Gov. Beshear: Toyotetsu Mid America To Expand Owensboro Operations With $41 Million Investment, Retaining Nearly 640 Jobs

Company has been located in Kentucky for over 20 years

FRANKFORT, Ky. (Sept. 14, 2026) - Today, Gov. Andy Beshear highlighted further momentum within the state's manufacturing industry as Toyotetsu Mid America (TTMA), an automotive parts supplier, announced plans to expand its Owensboro operations. The company's $41 million expansion will retain nearly 640 full-time Kentucky jobs.  

"The economic momentum we are seeing throughout Kentucky is the result of incredible growth among our largest and most critical industries, and manufacturing is at the center of that success," said Gov. Beshear. "We continually see quality companies like Toyotetsu Mid America expanding to meet growing customer demand, and that is a recipe for long-term economic success in our New Kentucky Home. I want to thank the company's leadership for their belief in the commonwealth and for supporting great jobs the people of Owensboro depend on."  

TTMA, which has operated in Owensboro for 25 years, will be upgrading its operational capacity and equipment to remain competitive in the automotive industry. The project will include investments in modern equipment and automation, as well as operation changes to increase production. The expansion is slated to be completed in 2028.  

"This project represents more than an investment in equipment and facilities; it is an investment in our people, our customers and the future of manufacturing in North America," said Austin Swope, assistant vice president at Toyotetsu Mid America. "By expanding TTMA's capabilities today, we are building the foundation for sustained growth, operational excellence and long-term competitiveness for years to come. Toyotetsu Mid America's legacy was built through hard work and continuous improvement. Our future will be defined by innovation, teamwork and the courage to invest in growth."

TTMA continues to demonstrate its commitment to strengthening the communities it serves through a variety of educational, charitable and community-focused initiatives. The company is a proud supporter of Oasis Shelter in Owensboro, providing both financial contributions and volunteer support for programs and events that assist individuals affected by domestic violence. TTMA also maintains a strong partnership with Habitat for Humanity, contributing resources and support to help expand access to safe and affordable housing in the region.

In support of workforce development and inclusion, TTMA collaborates with Owensboro Community & Technical College to offer English language education opportunities for employees. The program is designed to enhance communication, promote inclusivity and equip team members with skills that support both personal and professional growth.

Established in 2001, Toyotetsu Mid America is a leading Tier 1 supplier to Toyota, specializing in the production of high-quality automotive components that contribute to vehicle safety, performance and reliability. The Owensboro facility is the second Toyotetsu manufacturing operation established in North America and continues to play a key role in the company's regional growth and innovation.

Daviess County Judge/Executive Charlie Castlen praised the project: "Daviess County Fiscal Court is excited to learn of TTMA's plan to invest $41 million in their current facilities. Investments of this magnitude show a commitment to our community and show the confidence TTMA has in our people who work in that plant. Our community's future is brightened by this announcement."

Owensboro Mayor Tom Watson mentioned the company's continued presence in the community: "The city of Owensboro is excited about TTMA's $41 million investment in their plant in Owensboro. We are excited about the project and their continued investment and presence in the community."

Claude Bacon, president and CEO of the Greater Owensboro Economic Development Corp., spoke on the importance of expansion projects: "A $41 million reinvestment from a company that has called Owensboro home for over two decades tells you everything you need to know about this community. New investments get the headlines, but expansions like this one are the real proof. Toyotetsu didn't just choose us once, they're choosing us again. That's not a bet on Owensboro's potential. That's a return on it. Thank you TTMA for your reinvestment in our community!"

TTMA's investment and job creation furthers what has been the best six-year period for economic growth in state history. 

Since the beginning of his administration, Gov. Beshear has announced nearly 1,400 private-sector new-location and expansion projects totaling over $54 billion in announced investments, creating approximately 71,000 jobs. This is the highest investment figure secured during the tenure of any governor in the commonwealth's history and $33 billion more than the next highest total.

Gov. Beshear has announced some of the largest economic development projects in state history, which have solidified Kentucky as the battery capital of the United States: AESC's $2 billion, 2,000-job gigafactory project in Warren County; Ford Motor Co.'s $2 billion, 2,200-job commitment in Louisville, as well as its $2 billion, 2,100-job project at the Kentucky 1 plant in Hardin County; Shelbyville Battery Manufacturing's $712 million investment, creating 1,572 jobs in Shelby County; and Toyota's $1.3 billion investment in Scott County, among others.

The Governor announced Kentucky once again set an all-time record for products shipped globally, with $51.6 billion in exports in 2025, representing a 7.65% increase over 2024.

Unemployment rates fell in all 120 counties between December 2024 and December 2025.

The Governor's administration also secured the largest General Fund budget surplus and Rainy Day Fund. In 2023, Kentucky recorded over 2 million jobs filled for the first time ever and has stayed above that number ever since.

In addition, Kentucky has secured rating increases from major credit rating agencies Fitch Ratings, S&P Global Ratings and Moody's Investors Service.

Earlier this year, Site Selection magazine ranked Kentucky in the top five nationally and second in the South Central region for economic development projects per capita in its 2025 Governor's Cup rankings. In June, Area Development magazine awarded the commonwealth a Silver Shovel designation in its 2025 Shovel Awards, which highlight states for attracting high-value investment projects that will create a significant number of new jobs in their communities.

Gov. Beshear also announced a new initiative, called New Kentucky Home, to increase economic investment, attain and attract talent, and increase tourism across the state.

To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in August preliminarily approved an incentive agreement with the company under the Kentucky Reinvestment Act (KRA) program.

The program can provide tax credits to existing Kentucky companies engaged in manufacturing, agribusiness, non-retail service or technology activities, headquarters operations, hospital operations, coal severing and processing, alternative fuel, gasification, energy-efficient alternative fuels, renewable energy or carbon dioxide transmission pipelines on a permanent basis for a reasonable period of time that will be investing in eligible equipment and related costs.

By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments. 

In addition, TTMA can receive resources from Kentucky's workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives. 

For more information on TTMA, visit TTNA.com/TTMA.    

A detailed community profile for Daviess County can be viewed here.  

Information on Kentucky's economic development efforts and programs is available at NewKentuckyHome.ky.gov. Fans of the Cabinet for Economic Development can also join the discussion at facebook.com/CEDkygov, on Twitter @CEDkygov, Instagram @CEDkygov and LinkedIn.