Business and the Economy
Toyota Plans Georgetown Expansion
Toyota is planning an ambitious new project for its flagship Georgetown plant that might see it producing a new vehicle and adding 750 jobs. The news came Wednesday when the Kentucky Economic Development Finance Authority gave preliminary approval to $146.5 million in tax incentives for the project, which is shrouded in mystery. Katie Smith of the state's Cabinet for Economic Development told the KEDFA board that the project is a vehicle model that is new to the plant, which would produce 50,000 of them annually beginning in fall 2015. She declined to name the vehicle model.