Plano approves millions of dollars in Toyota incentives - Dallas News | myFOXdfw.com

Plano approves millions of dollars in Toyota incentives

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PLANO, Texas - City leaders at Plano City Hall unanimously approved millions of dollars on Monday night in incentives to bring Toyota's headquarters to town.

However, the automaker has to meet deadlines for hiring and construction.

Toyota says it will build a $300 million facility in Plano’s Legacy business park and create 3,650 full-time jobs by 2018.

The city, in turn, will give Toyota a $6.75 million grant and a 50 percent tax break on the land over 20 years.

At Monday night’s meeting, there was almost no discussion, and only one resident spoke in support of the deal, saying he drove his Prius to the meeting. Toyota representatives did not speak at the meeting.

Toyota is currently based in Torrance, CA outside of Los Angeles, but said the new headquarters will combine manufacturing, sales, marketing and corporate offices.

The car company doesn't know how many existing employees will move from its California, New York and Kentucky facilities to move to north Texas.

Talks between Toyota and state officials began a few years ago. Plano joined the mix four months ago, according to its mayor.



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