Setup time and cost reductions and quality improvements have been key issues in modern manufacturing systems. Advantages of setup time reduction are more significant when a single facility produces multiple products. This paper presents multiproduct capacitated economic production quantity models for a system in which setup reduction and quality improvement can be achieved with one-time initial investment. Problems for models with a power functional form of the investment costs are formulated as geometric programs, and closed-form solutions for the problems are obtained. Example problems are solved to illustrate the models.