Bexar County commissioners approve nearly $15 million tax incentive to expand South Side Toyota plant

BEXAR COUNTY, Texas – Bexar County Commissioners Court on Tuesday approved a tax incentive for the Toyota Motor Manufacturing Texas, Inc. (TMMTX) plant of nearly $15 million for 10 years as it plans to create more job opportunities in the area.

The plan presented to commissioners on May 21 would expand TMMTX. It would include a proposed new standalone building and expansion of existing facilities, with an anticipated building footprint of more than 500,000 square feet.

Recommended Videos

The company said it would invest $531,720,000 in the project, creating 411 new jobs with a base hourly wage of $20.54 and an average salary of $68,245 per year, according to the plan presented to commissioners.

In addition to the 100% tax abatement for 10 years, commissioners also approved the company receiving a skills development grant of up to $250,000 based on 250 new jobs paying at least $34.55 per hour, or $71,864 annually.

Commissioners unanimously approved negotiations for the plan on May 21.

After the motion passed on June 18, Susann Kazunas, president of Toyota Motor Manufacturing, Texas, Inc., spoke to commissioners about what the investment means for communities.

“This potential investment and job growth demonstrates our steadfast commitment to job stability, long-term employment, and reinvesting our profits into North America’s market and the success of our operational communities,” Kazunas said. “We’ve been in Bexar County for over 20 years, and Bexar County’s commitment to manufacturing, particularly around workforce development and infrastructure, lays the foundation for our success as demonstrated today.”

More key details about the plan were not discussed by Kazunas or the Commissioners Court on Tuesday.

Precinct 1 Commissioner Rebeca Clay-Flores, whose district encompasses the Toyota plant, shared her excitement for the expansion as it will help local communities.

“We’re really excited to support this, to expand Toyota, and continue to build a career path, not just jobs but a career path for our constituents, not only in Precinct 1 but in Bexar County,” Clay-Flores said.

Original News Source

Click here for San Antonio HOA Management