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Toyota Plans To Invest Over $500 Million At Texas Plant

New investments at the Texas facility will create 411 new jobs with an annual salary of $68,245

                                        https://www.carscoops.com/author/bradcarscoops-com/                                    

by Brad Anderson

4 hours ago

 Toyota Plans To Invest Over $500 Million At Texas Plant

  • Toyota Motor Manufacturing Texas currently builds the Sequoia and Tundra.
  • The carmaker plans to expand its existing plant while also building a new facility.
  • The local county may provide Toyota with a tax abatement worth $14.7 million.

Toyota is looking to invest as much as $531.7 million into its body-on-frame assembly complex near San Antonio, Texas.

The carmaker’s planned investment was published in documents recently prepared for County Commissioners. It wants to build a new facility and expand the size of its existing plant to more than 500,000 square feet. Toyota says the upgrades will create 411 new jobs with a base hourly wage of $20.54 and an average annual salary of $68,245.

Read: Toyota Considering Tacoma And Tundra PHEVs And EVs

Local commissioners voted in favor of the investments, allowing discussions to move forward. Bexar County is offering several incentives to Toyota, including a 10-year, 100% tax abatement worth $14.7 million, and a skill development grant of up to $250,000 for 250 jobs paying at least $34.55 an hour.

“As stated in the public notice, TMMTX is seeking tax abatements for a potential project totaling $531,720,000, located on our property,” Toyota spokeswoman Kelly Stefanich told the San Antonio Report. “We are constantly evaluating our competitiveness and making decisions to support the potential for continued investments across our North American operations, helping to ensure our promise of long-term employment stability. We are always looking for ways to better meet our customers’ needs and produce where we sell. We have nothing to announce at this time.”

County Judge Peter Sakai recently visited Japan with a slew of other county leaders to meet with businesses involved in advanced manufacturing. Sakai welcomed new investments from Toyota.

 Toyota Plans To Invest Over $500 Million At Texas Plant

“Creating new jobs, growing our economy is a key priority,” he said. “Toyota is a trusted corporate partner in our community. And I am optimistic about these negotiations.”

The Toyota Motor Manufacturing Texas facility employs more than 3,800 people. It currently handles production of the Sequoia Hybrid and Tundra.

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