Bexar County to discuss incentive for Toyota's $531 million expansion

by SBG San Antonio Staff Reports Bexar County Commissioners will meet on Tuesday to discuss a potential incentive package for Toyota Motor Manufacturing Texas. The automaker is planning a significant investment in its San Antonio plant, valued at $531.7 million.

SAN ANTONIO - Bexar County Commissioners will meet on Tuesday to discuss a potential incentive package for Toyota Motor Manufacturing Texas. The automaker is planning a significant investment in its San Antonio plant, valued at $531.7 million. "As stated in the public notice, TMMTX is seeking tax abatements for a potential project totaling $531,720,000, located on our property. We are constantly evaluating our competitiveness and making decisions to support the potential for continued investments across our North American operations, helping to ensure our promise of long-term employment stability. We are always looking for ways to better meet our customers’ needs and produce where we sell.

This expansion includes the construction of a new facility and the potential enlargement of the existing plant, adding over 500,000 square feet of space. The project is estimated to create 41 new jobs with a starting hourly wage of $20.54, translating to an average annual salary of $68,245. If approved by the commissioners, county officials can move forward with negotiating an economic development package worth over $14 million to support Toyota's expansion plans.

Source: Car News Wire (carnewswire.net)

Bexar County Expansion Incentive San Antonio Investment Tax Abatements Economic Development

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