NAM applauds new Toyota plant as "Proof that manufacturing in America is good for business"
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Manufacturing News, Source : The Manufacturer US
Published : 28 Feb 2007 13:57
WASHINGTON, D.C, February 28, 2007 – National Association of Manufacturers President John Engler today welcomed the announcement by Toyota North America that it is planning to construct a new $1.3 billion assembly plant in Tupelo, Mississippi. The new facility is expected to come on line in 2010. It will be the eighth Toyota assembly plant in the U.S.
“Foreign owned companies have invested more than $5 trillion in the U.S.,” Engler said. “This announcement reminds us once again that trade is a two-way street. By opening the door to Toyota to invest here, we have not only see this incredible expansion of their investment, but also seen similar investments – and job creation – by other global auto companies including Subaru, Honda, Nissan BMW, and Mercedes. All of these companies are creating huge opportunities for Americans right here.
“Toyota employs more than 41,000 Americans directly and supports an estimated 386,300 jobs in other sectors through its vigorous domestic outsourcing,” Engler said. “Toyota spends more than $28 billion annually buying components and services from U.S. businesses in 30 states. Critics of globalization routinely ignore this part of the picture – the thousands of global companies that set up shop here and create jobs and prosperity.
“With today’s announcement, Toyota’s investment in North America is nearly $19 billion,” Engler said. “I commend Toyota, congratulate them on this commitment and look forward to a burst of economic growth in the northern region of Mississippi.”
Engler also commended Mississippi Governor Haley Barbour for creating an economic climate receptive to investments like the new Toyota plant. “Haley knows what it takes to attract business investment,” Engler said. “He has tackled the tough issues, such as legal reform, and the result is 2,000 more jobs for the people of Mississippi. He deserves a lot of credit for winning the competition that led to today’s major announcement.”
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