by J.D. Davidson
Peloton Interactive announced plans to build its first U.S. factory in Ohio, creating more than 2,000 jobs and investing more than $400 million in the state-of-the-art factory.
The new facility, in Troy Township between Toledo and Bowling Green, will be named Peloton Output Park and will produce Peloton Bike, Bike+ and Peloton Tread starting in 2023. It will employee 2,174 people and generate $138 million in new payroll.
The state approved a 2.301%, 15-year job creation tax credit for the company.
“I am very happy to announce that with a very competitive selection process, the ever-popular Peloton has decided to begin their professional journey in the United States right here in our very own Troy Township,” said state Rep. Haraz Ghanbari, R-Perrysburg, said. “This is very exciting news and shows economic promise for Wood County as this will bring further development and jobs to Northwest Ohio.”
The project was one of nine economic development projects announced by Gov. Mike DeWine that are expected to collectively add 4,520 jobs statewide.
Bath & Body Works plans an expansion in Commercial Point that should add 500 full-time jobs and generate $18.3 million in new payroll. The state approved a 1.421%, eight-year job creation tax credit for the company.
Magnode LCC plans an expansion in Trenton in southwest Ohio that will create 171 new full-time jobs, create $10.6 million in new annual payroll and retain $16 million in existing payroll. The company, which is an aluminum extrusion manufacturer, received a 1.811%, nine-year job tax credit.
Also in northwest Ohio, Matsu Ohio Inc. will expand to add 104 full-time jobs and $3.6 million in new payroll thanks to help from the state’s 1.124%, seven-year job creation tax credit. The company is a stamping plant that provides body parts and welding and assembly capabilities.
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An Ohio native, J.D. Davidson is a veteran journalist with more than 30 years of experience in newspapers in Ohio, Georgia, Alabama and Texas. He has served as a reporter, editor, managing editor and publisher. He is regional editor for The Center Square.