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Toyota Takes Tax Breaks To Relocate To DFW
Toyota is leaving its North American headquarters in California and officially moving to Texas.
The Plano City Council gave final approval to an economic incentive package for Toyota.
The package links nearly $7-million in grants for the construction of a headquarters in the Dallas suburb.
In turn, Plano's mayor says the project will generate more than $70-million in property and sales tax revenue for the city over a 10-year period.
The agreement will provide more than 3,500 full-time jobs by December 2018.
Toyota issued a written statement thanking the city.