Some of you may refer to work as being on a treadmill. Does that apply if you're actually building treadmills?
Peloton, the fitness company with "smart" exercise bikes and treadmills, says it will invest $400 million for a U.S. factory in Troy, Ohio, just south of Toledo.
Peloton Output Park (Peloton refers to it as "POP") will be a 200-acre, 1 million-square-foot plant with manufacturing, an office and amenities. It will create 2,174 jobs, the company announced May 24.
The company did not specify if it will have any in-house molding, but its bikes and treadmills both use plastics extensively, so it will need to rely on local suppliers if it doesn't make its own parts. Peloton also owns the Precor brand of exercise equipment.
Having U.S. manufacturing will help the company respond more quickly to demand, without risking the type of delayed delivery issues that have popped up during the pandemic.
"While we will continue to invest in our Asian manufacturing footprint as well as our existing facilities in the U.S. via our Precor sites, the new Peloton Output Park gives us a massive strategic lever to make sure we have capacity, quality and economies of scale ... for years and years to come," Peloton CEO and co-founder John Foley said in a news release.