Study tracks financial impact of Toyota in Kentucky

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GEORGETOWN, Ky. (WTVQ) – A recent study by the Center for Automotive Research (CAR) shows Toyota Motor Manufacturing, Kentucky, Inc. (TMMK) is making a major impact on the Bluegrass State through strong jobs numbers, payroll, and capital and philanthropic investments.

CAR, a national think tank, found in 2015 that every Toyota manufacturing, sales, logistics or support operations job in Kentucky created nearly three more across the Commonwealth.  The study found:

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  • Direct employees (manufacturing-related and new vehicle jobs) earned $1.8 billion in payroll
  • After taxes, their disposable personal income totaled $1.4 billion, meaning that money was available to be spent in the Kentucky economy
  • When those direct employees are combined with jobs at companies that supply TMMK, as well as spinoff jobs, Toyota is estimated to support 29,700 jobs in Kentucky

“Toyota continues to invest in facilities across the U.S., which, in turn, has resulted in job growth,” said Dr. Jay S. Baron, president and CEO of CAR. “This study not only looks at the U.S. as a whole, but, also, digs deep into the economies of the 19 states in which Toyota had significant manufacturing or other operations in 2015 – including in Kentucky. For every one employee in Toyota’s U.S. manufacturing-related operations there are an additional 6.1 jobs in the U.S. economy.”

Also, a new community report shows TMMK has 8,000 employees in Georgetown and produced 501,746 new Toyota Camry, Camry Hybrid, Avalon, Avalon Hybrid and Lexus ES350 vehicles in 2016, plus 4- and 6-cylinder engines. Those team members live in 80 Kentucky counties.

“This is an impressive scorecard that reinforces how valued a partner Toyota has been to Kentucky for more than 30 years,” said Secretary Terry Gill, Ky. Cabinet for Economic Development. “Continued investment and expansion, such as the addition of Lexus and the new production engineering building in Georgetown, make a powerful impact on our people and our communities. We are proud to have Toyota in the Bluegrass State.”

Additionally, a 250,000 sq. ft. production engineering campus is expected to be completed in 2017. The building will include a state-of-the-art test lab and innovative work space for about 700 employees.

The full report from CAR may be downloaded here.