VINCENNES – The news of a $1.4 billion expansion for an all-new battery electric vehicle to be built at the Toyota Indiana facility in Gibson County was well-received by Knox County Indiana Economic Development (KCIED). “This is excellent news for Princeton and the southwest Indiana region that includes Knox County,” said Chris Pfaff, KCIED CEO, who also recently served as chair of the Southwest Indiana Development Council. “Our workforce is regional in scope, with more than 600 Knox County-based workers commuting daily into Gibson County, so we see this expansion as an across-the-board win for the region.” 

In making the April 25 announcement, Gov. Eric Holcomb said: “Indiana and Toyota share a nearly 30-year partnership that has cultivated job stability and economic opportunity in Princeton and the surrounding southwest Indiana region for decades.”  

As a media brief from the Governor’s office noted, “Today’s announcement is part of Toyota’s commitment to increase electrification efforts in the U.S. and grows the company’s total investment in its Indiana facility to $8 billion.” Continuing, the announcement stated:  “This is the company’s third major expansion announcement for the Princeton facility in four years, following commitments in 2021 to bring two new vehicles to Indiana, investing $803 million and create 1,400 new jobs, and in 2020 to complete its plant modernization project, investing $700 million and creating 150 new jobs.” 

Pfaff and Knox County officials joined the Governor in the fall of 2023 to visit Japan and various Japanese-based companies who do business in Indiana. “Much of Japan’s investment in Indiana is interconnected, especially concerning automotive manufacturing,” Pfaff said. “Knox County Indiana is home to Futaba Indiana of America, which directly serves the Toyota operations in Princeton.” 

Pfaff recently published a analysis commentary on Japan’s broad engagement and its importance in the Hoosier state,  which can be accessed here:   Additional details of the Toyota expansion and history can be found from the Governor’s announcement, available here: 

About Knox County Indiana Economic Development 

Established in 1981, Knox County Economic Development’s leadership and vision have created an atmosphere of cooperation. We are dedicated to maintaining and improving the quality of life for the citizens of Knox County by developing the overall economy of the county. Knox County Economic Development has a supportive board that is actively involved in the recruitment, expansion, and retention of businesses. In addition to a strong partnership with the City of Vincennes and Knox County government, Knox County Economic Development has more than 100 private members that help fund the economic development efforts. For more information, please visit