WOOD COUNTY, Ohio — Peloton Interactive Inc., one of the most recognizable names in home fitness equipment, plans to build its first U.S. factory in Troy Township.
Peloton made the announcement Monday. The company plans to break ground on the facility, known as Peloton Output Park, this summer and start production in 2023.
The $400 million investment will create more than 2,100 jobs and generate $138 million in annual payroll.
The Regional Growth Partnership on Monday confirmed the site to be the Eastwood Commerce Center, near U.S. Route 20 near the I-280 interchange. The facility will sit on more than 200 acres. The 1 million square-foot plant will consist of manufacturing, office and amenities space.
Lt. Gov. Jon Husted discussed the announcement during Monday's coronavirus news conference.
"I do know they are high paying jobs," he said. "Ohio is a great manufacturing state and we proved once again we can be home to a state-of-the-art facility. It's especially good news because the states we were competing with 10 years ago, we would have lost."
According to Gov. Mike DeWine's office, the Ohio Tax Credit Authority approved a 15-year, 2.301 percent job creation tax credit for the project.
"We are thrilled to bring a good portion of our manufacturing to United States soil and proud that it will be in the great state of Ohio,” said Peloton’s CEO and co-founder John Foley. “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. We are incredibly excited to meet and welcome the Troy Township community into the Peloton family fold."
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