Exercise equipment company Peloton announced on Monday that it will build its first United States manufacturing plant in Troy Township.
Groundbreaking on the $400 million Peloton Outlet Park, housed on a 200-acre site in eastern Wood County, is scheduled to begin later this summer. Peloton estimates that the facility will bring more than 2,000 jobs to Ohio.
“We are thrilled to bring a good portion of our manufacturing to United States soil and proud that it will be in the great state of Ohio,” Peloton CEO and co-founder John Foley said in a press release.
The planned facility will feature a manufacturing floor, office space, a team lounge and even a full fitness center for employees. The company also plans to host an on-site showroom to give customers a chance to see Peloton products.
Governor Mike DeWine said in a press release that Peloton has been approved for a Job Creation Tax Credit of 1.124 percent over the course of seven years.
According to CNBC, Peloton currently manufactures its products through third-party facilities in Asia, but increased demand during the COVID-19 pandemic has led to product delays.
The company said it expects the Troy Township facility to be ready in 2023.