Peloton Interactive Inc. will build a new manufacturing plant in Troy Township, Ohio, in 2023, The Associated Press reported.
Dubbed "Peloton Output Park", the $400 million investment will be the exercise equipment maker's first dedicated local site and will create more than 2,000 jobs.
The company said the facility will have more than 200 acres and more than 1 million square feet of office and manufacturing space to make the Peloton Bike, Bike+ and Peloton Tread.
"We had planned to do this for years, but I think the pandemic put an exclamation point on why it's going to be awesome," CNBC quoted Peloton co-founder and chief executive officer John Foley as saying in an interview.
The New York-based company said it plans to break ground on the site in Troy over the summer. Job positions will span manufacturing, corporate, assembly and quality assurance functions.
One of the most popular names in home exercise equipment, Peloton has around 3,700 employees, according to FactSet.
The company has faced increasing demand during the COVID-19 pandemic. Peloton reported revenue in the first quarter this year more than doubled on strong subscription growth, according to AP.
Peloton, forced this month to recall thousands of its $4,300 fitness treadmills over customer injuries and the death of a child, is quietly testing a new equipment called "The Tiger," sources told The New York Post.
Peloton's pricy exercise equipment starts at $1,895 for an entry-level bike, while the more affordable Tread treadmill has a price tag of $2,495.
Meanwhile, Peloton said it will continue to accelerate production at a new production center in Taiwan, and will also continue investing in its Asian manufacturing footprint.
