Friday, September 24, 2021
82.9 F
Fort Worth

Plano approves incentive package for Toyota

🕐 1 min read

PLANO, Texas (AP) — North Texas officials have approved a $6.75 million incentive package for Toyota as the automaker prepares to move its U.S. headquarters from California to Texas.

The Plano city council OK’d the package Monday, paving the way for a $350 million campus that will house some 3,650 employees in the suburb north of Dallas.

The approval comes just weeks after Toyota announced it will consolidate its corporate, manufacturing, marketing and sales operations in Plano.

Toyota must meet a series of timetables to receive the Plano incentives. For instance, the company will receive $2.9 million if it completes a 1 million-square-foot building and transfers at least 2,900 jobs by December 2017.

Plano, in turn, will receive $70 million in property tax and sales tax revenues in the first 10 years.

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

Related Articles

Our Digital Sponsors

Latest Articles

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate