Toyota Finds its New North American Headquarters in the Dallas-Fort Worth Area8.27.15
Back in April 2014, Toyota confirmed plans to move its North American headquarters over the course of three years to a newly-constructed location in northwestern Plano, Texas in the Dallas-Fort Worth area. This development project will finally put Texas, which until now only had two factories, on the auto industry’s grand stage. Toyota will create new employment opportunities within the company, which should have trickle-down effects that benefit the local economy more broadly. This development should also be a shot in the arm for the corporate housing market.
In January 2015, Toyota North America CEO Jim Lentz broke ground on the construction site in Plano. Slated to open in late-2016 or early-2017, the campus will cost roughly $350 million and span 2.1 million square feet. It will house nearly 4,000 employees. The employee base at the campus will include many individuals eventually being relocated from the company’s consolidated corporate divisions at its existing North American headquarters in southern California as well as its operations in Kentucky and New York. However, it will also feature office space for corporate partners, consultants, and contingency staff.
Toyota already has a presence in Texas. Its manufacturing plant in San Antonio directly employs 3,000 people. The San Antonio facility is estimated to support 15,000 additional jobs. In addition to bring a positive economic impact, Toyota has a reputation for contributing to surrounding communities where the company operates. This includes donations to local programs and organizations, especially those that support education.
Toyota will be the corporate anchor of a $2 billion development under construction on 240 acres at the intersection of State Highway 121, the Dallas North Tollway, and Headquarters Drive. Known as the Legacy West development, other corporations building or planning to build there include FedEx Office and Liberty Mutual.
Corporations are drawn to Texas by, among other reasons, its business-friendly environment and large population of well-educated professionals. The already-strong job market in the Dallas-Fort Worth area can expect a continued influx of new residents from across the US and elsewhere. Although some may only be drawn by economic opportunity, locals and many newcomers come to appreciate all that the vibrant area has to offer. We think you will, too.