Toyota (TM) to Make $531M Investment in Texas Truck Plant [Yahoo! Finance]
Toyota Motor Corporation (TM)
US:NYSE Investor Relations:
toyota-global.com/investors
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Source: Yahoo! Finance
With this investment, the company aims to improve the production of vehicle components at the facility that assembles the Toyota Tundra and Toyota Sequoia. The project is expected to create 411 jobs and could span more than 500,000 square feet of new space. The proposal awaits Bexar County's approval and highlights the company's plans and potential community benefits. Bexar County is contemplating incentivizing the project to include a 10-year, 100% tax abatement worth $14.7 million and a skills development grant of up to $250,000. These incentives hinge on creating 250 jobs with an average annual salary of $71,864. In the past few years, Toyota has invested heavily in its Texas plant, including a $398 million upgrade in 2019 for its body-on-frame vehicle lineup redesign. This ongoing investment highlights Toyota's dedication to producing quality vehicles in the United States and meeting customer needs effectively. The county is contemplating another potential grant for off-si
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