Toyota Group Announces Plans for New Dallas Headquarters

Toyota Industries Commercial Finance Inc., which is a new Toyota Group spinoff, has announced plans to open a new global headquarters in Dallas. This news comes shortly after the company built a large corporate campus in Plano to house its sister company Toyota North America. The new spinoff is a separate entity from Toyota Motor Sales and Toyota Motor Credit Corp., both of which have previously announced plans to move to North Texas as part of the company’s planned relocation strategy.

Bringing Jobs to North Texas

Formerly part of Toyota Motor Credit Corp, Toyota Industries Commercial Finance Inc. was developed to serve Toyota Industries Corp. Toyota Industries Corp. manufactures industrial machines and commercial-grade vehicles. As such, the company will focus on providing financing for heavy trucks, forklifts and other similar items manufactured by Toyota Industries Corp. The corporation also distributes machines from the company’s Columbus, Indiana location.

As Toyota Motor Credit Corp, the company employed approximately 100 people in California. These individuals have been offered jobs at the new Texas headquarters, which will be located in Cypress Waters in North Dallas. The company will also bring approximately 150 additional full-time employees to the new facilities with an average salary of around $80,000 per year.

Originally developed by Dallas-based Billingsley Co., the Toyota Industries Commercial Finance headquarters will be located in the currently-existing office space at 8951 Cypress Waters Boulevard. The 60,000-square-foot office, residential and retail project cost $3.5 billion to complete.

Drawing Toyota-Related Groups to North Texas

With Toyota moving so many of its facilities to North Texas, a number of Toyota-related groups are also choosing to pen offices in the Dallas-Fort Worth area in order to stay close to the company. As such, North Texas is quickly becoming the hot spot for vendors and other supporters of Toyota North America. Among these is one of Toyota’s law firms, which has announced plans to open an office in Dallas in order to provide better support to the company. Saatchi & Saatchi, which is Toyota’s advertising agency, has also announced that it is looking for a new office in Uptown.

Working Cooperatively with City Officials

To help give Toyota more incentives to continue expansion in the Dallas-Fort Worth area, the City of Dallas is prepared to provide Toyota Industries Commercial Finance with a $277,500 grant if the company has at least 150 full-time employees in place by the end of 2016. As part of the deal, Toyota Industries would either have to keep those employees in place for five years or repay half of the grant. Bringing the company into the area is expected to have a ten-year net fiscal impact of $3.6 million.

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