Toyota reaches $1 billion milestone for move into new Plano headquarters
Two years ago, Toyota Motor Co. (NYSE: TM) unveiled plans to establish the company's new North American headquarters in Plano, which will ultimately bring its 4,000 U.S. employees to North Texas on a campus-style environment.
Ultimately, the headquarters will give the Japanese automaker the ability to better serve its customers and position Toyota for long-term growth.
Twin six-story buildings. East 1 and West 1, face Headquarters Drive and serve as the main buildings with five more being built behind them on Toyota North America's 100-acre corporate campus in West Plano. JAKE DEAN
"We've been operating across the United States with manufacturing in Kentucky and a sales department in California," Cheryl Hughes, Toyota's vice president of human resources, told the Dallas Business Journal.
"Our senior management made the decision to come together and work together in one location to be more effective," said Hughes, who moved from California to Plano in August 2014.
Toyota officials estimate the One Toyota move — getting all 4,000 U.S. Toyota employees under one roof — will cost more than $1 billion, which includes developing the multi-building, 100-acre corporate campus and relocating employees from Kentucky, New York and California.
Toyota North America CEO Jim Lentz said as many as 75 percent of Toyota's existing workforce is expected to relocate from Toyota's three separate North American headquarters for manufacturing, sales and marketing, and corporate operations.
Hughes said she didn't have a better estimate on those workers relocating to North Texas.
So far, Toyota has about 500 employees working in temporary offices in Plano, which were recently expanded to accommodate additional relocating employees.
"We decided we needed a little bit more room and expanded at The Campus at Legacy," Hughes told me. "We expect to have 800 or so employees by the end of the year." Show Full Story