Our economy is charging up to full power! The Greensboro-Randolph area can look forward to a substantial financial boost. Who do we have to thank for that? The upcoming Toyota battery plant near Greensboro, NC in Liberty. Wondering how it will impact us all? We’ll fill you in!
More about the plant
First off—congratulations, North Carolina! Nine states besides our own vied to be the location of the new Toyota plant, but we managed to win the honor. It helps that our state legislature voted “yes” on a few big draws, like land. The incentives potentially total an impressive $430 million—or even more.
Toyota, too, will bring a substantial sum to the table! In fact, by the end of 2026, the company aims to put $1.272 billion into the Toyota battery plant near Greensboro.
There may also be a possible second act! If Toyota agrees, they could expand this venture, meaning more jobs and more money brought into our economy. Of course, we still have some time to wait until that happens. As of yet, no completion date has been mentioned.
What kind of batteries will it produce?
The new battery plant will help the country go green! It will create electric batteries for Toyota vehicles. Specifically, the batteries will go into hybrid-electric models.
Where will the plant be located?
The new Toyota battery plant will be located in Liberty, NC. That’s a little less than half an hour away from Greensboro. So, many folks in Greensboro may eventually take advantage of the short commute and new opportunities!
Exploring the economic benefits
The next eight years are going to be big ones for our local economy. These new careers, construction costs, and materials purchases will all put money into the pockets of people in the area.
Specifically, Toyota aims to add 1,750 jobs by the time we turn the page through to 2029. If they proceed to phase two, that number could rise past 3,800.
Additionally, Toyota is investing big in green energy in general. In conjunction with the $1.272 billion from this local plant, they also aim to allocate $3.4 billion to ventures within in the United States.
Summary
Good news is in store for our town, as well as the others nearby! And, it’s eco-friendly too—so our city is really living up to the “green” in its name. We can’t wait to see all the new jobs, developments, and progress the Toyota battery plant near Greensboro will bring.
We also have good news for those looking for a comfortable, affordable new apartment: Beechwood would love to welcome you. View our floor plans, photos, and application info here. You can also read more about local news, spotlights, and events via our blog.