Peloton has announced that the location of its first US factory will be Troy Township in Wood County, Ohio.
The exercise equipment company is planning to spend $400 million on the new development, which will be called the Peloton Output Park (POP). This “state-of-the-art factory” is expected to start production in 2023, and when it does, the Peloton will begin shipping Bike, Bike+, and Tread products (with a “Made in America” stamp on them, surely?).
“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,” said Peloton’s CEO and co-founder John Foley. He went on to confirm that manufacturing in Asia will continue to receive investment, as will the existing Precor manufacturing presence in the US that Peloton inherited as part of its acquisition last year.
Ohio Governor Mike DeWine welcomed the news, saying “The pandemic has demonstrated the need to on-shore manufacturing and rebuild supply chains, and Peloton’s decision to build its first North American manufacturing facility in Ohio is a great example of an American company stepping up and leading that effort.”
The new facotry is expected to create 2,174 new jobs in Wood County spread across corporate, manufacturing, assembly, and quality assurance functions. That in turn should bolster the local economy and potentially attract more new businesses to the area.
Peloton will no doubt be pleased to have some good news to share following the voluntary recalls last month of the Tread and Tread+ treadmills after it was found they could cause injuries to small children and pets.
