Toyota broke ground on its new North American headquarters in Plano, Texas, as it moves ahead with it plans to relocate its key corporate offices from Southern California to the Dallas Metroplex.
As part of the move, Toyota expects 10,000 employees and their families to visit Dallas during the next few months as they decide whether to move or stay in Southern California. Personnel experts expect roughly 40% of the Toyota employees in California, where the company had sunk deep roots, will elect to remain in California for personal reasons.
The Toyota project is also offering a major boost to the Texas economy, which is reeling as oil prices collapse due to an over-supply of oil around the world. Oil prices have fallen 55% since last summer after Toyota announced plans to shift its North American headquarters to Dallas.
“The support and encouragement we’ve received from the community, civic leaders, business partners and nearby corporations has been nothing short of tremendous,” said Jim Lentz, Toyota Motor North America chief executive officer.
“Our goal is to build an environmentally sustainable campus that our new neighbors will welcome and our team members and associates will be proud to call home.”
During the ground-breaking ceremony, Toyota unveiled a stylized “TOYOTA” sign in large letters, standing 10 feet tall and 64 feet wide on the company’s property in Plano. Inside each letter are native Texan Yaupon Holly trees, which represent “wish” trees, a Japanese cultural tradition.
Plano Mayor Harry LaRosiliere joined Lentz, addressing about 100 dignitaries and Toyota “Pioneers” – team members and associates who have already made the move to North Texas.
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“Today’s groundbreaking event marks another milestone for the future of Toyota and the future of the city of Plano,” he said. “Toyota has already proven to be a great corporate citizen and neighbor, and we look forward to the continued impact they will have not only on Plano but on the whole North Texas region.”
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Since announcing the relocation last April, Toyota has purchased property; hired a developer (KDC), architect (Corgan Associates) and project manager (JLL), and filed a preliminary site plan with the city.
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Corgan, which is engaged in the design process now, is a world-class firm that has designed corporate campuses and other projects, in the Dallas-Fort Worth area and around the world. The firm has already designed the temporary office space Toyota will occupy in Plano until the permanent campus is built.
You can bet the employee compensation will be significantly lower in TX than it is in CA. This is just another example of a corporation over-paying their executive level and under paying the laborer’s who create the wealth and revenue for the company. Tax payers in each state that hands these big corporations a pot of gold, pay for this unscrupulous activity.