North Carolina secured one of the largest manufacturing projects in its history when Toyota Motor Corporation selected the Greensboro-Randolph Megasite in Liberty for its first battery plant outside Japan.
Now operating as Toyota Battery Manufacturing North Carolina, the project represents approximately $13.9 billion in total investment and about 5,100 jobs.
This is structural growth — not a short-term bump.
What’s Being Built
The facility manufactures lithium-ion batteries for:
- Hybrid (HEV)
- Plug-in hybrid (PHEV)
- Battery electric vehicles (BEV)
Production began in 2025, with batteries supplying Toyota’s North American vehicle plants. At full buildout, capacity is expected to reach roughly 30 gigawatt-hours annually, placing North Carolina firmly inside the global EV supply chain.
Where the Economic Benefits Land
While the plant sits in Randolph County, the economic impact will ripple well beyond Liberty.
Primary beneficiaries include:
- Asheboro – the county seat and largest nearby population center
- Greensboro – major housing, logistics, and professional services hub
- High Point – workforce and distribution connections
- Winston-Salem – advanced manufacturing and supply-chain overlap
- The broader Piedmont Triad region
Large-scale manufacturing tends to drive:
- Supplier and logistics expansion
- Construction and engineering demand
- Workforce training growth
- Increased housing demand across multiple price points
- Neighborhood retail expansion near employment centers
In short, jobs concentrate at the plant. Economic activity disperses across the region.
Why It Matters
The original 2021 announcement began at $1.29 billion and 1,750 jobs. Expansions pushed the total commitment to nearly $14 billion.
That level of reinvestment reflects long-term confidence in North Carolina’s workforce, infrastructure, and business climate.
State partners, including the Economic Development Partnership of North Carolina and the North Carolina Department of Commerce, spent years assembling and marketing the megasite before Toyota ever announced its decision.
The Bottom Line
Toyota’s battery plant is a generational industrial asset.
It strengthens Randolph County.
It accelerates growth in the Piedmont Triad.
It reinforces North Carolina’s position in advanced manufacturing and electrification.
Win Coleman, CCIM, is a graduate of East Carolina University where he received his bachelor’s degree in finance. He holds both North Carolina and South Carolina Real Estate Licenses and was awarded the prestigious CCIM (Certified Commercial Investment Member) designation in 2008.
Win served on the board of directors of The Triangle Apartment Association (TAA) where he co-chaired The Independent Rental Owner’s Council (IROC). He is a member of the International Council of Shopping Centers (ICSC), the Triangle Commercial Association of Realtors (TCAR) and the Raleigh Kiwanis Club.
While a specialist in site identification, evaluation and acquisition for investors and businesses, he also has extensive experience in brokerage, leasing, property management and investment sales.
Win assists in managing The Coleman Group, LLC, which owns a portfolio of investment properties, and he is a member of our acquisitions committee. He has lifelong experience and love for historic properties including the one he restored and where he resides in Historic Oakwood in Downtown Raleigh.