Peloton chooses Wood County site for first U.S. manufacturing facility
It will be up and running in 2023
TROY TOWNSHIP, Ohio (WTVG) - Popular cycle and treadmill machine maker Peloton has chosen a Wood County township as the site for its first manufacturing facility in the United States.
A site in Troy Township along Pemberville Rd. in eastern Wood County was picked as the site. The Peloton facility will create more than 2,100 jobs. The company will invest $400 million to build the facility. Several Peloton products will be made here.
The new facility will generate about $138 million in annual payroll. Wade Gottschalk, head of Wood County Economic Development, said that money will benefit the region, state, and a lot of other local businesses.
“That’s going to be additional to the region, new money that’s going to come in on an annual basis,” Gottschalk said. “A lot of that money will be spent right here in the region. It’s going to allow other businesses to expand. We call it the multiplier effect in economic development. It’s a real thing. It will help all the service industries, retail, the housing market. Everything will do better because there is that much new money coming in on an annual basis just from this one project.”
Chase Eikenbary, a senior project manager with the Regional Growth Partnership, said the local workforce was a big part of the draw for the company.
“Our talented and outstanding workforce is one of the factors that led them to Troy Township. It is part of our heritage in northwest Ohio. Manufacturing is in our DNA. That’s what we do well here. We make things, and companies realize that,” she said.
According to a press release from the office of Ohio Governor Mike DeWine, the Ohio Tax Credit Authority approved a 1.124 percent, seven-year Job Creation Tax Credit for this project.
The Peloton Output Park state-of-the-art factory will begin producing the Peloton Bike, Bike+, and Peloton Tread starting in 2023.
“I am very happy to announce that with a very competitive selection process, the ever-popular Peloton has decided to begin their professional journey in the United States right here in our very own Troy Township,” said State Rep. Haraz N. Ghanbari (R-Perrysburg). “This is very exciting news and shows economic promise for Wood County as this will bring further development and jobs to Northwest Ohio.”
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