Toyota To Realize Huge Savings by Locating in San Antonio EZ
San Antonio, Texas, EZ
On February 5, 2003, Toyota announced its choice of the San Antonio EZ as the place to build its sixth North American vehicle assembly plant. Toyota Motor Manufacturing, Texas, Inc., will build approximately 150,000 Tundra full-size trucks annually at the new facility beginning in 2006. The new plant represents an $800 million investment by Toyota and is expected to generate approximately 2,000 new high-wage jobs in the San Antonio area, many for EZ residents.
Suppliers will add another 1,000 jobs and generate at least $100 million in building and equipment investments.
The substantial tax savings that are associated with the hiring of EZ residents was the catalyst for Toyota's decision. If only 1 in 20 of the positions projected to be created by the Toyota plant and supplier activities is filled by an EZ resident, the employers could realize up to $450,000 in tax savings annually.
Toyota is also developing a reputation in the city as an exemplary corporate citizen. So far, the company has made donations totaling half a million dollars to five San Antonio nonprofits to help support economic development, college scholarships, parenting and early childhood development programs, education, and medical services.
Mayor Ed Garza commented that Toyota is "creating a transformation in our community. The Southside will be the center of investment with new neighborhoods and commercial development, and the Toyota plant will be at the core of that growth." Fujio Cho, president and CEO of Toyota Motor Corporation, said of San Antonio, "Besides being a great place to live and work, San Antonio is a city of the future. Located in an important corridor for North American trade, it will undoubtedly serve as a vital link tomorrow for businesses all around the world."
For more information on the programs of the San Antonio EZ, contact Economic Development Manager Barbara Ankamah at (210) 207-8162, or visit the EZ Web site at www.sanantonio.gov/edd/empowersa.asp.