Trump Effect Strikes Again: Toyota Ready To Invest Yuge Money In American Workforce
U.S. President Donald Trump rode into Washington D.C. on a horse made of business skills and big plans for America’s workforce. So far, he is delivering on those promises.
There have already been a number of massive corporations who have taken Trump’s ascension to the highest office in the land as a surefire way to get the American economy rolling again. Chrysler, Ford, and IBM are just a few of the successful businesses who will be investing in the American workers and American free market, as they have predicted a strong and vibrant economy under the reign of Trump.
Now, another automaker is planning to put down big bucks in their pursuit of the American dream, and this one is a doozy.
Toyota said Monday it is investing $1.33 billion to retool its sprawling factory in Georgetown, Kentucky, where the company’s flagship Camry sedans are built.
No new factory jobs are being added, but Toyota says the upgrades amount to the biggest single investment ever at one of its existing plants in the United States. The retooling also will sustain the existing 8,200 jobs at Toyota’s largest plant, where about one-fourth of all Toyota vehicles produced in North America are made, the automaker said.
‘This major overhaul will enable the plant to stay flexible and competitive, further cementing our presence in Kentucky,’ said Wil James, president of the plant, which also assembles the Avalon and the Lexus ES 350.
The updates at the Kentucky plant are part of Toyota’s plans to invest $10 billion in the United States over the next five years, said CEO Jim Lentz of Toyota Motor North America, in a news release.
President Donald Trump, in a paragraph added to Toyota’s news release at the White House’s request on Sunday night, praised the investment and said it is ‘further evidence that manufacturers are now confident that the economic climate has greatly improved under my administration.’ The paragraph cited the National Association of Manufacturers’ first-quarter outlook survey. It found that 93.3 percent of manufacturers are somewhat or very positive about their company’s outlook, a record high that’s up from 77.8 percent in December.
While President Trump has certainly faced his share of hurdles during his fledgling presidency, from congressional anarchy to liberal agitators taking to the streets in mass violence, one thing has remained steadfast: His business acumen’s ability to instill confidence in some of the world’s most successful companies.