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Economist Says Toyota Expansion Is A Good Sign For Indiana

Toyota is investing a large sum of money in its Princeton, Ind. plant to produce Highlanders.

Toyota plans to expand operations in Western Indiana, creating 400 new jobs by 2013. The company says it will invest $400 million total, with $131 million going directly to its Princeton plant to consolidate Highlander SUV production to include both hybrid and export versions.

Ball State Economist Michael Hicks says Toyota‘s plan to shift production from Japan to Indiana is a good sign for the Hoosier economy.

“We have a very competitive labor force, and we have confidence, I think, from most businesses that the tax and regulatory environment is going to remain stable for some time,” he says.

Production is expected to begin in late 2013. The automaker says the hiring of new manufacturing associates will coincide with facility and machinery upgrades.

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