04-28-2014, 11:27 AM | #1 |
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Toyota to move U.S. Corporate Headquarters from California to Texas
News reports indicate that Toyota plans to move their U.S. Corporate Headquarters from Torrance, CA to Dallas, TX. For the full report - click here
The move is reported to start this summer and be completed by the end of 2016. The move will allow Toyota to consolidate their Sales/Marketing, Finance and Manufacturing operations in one facility. Nissan bailed out of California in 2006 and despite widespread concerns that the move would cause Nissan to lose touch with the market and lose irreplaceable employees neither concern came to fruition. In my opinion California's political structure fosters a hostile position toward business and I think it's great that Toyota is simply packing up and moving to a new location. Last edited by XDCX; 05-12-2014 at 11:21 AM. Reason: Added "U.S." to make it clear that Toyota was not moving their World HQ to Texas |
04-29-2014, 01:45 PM | #2 |
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After reviewing how strong Honda's sales are in Central Ohio in this thread I have to bet the Blue Sky value of the Toyota stores in Dallas took a huge jump this week.
Toyota's move to Dallas is expected to bring at least 3,000 relatively high-paying white collar jobs to the market. Figure that most of those employees are likely married and many have kids and it's reasonable to bet there will be a boost for the entire Dallas economy as the population grows. I wonder how profitable the Employee Purchase programs are for dealers who are selling Hondas or Toyotas? I always thought the Employee Purchase programs offered by the Detroit 3 were pretty generous given the overall decline in new car gross. |
04-30-2014, 08:14 AM | #3 |
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All the mention in the press is about the jobs moving from California (Democratic Governor) (state income tax) to Texas (Republican Governor)(no state income tax). There are 1,600 jobs not mentioned moving from Erlanger, in Northern Kentucky (Democratic Governor) (state Income tax) in the consolidation of Toyota jobs. Northern Kentucky lost its international Airport in the Delta Post-Bankruptcy merger with Continental, and the HUB portion of the airport went to Detroit.
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04-30-2014, 10:48 AM | #4 | |
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I guess I'm not surprised though, I remember when Chrysler moved their headquarters from Highland Park to Auburn Hills there were a number of suppliers that moved their offices to Auburn Hills too so they could be closer to one of their biggest customers. |
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05-01-2014, 10:36 AM | #5 |
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Those 1,600 jobs are just the Toyota part of what is moving from Northern Kentucky. All the suppliers with slink out of town with no notice. Toyota actually has a Sushi restaurant here to which they immigrate (rotate)a new chef every 6 months, directly from Japan. How long with it be open?? I can not imagine less that a 3,000 job impact to this 250,000 person community of $60,000. income jobs (on total average).
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05-02-2014, 12:30 PM | #6 | |
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