May 9, 2014
“Since we announced plans to establish our new North American headquarters in Plano, all of us at Toyota have been humbled by the show of support we’ve received from customers, dealers, elected officials and community leaders across the Lone Star State.”– Jim Lentz, Chief Executive of Toyota N. America In Dallas Morning News
“The announcement of Toyota moving its U.S. headquarters from California to Texas is a big coup for the Lone Star State. It should be a lesson to governments on every level about the advantages of making economic conditions as favorable as possible.” – Lubbock Avalanche-Journal
“Texas continues its 10-year historical position as the best state overall.” – Chief Executive: 2014 Best & Worst States for Business
Toyota Says Thanks For The Texas-Size Welcome
Dallas Morning News
Jim Lentz, Chief Executive of Toyota North America
May 9, 2014
Since we announced plans to establish our new North American headquarters in Plano, all of us at Toyota have been humbled by the show of support we’ve received from customers, dealers, elected officials and community leaders across the Lone Star State. This is an exciting time for our company, and I appreciate how welcome we’ve already been made to feel.
Of course, Toyota is no stranger to Texas – we are proud to have been building Tacomas and Tundras in San Antonio since 2006. We also have a long history working with Gov. Rick Perry, who was instrumental in securing our San Antonio manufacturing facility back then. We appreciate all that he and his team did to put together such a highly competitive proposal for our new headquarters site, which included support from the Texas Enterprise Fund. When considering an investment of this size and scope, incentive programs like TEF can make a real difference.
Many people want to know why we chose Texas for our new headquarters. Frankly, there were many factors behind the decision. In fact, we picked North Dallas/Plano after evaluating more than 10 locations against a wide range of criteria.
As we looked closer, though, the advantages Plano offered our company and the quality of life it offered our employees became clear – including the cost of living, access to top-tier schools and cultural offerings, low tax rates and a wide range of affordable urban and suburban living options within a short commute of our headquarters site.
Today, Toyota has about 6,000 direct and supplier employees in Texas. I want to thank all Texans in advance for welcoming thousands more of us to your communities over the next few years and for your continued support as we embark on this exciting transition. Bottom line, we are confident that Texas is the right place to start the next chapter of Toyota’s history in North America, and we are excited about our future together. We look forward to a long and fruitful stay!
Our View: Business Advantages Attract Toyota Headquarters To Texas
May 9, 2014
The announcement of Toyota moving its U.S. headquarters from California to Texas is a big coup for the Lone Star State. It should be a lesson to governments on every level about the advantages of making economic conditions as favorable as possible.
The move from Torrance, Calif., a suburb of Los Angeles, to Plano, 25 miles north of Dallas, will add about 4,000 jobs in Texas. The company already employs almost 3,000 Texas employees at a factory in San Antonio that makes trucks.
Toyota, which is the largest automaker in the world and sold 2.2 million vehicles in the U.S. last year, will spend $300 million in building the new headquarters in Plano, according to Texas Gov. Rick Perry.
The automaker’s move to Texas followed two visits by Perry to California and trips by the governor to other states to promote the favorable business climate of lower taxes and lower regulation in Texas.
And other businesses have made the decisions to come to Texas for the same business-friendly climate that attracted Toyota.
Perry has been criticized in other states for the trips where he made a pitch for Texas.
He knows attracting business is very competitive and he sells well because he knows the economic advantages Texas has to offer.
Companies are attracted to the best place for them to do business. Toyota is the latest company to illustrate that fact.
Chief Executive: 2014 Best & Worst States for Business
May 8, 2014
In the 10th annual survey of CEOs concerning their views of the best and worst states for business, over 500 CEOs across the U.S. responded. Business leaders were asked to grade states with which they were familiar on a variety of measures that CEOs themselves have said are critical. These include the tax and regulatory regime, the quality of the workforce and the quality of the living environment. For example, a state’s attitude toward business is viewed as a critical component of its tax and regulatory regime, while employees’ attitude toward management is considered a crucial factor in the perceived quality of a region’s workforce. Public education and health are also important factors in the living environment, as are such things as cost of living and affordable housing.
Texas continues its 10-year historical position as the best state overall.
The Economist reports that it takes two years to open a new restaurant in the Golden State compared to six to eight weeks in Texas.