Indiana is the only U.S. state to have auto assembly plants from Honda, Subaru and Toyota.
Governor Eric Holcomb praised Toyota for “planting its flag” in Indiana and continuing to grow.
The target completion date for the project is September 2016.
The unveiling marks Toyota Industrial Equipment Manufacturing's 12th expansion since it begun operations in 1990.
Two recently published studies suggest Indiana’s economy may remain strong despite sequestration.
Toyota announced Wednesday it would invest $400 million in Indiana.
Greensburg Honda Plant officials are adjusting production levels in an effort to preserve parts.