Peloton’s first U.S. factory will bring $400M and 2,200 jobs to Ohio

High-end exercise equipment manufacturer Peloton Interactive Inc. will build its first U.S. factory in Wood County, Ohio—a “one-million-square-foot manufacturing plant that will cost $400 million and employ nearly 2,200 workers,” The Toledo Blade reports. The Ohio Tax Credit Authority has approved an incentive package for the project, including a “2.301 percent, 15-year Job Creation Tax Credit,” according to the article. Peloton has committed to spending $400 million on the new site, to be named Peloton Output Park, and promised “to provide $138 million in new annual payroll” as part of the deal. Peloton plans to incorporate renewable energy sources to power Peloton Output Park. For more, read the full article

Economic Development, Financial Incentives, Renewable Energy, State Updates