Texas offers Toyota $40M for HQ move

Published on NewsOK Modified: April 28, 2014 at 2:39 pm •  Published: April 28, 2014
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AUSTIN, Texas (AP) — The state of Texas has offered Toyota $40 million as the automaker begins moving its U.S. headquarters from California to suburban Dallas.

Gov. Rick Perry announced Monday that Toyota will invest more than $300 million in a facility in Plano that will house nearly 4,000 employees. They will come from Toyota's sales, marketing, engineering, manufacturing and finance divisions currently spread around the country.

Perry has made two visits to California since last year, trying to convince top employers there to move to Texas.

In a statement, he said Texas' low taxes and relaxed regulations can help Toyota thrive.

The state incentives for Toyota come from the Texas Enterprise Fund.

A Perry signature initiative funded by taxpayers, the fund has been used to persuade firms to expand in Texas since 2003.