Toyota confirmed this afternoon that it will move its U.S. headquarters to Plano.
This move will consolidate the company’s three separate North American headquarters for manufacturing, sales and marketing, and corporate operations. Toyota’s finance division will also make the move to North Texas, most likely to Legacy business park.
The relocation will bring about 4,000 jobs from California, Kentucky, and New York to a brand new state-of-the-art campus to be completed in Plano by late 2016 or early 2017. Though the majority of workers will not move until construction is completed, small groups of workers will start moving to the area this summer. Toyota has committed to invest $300 million in the area, and has been granted $40 million by the state of Texas through the Texas Enterprise Fund.
The relocation will be the largest out-of-state move to Plano since J.C. Penney transferred its headquarters in the 1980’s. The state is already home to Toyota’s pickup plant in San Antonio and a General Motors Co. factory in Arlington.
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