Toyota announced Sept. 17 that it will invest $391 million at its San Antonio, Texas truck assembly plant. That will bring the automaker’s total investment in that plant to more than $3 billion.
Previously, Toyota announced that it planned to invest $13 billion in its U.S. operations over five years through 2021. This new investment also comes with a commitment by Toyota Texas to continue funding local workforce development, a community need the company has long championed, according to press materials released by the company. Toyota Texas’ workforce investment will involve donating $500,000 to Alamo Promise, an organization focused on ending poverty, enhancing economic and social mobility, and meeting workforce needs in San Antonio.
That wasn’t the only automotive investment announced Tuesday. Aisin AW, a supplier to Toyota Texas and other car makers, said it would invest $400 million and bring 900 new jobs to a future facility in nearby Cibolo, Texas.
“The Lone Star State continues to build on its reputation as a manufacturing powerhouse thanks to investments from innovative companies like Toyota and Aisin AW,” said Governor Greg Abbott, in the Toyota release. “Their combined new investment of nearly $800 million in the San Antonio area is a testament to Texas’ unrivaled workforce and commitment to creating an environment where businesses can thrive free from the heavy hand of government regulation and over-taxation.”
Chris Reynolds, Toyota Motor North America’s chief administrative officer of manufacturing and corporate resources, said that, “We’ve been in the U.S. for more than 60 years, creating a tremendous value chain in this country and creating an extensive footprint in the Alamo City since 2003. With 10 U.S. plants, 1,500-strong dealer network, an extensive supply chain and other operations, we directly and indirectly employ over 475,000 Americans and are committed to investing here.”
According to a study commissioned by the San Antonio Economic Development Foundation, total economic impact of these investments will surpass $10 billion with an employment multiplier of over 40,000 jobs over the next ten years for the region.
The new announcement signal’s Toyota’s third investment at its San Antonio truck plant, where the company assembles the full-size Tundra and mid-size Tacoma pickup trucks. The facility directly employs more than 3,200 team members. Including its 23 on-site suppliers, more than 7,200 people work at the plant.