Gov. Perry Praises Toyota Decision to Increase Capacity of Plant
Company Is Investing Additional $50 Million in San Antonio Facility
Gov. Rick Perry today praised the decision by Toyota Motor Manufacturing North America to invest an additional $50 million in its San Antonio plant currently under construction to allow for a 50,000 vehicle increase in overall production capacity.
"Toyota's announcement today that it is investing another $50 million in Texas is great news for our state," Perry said. "I am particularly proud to be making this announcement on the same day that my wife, First Lady Anita Perry, and Secretary of State Roger Williams are meeting with Toyota officials in Japan as part of a trade mission there. I share Toyota's commitment to the principle of 'kaizen' (continuous improvement) and look forward to many years of continued partnership with Toyota."
Toyota announced in February 2003 that it would build a truck assembly plant in San Antonio, investing $800 million in the facility and creating 2,000 new jobs. Toyota's announcement today will bring the company's total investment in San Antonio to $850 million and will give the plant total production capacity of 200,000 vehicles per year. The plant is scheduled to begin production of the Tundra full-size pick-up truck in late 2006.
Dennis Cuneo, senior vice president of Toyota Motor North America and Toyota Motor Manufacturing North America, said: "We have been extremely pleased with San Antonio and especially with the favorable business climate in Texas. The successful efforts of Governor Perry and the legislature to reform the state's workers' compensation system is a prime example of their commitment to supporting Texas businesses."
Toyota's decision to locate in Texas is having a ripple effect on the economy. In addition to the truck plant, 18 new Toyota suppliers have announced they will locate here in the state, adding 1,500 new employees to the area workforce. This will bring the total number of direct and spin-off jobs related to Toyota's expansion to 3,500 and the total capital investment to nearly $1 billion.