Toyota Financial Services, based in Torrance, California, is all set to merge headquarters along with Toyota Motor Sales, U.S.A., Toyota Motor Engineering & Manufacturing North America, and Toyota Motor North America in Plano, Texas.
The company will offer relocation and retention packages to approximately 1,000 of it’s employees “in good standing” at the California headquarters.
In response to the anticipated $300 million investment Toyota will make in the state and the final 4,000 strong employee force, the state of Texas has offered Toyota a $40 million investment through the Texas Enterprise Fund (TEF).
Toyota has stated that the move is not motivated by tax incentives, but rather a desire to consolidate with the rest of the company.
TFS associates in regional, sales offices as well as service centers throughout California, and Toyota Financial Savings Bank in Henderson, NV will not relocate. The majority of relocations is expected to take place in 2017, by which time the new headquarters will be fully operational.
Read the full article here: