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In another big announcement, Toyota Motor Co. (NYSE: TM) has confirmed it plans to establish its new North American headquarters in suburban Dallas Texas.
As with other corporate relocations, Toyota will transfer jobs from other locations in California, Kentucky and New York.
"Ultimately, enabling greater collaboration and efficiencies across Toyota will help us become a more dynamic, innovative and successful organization in North America," said Jim Lentz, the CEO for Toyota's North American region. "This is the most significant change we've made to our North American operations in the past 50 years, and we are excited for what the future holds."
The headquarters transition will impact about 2,000 employees at Toyota Motor Sales U.S.A. Inc. in Torrance, Calif., as well as 1,000 employees at Toyota Motor Engineering & Manufacturing North America Inc. in Erlanger, Ky., and certain employees at Toyota Motor North American in New York, N.Y.
Toyota's announcement follows on the heels of other significant corporate relocations to the Dallas area, including State Farm Insurance Company.
This post was paraphrased from this Dallas Business Journal article dated April 28, 2014.
Topics: jobs, EB-5, corporate