Exercise equipment maker Peloton is building its first U.S. factory in Ohio. The 200-acre campus in rural Wood County will be powered, in part, by renewable energy, according to a company press release.
Peloton announced the plans May 24 to spend $400 million building more than 1 million square feet of manufacturing, office and amenities space. The company will break ground on the site in Troy Township, just south of Toledo, later this summer.
The new Peloton Output Park will make the Peloton Bike, Bike+ and Peloton Tread line of products starting in 2023.
The company said it plans to install renewable energy sources to power its operations, although no details were available as to what types of energy generation would be built or how much of the facility’s energy usage would come from renewables.
The new facility will also create 2,100 new jobs at all levels of employment. The Ohio Tax Credit Authority approved a 15-year 2.3% job creation tax credit for the project. The site selection and project is contingent on state and local approvals.
“While we will continue to invest in our Asian manufacturing footprint as well as our existing facilities in the U.S. via our Precor sites, the new Peloton Output Park gives us a massive strategic lever to make sure we have capacity, quality, and economies of scale in our bike and tread product lines, to support our continued growth for years and years to come,” said Peloton CEO John Foley, in a statement.
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