Monday, June 22, 2015
Toyota finance company chose Dallas HQ after looking at other U.S. locations
Toyota Industries Commercial Finance Inc. picked Dallas for its new headquarters after looking at potential locations in other U.S. cities.
The finance company of Japan’s Toyota Industries Corp. was set up last year and is locating its main office in the Cypress Waters development near LBJ Freeway and Belt Line Road.
The international commercial finance operation picked North Texas for the office because of the potential to increase its business and recruit workers, a spokesman for the company said. The Dallas location is also close to the company’s distributors and dealers.
“This is an incredible opportunity for our commercial finance business to benefit from all that the greater Dallas area has to offer while taking advantage of new growth channels both domestically and internationally as we create a premiere global brand in the commercial financial services industry,” Norm Creveling, president and chief operating officer of Toyota Industries Commercial Finance, said in a prepared statement. “As Toyota moves to the greater Dallas area, TICF wants to be a part of the exciting things that will be happening.
“We’ve received a warm welcome and are optimistic about our future and look forward to tapping into the great talent pool as we build our global business.”
More than 150 employees will occupy the 60,000-square-foot office when it opens at the end of this year.
Most of the company’s workers are now in Torrance, Calif.
“All employees were offered positions at the new location and a generous relocation package,” the company spokesman said.
The company handles financing of vehicles and equipment made by the nearly 90-year-old Toyota Industries, a sister company of Toyota Motor Corp.
Toyota Motor is relocating its North American headquarters from Torrance to a new campus under construction in Plano. About 5,000 people will ultimately work in the more than 2 million-square-foot office complex.
Dallas’ economic development committee voted Monday to provide an economic development grant of more than $277,000 to secure the Toyota finance operation. Toyota will rent the offices at 8951 Cypress Waters Blvd. for seven years with options for an additional 10 years of occupancy.
The company will invest $4 million in the new facility.
Steve Brown/ Dallas Morning News