Peloton will invest $400 million to build its first U.S. factory in Troy Township, Ohio.
Peloton has announced it will invest $400 million to build its first factory in the United States with a view to speeding up production and delivery of its popular cycles and high-end treadmill machines.
After vetting a number of locations, the company said it selected a 200-acre site in Troy Township in Wood County, Ohio, to construct more than 1 million square feet of manufacturing, office and amenities space.
Peloton expects to break ground later this summer on the project, which should bring more than 2,000 jobs to the area. The facility should be up and running by 2023.
“We had planned to do this for years, but I think the pandemic put an exclamation point on why it’s going to be awesome,” Peloton CEO and co-founder John Foley said. “Having more flexibility in running a global supply chain is also going to allow us to sleep better, as you can imagine.”