CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header
CBS DFW WEATHER APP: iPhone App Store | Android App Coming Soon | More Information


Toyota’s Move To Plano: $7 Billion Impact

(Photo by Eric Thayer/Getty Images)

(Photo by Eric Thayer/Getty Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

From Our CBS Music Web Sites

454116976 Toyotas Move To Plano: $7 Billion ImpactKe$sha's Scandalous Pre-VMA Selfie

452359772 10 Toyotas Move To Plano: $7 Billion ImpactBikini Model Pictures

 alt=New Survivor Cast Photos

453947324 Toyotas Move To Plano: $7 Billion ImpactIce Bucket Challenge Fail

 alt=Musicians Then And Now

cowb thumb Toyotas Move To Plano: $7 Billion ImpactCowboys Cheerleaders

PLANO (CBSDFW.COM) - Long before Toyota opens it new North American headquarters in Plano, the company will have a significant impact on the city’s bottom line. Plano city leaders approved a package at Monday night’s council meeting, including tax breaks and millions of dollars in incentives.

Grant Thornton, an accounting and consulting firm, released its analysis outlining the automaker’s $7.2 billion economic impact on the city over the next ten years. From taxes to job creation, the city will benefit by the billions from the automaker’s move to North Texas.

The report divides the timeline into three phases: start up (2014), construction (2015-2017), and headquarters opening (2018).

During the first two phases, restaurants, health-care providers, retailers, architects, engineers, IT services, and advertisers will be among those most impacted.  As many as 1,400 jobs in those industries will be created as a result of Toyota’s move to North Texas.

When it opens its new doors in 2018, Toyota is expected to employ 3,650 full time employees with an average wage of $104,000 and will hire another 1,000 people as contractors.

Click here to download the full report.

(©2014 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Latest News:

Top Trending: