State Rep. Haraz N. Ghanbari (R-Perrysburg) announces that Peloton Interactive, Inc. has made the decision to build its first U.S. factory in Troy Township, located in Wood County.
“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 Ghanbari. “This is very exciting news and shows economic promise for Wood County as this will bring further development and jobs to Northwest Ohio.”
The new factory will create 2,174 jobs and $401 million in capital investment. Additionally, the project will generate a total of $138 million in new annual payroll.
The site will be home to the Peloton Output Park (POP), a state-of-the art factory that will be dedicated to producing Peloton’s award-winning Peloton Bike, Bike+ and Peloton Tread starting in 2023.
The new facility enables the company to on-shore operations with access to an available skilled manufacturing workforce, existing supplier network, speed to market, and an effective cost structure enabling Peloton to meet increased demand and reduce logistic costs and support speed to market.
Reports assert that Troy Township was selected due to delivering the proper state and local partnerships with outstanding talent.
Ghanbari notes he is thankful for the collaborators of this initiative including JobsOhio, Ohio Development Services Agency, Regional Growth Partnership, Wood County Economic Development Commission, Ohio Department of Transportation, and local utility partners.