Worldwide automotive giant Toyota plans to move a significant portion of its U.S. headquarters from California to West Plano.
The company is negotiating to buy an office site in Legacy business park, where it would locate more than 4,000 workers.
The manufacturer has been in talks for months with property owners and developers in Plano, real estate brokers familiar with the project say.
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The planned relocation represents a victory for Gov. Rick Perry, who has made repeated visits to California to lure businesses to Texas with promises of lower taxes and easier regulations.
The state is already home to Toyota’s pickup plant in San Antonio and a General Motors Co. factory in Arlington. Lucy Nashed, a spokeswoman for Perry, could not be reached for comment.
The automaker won’t be the first big company Texas has poached from California.
Occidental Petroleum Corp. said in February that it was relocating from Los Angeles to Houston, making it one of about 60 companies that have moved to Texas since July 2012, according to Perry.
Toyota has more than 5,300 employees in California, most at its Torrance campus.
Torrance Mayor Frank Scotto told The Wall Street Journal that the city had been preparing for news of a move after learning there was an announcement planned Monday.
“We’ve done everything over the years to support Toyota,” he said. “But let’s face it, this decision isn’t something you make on a Friday afternoon and announce on Monday. This has been going on for a while.”
Seems like California has done everything it can to drive businesses out of the state.