‘Substantial’ Portions of Toyota HQ Relocating to Texas
Texas Governor Rick Perry has been traveling the country selling the Texas model to high-tax states in an attempt to lure corporations to the Lone Star State. On April 28, one corporation is expected to announce a move to Texas.
Businessweek is reporting that Toyota Motor Corporation will be moving a “substantial” part of its U.S. headquarters to the Plano, Texas area.
“Toyota has more than 5,300 California employees, most at its Torrance campus in sales, finance, marketing, engineering and product planning. Details on which functions will move and when may be announced as soon as today, after the employee meeting. When Nissan Motor Co. (7201) moved its North American headquarters to lower-cost Tennessee in 2006, only 42 percent of employees initially chose to relocate. The new regional sales headquarters may be in or near Plano, Texas, said three of the people who asked not to be named as the plan isn’t yet public. The majority of Toyota’s Torrance operations may move to Texas over a two-year period, the people said.”
According to KFYO-AM Lubbock, Governor Rick Perry had visited California again this past March for three days. During that trip, which was paid for by Americans for Economic Freedom, a TV and radio ad campaign bragged roughly 50 companies that had recently left California for Texas.
The anticipated announcement would add to Perry’s message about Texas being on the right track for job creation and a welcoming environment for corporations.
Chad Hasty is the host of the Chad Hasty Show on KFYO-AM Lubbock. Follow Chad on Twitter @ChadyHastyRadio