas that do not have adequate transportation facilities are not even considered.
Toyota officials emphasized the key role Kentucky’s transportation system and proximity to market had in shaping their decision.
The Toyota site in Scott County is served by Norfolk Southern and is on I-75 a few miles from where it intersects I-64. Some $47 million in highway improvements in the vicinity of the plant will be required, and since there are no state construction funds to do this work, the Governor has recommended bonding to cover the cost.
The possibility of using federal funds to help defray the state share simply means that federal dollars would not be available for the federal-aid projects that have previously been programmed.
WMKY | March 15, 2019
Kentucky’s automotive industry includes 520-plus facilities, employing more than 100,000 people full-time. The Georgetown plant has been a major factor in Kentucky attracting nearly 200 Japanese-owned manufacturing, service and technology-related facilities, located throughout the state. Those Japanese-owned facilities employ nearly 47,000 people full-time. “There is no question of the positive impact Toyota has had on Kentucky over the past three decades. From the growth of the commonwealth’s automotive sector to the company’s efforts to give back to the local community, we in Kentucky could not ask for a stronger relationship than the one we share with Toyota Motor Manufacturing Kentucky,” said Terry Gill, secretary of the Kentucky Cabinet for Economic Development. “The automotive industry is constantly evolving, and we are seeing a company with the foresight to stay a step ahead of that evolution. This investment serves as a reminder of Toyota’s importance to the state’s economy and we look forward to a continued partnership for years to come.” WMKY
Part Two Coming Soon