Toyota: Move to Texas 'most significant change' for North American operations in ...
Toyota Motor Co. (NYSE: TM) has confirmed it plans to establish its new North American headquarters in Plano to 'better serve customers and position Toyota for sustainable, long-term growth,' which is expected to cost more than $300 million. Within the next three years, Toyota's three separate North American headquarters for manufacturing, sales and marketing, and corporate operations will relocate to Plano to operate in a single corporate campus, which will employ about 4,000 workers in Dallas-Fort Worth, which will have a significant impact on the region.
'With our major North American business affiliates and leaders together in one location for the first time, we will be better equipped to speed decision making, share best practices, and leverage the combined strength of our employees,' said Jim Lentz, the CEO for Toyota's North American region, in a written statement. 'This, in turn, will strengthen our ability to put customers first and to continue making great products that exceed their expectations. 'Ultimately, enabling greater collaboration and efficiencies across Toyota will help us become a more dynamic, innovative and successful organization in North America,' Lentz said. 'This is the most significant change we've made to our North American operations in the past 50 years, and we are excited for what the future holds.' The headquarters transition will impact about 2,000 employees at Toyota Motor Sales U.S.A. Inc. in Torrance, Calif., as well as 1,000 employees at Toyota Motor Engineering & Manufacturing North America Inc. in Erlanger, Ky., and certain employees at Toyota Motor North America in New York, N.Y. The majority of the employees will not move until construction on Toyota's new headquarters is completed in late 2016 or early 2017. Toyota Financial Services is not expected to transition to Plano from its current headquarters in Torrance, Calif., until 2017, which would impact about 1,000 employees. The corporate campus is expected to break ground this fall. Toyota's new corporate campus is expected to be located in the soon-to-be developed$2 billion mixed-use development, known as Legacy West, near Legacy Drive and State Highway 121 in West Plano.
Candace covers commercial and residential real estate and sports business.
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