Toyota Preparing $531 Million Texas Truck Plant Investment

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Toyota is planning an investment of $531 million into its truck manufacturing plant in Texas. This investment aims to enhance the production of vehicle components at the facility, which currently assembles the Toyota Tundra full-size pickup and Toyota Sequoia full-size SUV. The expansion is expected to create approximately 411 new jobs. The proposal, which has been submitted to Bexar County for approval, outlines the automaker’s plans and potential community benefits.

Toyota Motor Manufacturing Texas (TMMTX), operational since 2006, employs over 3,800 workers, with an additional 5,600 employed by on-site suppliers. A Toyota spokesperson confirmed the details of the investment request, emphasizing the company’s commitment to maintaining competitiveness and long-term employment stability in North America. However, no further details were provided at this stage.

Bexar County is considering offering incentives to support the project, including a 10-year tax abatement worth $14.7 million and a $250,000 skills development grant. These incentives are contingent on the creation of 250 jobs with an average annual salary of $71,864.

In recent years, Toyota has made substantial investments in the Texas plant, including a $398 million upgrade in 2019 to prepare for the redesign of its body-on-frame vehicle lineup. This ongoing investment strategy underscores Toyota’s commitment to producing high-quality vehicles in the U.S. and meeting customer demands efficiently.

Source: Automotive News


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