(FOXBUSINESS) — Toyota announced it will invest $1.33 billion in its largest plant in the world located in Georgetown, Kentucky where Toyota manufactures the Camry. In an interview with FOX Business, Toyota Motor Manufacturing President Wil James and Kentucky Gov. Matt Bevin said the investment is part of a long-term strategy in Kentucky.
“This investment is just a continuation to the commitment that Akio Toyoda made for $10 billion investment over the next five years,” James told the FOX Business Network’s Maria Bartiromo.
Besides the direct impact Toyota’s presence has on the state, Bevin says the automaker has attracted other companies to the state as well.