Commonwealth of Kentucky
Cabinet for Economic Development

Governor Beshear Announces Jobs Expansion at Toyota Boshoku America
Company to add 170 additional jobs at Erlanger head office by 2009

Frankfort, Ky. -- Kentucky Gov. Steve Beshear and Economic Development Cabinet Secretary John Hindman were joined by company and community officials in Erlanger today to announce the expansion of Toyota Boshoku America’s home office. The premier manufacturer of automotive interior systems will add 170 new jobs by 2009.

"Toyota Boshoku America is a great example of our ongoing efforts to work with existing businesses to create new high paying professional jobs in Kentucky," said Gov. Beshear. "We are extremely pleased with this announcement, and look forward to continuing our successful relationship."

The new jobs will be in addition to the current 100 team members at the office. Total annual payroll after the hiring of all team members is expected to reach nearly $20 million. Toyota Boshoku America has received preliminary approval for tax benefits up to $1.7 million from the commonwealth for this latest project.

"Toyota Boshoku America is the perfect example of the world-class operations we seek in Kentucky," said Secretary Hindman. "We are delighted with the expansion of their home office in Erlanger, creating professional job opportunities for 170 people. We are very optimistic about the future of Toyota Boshoku America in Kentucky and plan to meet with officials from the company in Japan while on an economic development trip to Asia in June."

Expansion construction is underway and is scheduled for completion by June 1. The Toyota Boshoku America head office currently occupies 23,000 square feet in the CirclePort Business Park in Erlanger. The expansion will reach 48,000 square feet, a 109 percent increase in space in less than eight months

"Toyota Boshoku America is proud to expand our presence in Northern Kentucky," said Kiyoshi "Nate" Furuta, chairman & CEO of Toyota Boshoku America. "Toyota Boshoku America is a growing company and this region offers the resources, talent and infrastructure to support our future efforts. We look forward to increasing our activities in Northern Kentucky."

"This announcement is another step toward achieving Vision 2015’s goal of creating 50,000 new jobs in our region," said Steve Pendery, Northern Kentucky Tri-County Economic Development Corporation (Northern Kentucky Tri-ED) Chairman and Campbell County Judge-Executive. "Toyota Boshoku America is an integral part of that future, and we congratulate the company on its expansion plans."

The Toyoda (now Toyota) Boshoku Corporation was founded by Sakichi Toyoda in 1918. The Toyota Motor Corporation was initially founded as an automotive department of Toyota Industries in 1933. Toyota Motor was made an independent company in 1937 by Kiichiro Toyoda. In 2004, Toyota Boshoku, Araco Corporation and Takanichi Co. Ltd. were merged to become Toyota Boshoku Corporation

A community profile for Northern Kentucky can be found at the following link: http://www.thinkkentucky.com/edis/cmnty/index.aspx?cw=049.

The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2007 totaled nearly $2 billion with the creation of over 13,400 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at www.ThinkKentucky.com.