Peloton to spend $400 million to build first US factory in Ohio
Peloton announced plans Monday to build its first U.S. factory in Ohio.
The exercise equipment company issued a statement saying the $400 million facility in Wood County will open in 2023.
Peloton Output Park. Coming 2023. pic.twitter.com/7n0XW8e6xB
— Peloton (@onepeloton) May 24, 2021
Peloton said it expects to break ground this summer on the facility, which will sit on some 200 acres, create more than 2,000 jobs and produce the Peloton Bike, Bike+ and Peloton Tread.
“While we will continue to invest in our Asian manufacturing footprint as well as our existing facilities in the U.S. via our Precor sites, the new Peloton Output Park gives us a massive strategic lever to make sure we have capacity, quality, and economies of scale in our bike and tread product lines, to support our continued growth for years and years to come,” Peloton CEO John Foley said in the statement. “We are incredibly excited to meet and welcome the Troy Township community into the Peloton family fold.”
Ohio Gov. Mike Dewine (R) said, “The pandemic has demonstrated the need to on-shore manufacturing and rebuild supply chains, and Peloton’s decision to build its first North American manufacturing facility in Ohio is a great example of an American company stepping up and leading that effort.”
Ohio is excited to partner with Peloton’s forward-looking leadership team in developing a new, state-of-the-art facility using connective technology and creating 2,174 new manufacturing jobs in Wood County! https://t.co/d7rmEE1bOi https://t.co/bo5lG8bQ6K
— Governor Mike DeWine (@GovMikeDeWine) May 24, 2021
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