Wednesday, April 30, 2014

Toyota Motor North America, Inc.

Toyota Motor North America’s recent headquarter move from Torrance, California to Plano, Texas was a huge testament to the corporate responsiveness of The State of Texas. Toyota is an automotive company founded in 1937 in Japan under the principles of Respect for People and Continuous Improvement. Toyota is consistently a top performer in the automotive industry, recently finishing at the top of global automotive sales for the first half of 2014.

The move to Plano will allow Toyota to consolidate their employees into one city for the first time. Before the move, Toyota had their workers spread among California, Kentucky, and New York. Toyota has relocated around 50 employees to date with 350 more expected to arrive later this year. The headquarters will house about 4,000 employees. These 4,000 employees will be made up of current Toyota employees coming from California, Kentucky, and New York as well as new talent. View a sneak peek of Toyota's World Headquarters in Plano.

Toyota received a grant from the Texas Enterprise Fund (TEF) totaling $40 million to build their new North Texas headquarters. The company is expected to create more than $300 million in capital investment for North Texas

The move was driven by a need to foster collaboration among the different branches of Toyota, and Plano offered the space to create a state-of-the-art facility as well as highly ranked schooling, cultural hubs, and a central-time-zoned location with close proximity to international airports. The State of Texas also boasts lower corporate and income taxes and smart business regulations.

As part of the relocation, Toyota hosted all-expense paid three-day trips to Plano for current workers. Workers were able to explore Plano, Dallas, and the surrounding areas and discover the schooling and housing options the cities have to offer. The company has received positive feedback from current employees that have visited the area.

In January 2015, the company officially broke ground in Plano. The City of Plano has planned a new development called Legacy West, a continuation of The Shops at Legacy, around Toyota’s new headquarters. This development will add commercial space, residential units, and apartments to the area directly surrounding Toyota.

Toyota has already brought the party to Plano – literally. After announcing the move, they hosted a block party in the city with dancing, music, and free food. Plano residents approved of Toyota’s first impression. Although Toyota already has a presence in Plano, the campus is expected to be ready for business in late 2016 or early 2017.