Honda Injects $400 Million in Ohio Expansions
There are many ways a company can deal with a nation-wide recession. The Honda way is to create a ripple effect that will ultimately result in future sustainability and financial security. Since late last year, Honda has announced a total of $400 million invested within the company arms and legs in Ohio. Currently, plants and facilities in Troy, East Liberty, Marysville and Anna are feeling the weight of this money and spreading it across expansions.
The inspiration behind such spend? Dayton Daily News reports that "company officials expect the U.S. economy to gain new vigor after a debilitating recession."1 Other factors prompting Honda expansion are rising federal fuel mileage standards and buyer fear surrounding sky-high gas prices.
Since its Marysville beginnings, back in the 1970s, Honda has not laid off a single employee in Ohio. A record like this gives Terry Lee Honda a good dose of confidence in the staying power of the automaker's latest efforts.
"When they do make expansions and investments, they're permanent. They're really mindful of the long picture," explains Tracy Schneiter, VP for automotive research firm IRN Inc.
While looking at the bigger picture, it's important to keep in mind any potential effects of a decision. This is especially true when the decision involves almost half a billion in spending. Fortunately, Honda has already brought to light several extremely positive side-effects. For one, expansions will increase the need for new materials. Since 2010, the automaker has already spent $17.5 billion in Honda parts. In addition to domestic expenditures, the expansion is slated to create around 100 new jobs for community members in Ohio locations.
Terry Lee Honda at 8693 E US Highway 36, Avon, IN is hopeful of the Honda role in bolstering the economy. To experience the dedicated Honda brand for yourself, feel free to contact us or stop by for a test drive. Or, if it's more convenient, you can always check out any of our new Honda inventory online.