Peloton To Invest $400 Million To Build Its First US Manufacturing Facility In Ohio
Peloton said Monday it will invest $400 million to build its first factory in the United States to speed up production and delivery of its popular cycles and high-end treadmill machines. CNBC reports: After vetting a number of locations, it selected a 200-acre site in Troy Township in Wood County, Ohio, to construct more than 1 million square feet of manufacturing, office and amenities space, the company said. Peloton expects to break ground later this summer on the project, which should bring more than 2,000 jobs to the area. The facility should be up and running by 2023. Potential customers will be able to visit the Ohio facility to view its products or schedule tours to see the cycles and treadmills being made, the company said. The site will also have a fitness center for its workers. According to Foley, the extra space also means Peloton will have room to manufacture additional products in the years ahead.
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