Gov. Rick Perry welcomed Toyota's new North American headquarters to Plano. Once completed, the facility will bring nearly 4,000 jobs and more than $300 million in capital investment to North Texas.
"There's a lot to love about today as we proudly welcome Toyota's North American headquarters to the Lone Star State," Gov. Perry said. "Toyota has been a significant part of the Story of Texas over the past decade and stands as a shining example of all we have worked hard to achieve: a major employer bringing quality jobs to Texas, helping to make their new communities even stronger."
Toyota's relocation to Plano was supported by an investment from the Texas Enterprise Fund (TEF). In one of the largest TEF awards ever, the TEF will award Toyota $40 million to build its new North American headquarters. The TEF was created by the Legislature in 2003. Since then, the TEF has awarded more than $575 million, creating nearly 77,000 jobs and more than $24 billion in capital investment in Texas.
Texas' economic climate – built on low taxes, predictable regulations, fair courts and a skilled workforce – has allowed Texas to top the list of best states for business 10 years running in a survey of CEO's. Last month, Texas set a state record for jobs created in a 12-month period, adding more than 413,000 between September 2013 and September 2014.
"Toyota recognized our efforts to make our economic climate even more jobs-friendly," Gov. Perry said. "Every job that's created in Texas has a ripple effect, creating new opportunities for Texans and their families not just with jobs here, but with new jobs that arise as a result of Toyota's arrival."
The new Plano headquarters adds to the already strong presence Toyota has in Texas. Toyota, combined with 21 on-site suppliers, supports 6,000 jobs in San Antonio, including 2,900 from its $2.3 billion manufacturing plant.
"We are very grateful to the governor and his team for their support of Toyota's new headquarters in the Lone Star State," said Toyota Motor North America CEO Jim Lentz. "When we started our search for a new home, we looked at every major city across the country from both the business point of view as well as the employee's point of view in terms of quality of life. I can tell you there is no better place than Texas to start the next chapter of Toyota's history in North America, and we are excited about our future together."
Toyota's new North American headquarters is expected to be completed in late 2016 or early 2017.