Peloton To Build First U.S. Factory
Posted: May 24, 2021 in Suppliers
Peloton
NEW YORK, N.Y. – Peloton Interactive, Inc. (Nasdaq: PTON) has announced plans to build its first U.S. factory. After a rigorous selection process, Peloton selected Troy Township in Wood County, Ohio for the site of Peloton Output Park (POP), a state-of-the art factory that will be dedicated to producing Peloton’s award-winning Peloton Bike, Bike+ and Peloton Tread starting in 2023. Peloton expects to break ground on the site later this summer. Throughout the multi-year development, Peloton will commit approximately $400 million to the facility.
“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. “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 in our bike and tread product lines, to support our continued growth for years and years to come. We are incredibly excited to meet and welcome the Troy Township community into the Peloton family fold.”
Investing in American Manufacturing
Peloton Output Park is expected to sit on over 200 acres and have more than one million square feet of manufacturing, office, and amenities space, making it one of the largest connected fitness manufacturing plants in the world. The facility will be built from the ground up in the center of Troy Township and house the latest in industrial technology and automation to make products more efficiently and to ensure quality unit assembly. On campus, Peloton plans to incorporate renewable energy sources to power its operations.
“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,” said Ohio Governor Mike DeWine. “Ohio is excited to partner with Peloton’s forward-looking leadership team in developing a new, state-of-the-art facility using connective technology, and creating 2,174 new manufacturing jobs in Wood County.”
Peloton Output Park will be the latest addition to the company’s growing global manufacturing network that includes third-party partners in Asia and Peloton’s own facilities. Peloton will have more than one and a half million square feet of owned and leased manufacturing space just in the United States, including the Precor facilities in North Carolina and Washington state.
Growing the Peloton Team and Community
Over the next few years, Peloton expects to add over 2,000 jobs to the Troy Township area across executive, managerial, and entry-level opportunities. Positions will span corporate, manufacturing, assembly and quality assurance functions.
In addition to the active manufacturing floor, Peloton has plans to build ample office space for new team members including a fitness center with the latest connected fitness equipment and a team lounge with plenty of room to collaborate.
Peloton Output Park will also be open to the Troy Township and larger Midwest community. The company plans to host facility tours and open an on-site showroom. Customers will also have the option to check-out Peloton products first-hand.
Looking Forward
Peloton’s site selection in Troy Township is contingent upon final approvals from state and local officials. The company is working closely with community leaders, such as JobsOhio, the Ohio Development Services Agency and the Regional Growth Partnership, to bring the project to Wood County and make sure this new location complements the existing Troy Township community.
