Toyota set for economic development announcement

Automakers, including Toyota, plan to return to work in Indiana the week of May 11. (photo courtesy of Toyota)

PRINCETON, Ind. (Inside INdiana Business) — Executives from Toyota Motor Manufacturing Indiana Inc. in Princeton are set to make an economic development announcement Friday. Governor Eric Holcomb will be on hand for the event, which will also include the unveiling of the 2020 Toyota Highlander.

No other details about the announcement were released. 

The news comes on the heels of the governor’s State of the State address, where he announced Fiat Chrysler Automobiles’ plans to invest $400 million in one of its facilities in Kokomo. The effort is expected to create an unspecified number of jobs.

Holcomb teased the Toyota announcement during the address. 

The TMMI plant manufactures the Toyota Sienna, Sequoia, Highlander and Highlander Hybrid models. The automaker employs some 5,400 workers at the facility.