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Toyota's Texas move could boost state's economy by $7.2B in 10 years

They say everything is bigger in Texas, and apparently that includes the Toyota's effect on the economy. The giant Japanese automaker's new headquarters in Plano, TX, will add an estimated $7.2 billion to the state over the next 10 years, according to a new study commissioned by the city and cited by Bloomberg.
The benefits appear to be an absolute steal compared to the direct incentives that Plano and the state are giving Toyota. The report finds that by the time the automaker's campus is complete in 2018, it could have 3,650 full-time workers there at an average salary of $104,000. The city has prepared $6.75 million in grants, plus property tax discounts, according to Bloomberg. In addition to that, the state is offering the business $40 million in incentives from its Texas Enterprise Fund. This is still a fraction of what Toyota is estimated to bring in.
Toyota announced in April that it would move its US operations to Plano after being headquartered in California since 1957. The move affects thousands of employees from the sales and engineering divisions. The first workers will arrive there this fall, but Toyota will eventually have a whole campus in Plano by late 2017. The move is expected to save it huge amounts in taxation and offer employees a lower cost of living. Toyota North America CEO Jim Lentz also says that the Texas location puts the headquarters closer to more of the business' factories in the south. Texas certainly appears to be showing it some southern hospitality.

2019 Chicago Auto Show Special | Autoblog Podcast #570

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore and Associate Editor Reese Counts discuss the 2019 Chicago Auto Show, including the debuts of the Toyota RAV4 TRD, refreshed Toyota Tacoma, the Mazda Miata 30th Anniversary Edition and the new Subaru Legacy. We also announced our best-of-show winners. We also talk about a couple of SUVs we've had at the office, the new Mercedes-Benz G-Class and the BMW X5. Finally, we spend your money on a new, fun vehicle for winter. Autoblog Podcast #570 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2020 Volkswagen Jetta GLI 2019 Mazda Miata 30th Anniversary Edition 2020 Subaru Legacy 2019 Ram 1500 split tailgate 2019 Toyota RAV4 TRD Off-Road Chicago Auto Show Editor's Picks Mercedes-Benz G550 BMW X5 Feedback Email – Podcast@Autoblog.com Review the show on iTunes Podcasts Chicago Auto Show BMW Mazda Mercedes-Benz RAM Subaru Toyota Volkswagen Videos Original Video

Recharge Wrap-up: Japan's new hydrogen rules could help Toyota, New Delhi pollution worse than thought

The European Union is funding Fastned EV fast-charging corridors in Germany. The EU has set aside 2 million euros as part of its Trans-European Transport Networks program for Fastned to build the charging stations along major highways in Germany. The EU plans to help fund a network of 155 fast-charging stations along popular routes in Germany, Sweden, Denmark and Holland. Of those, Fastned will build 94 stations in Germany and Holland. Read more in the press release below. Revised hydrogen rules in Japan will make it easier to create hydrogen fueling infrastructure. Japan's Ministry of Economy, Trade and Industry has created guidelines allowing for liquefied hydrogen at filling stations, exceptions to required distances between precooling equipment and public facilities and less expensive materials for hydrogen storage. Toyota stands to gain from the new standards, as making fueling more readily available makes it easier to sell customers on the Mirai fuel cell vehicle. The result could be fiercer competition between Toyota and Tesla in Japan. Read more in the press release below, and at Tech In Asia. New research finds that New Delhi roads suffer from much worse pollution than the average levels recorded throughout the city. Pollution along roads is up to eight times higher than the numbers shown by urban background pollution monitors. With half of the city's population living within 300 meters of a major road, it's a major health concern. Joshua Apte of the University of Texas, Austin, recorded various pollution levels from inside vehicles in hopes of showing the difference between ground-level pollution and the lower numbers at monitoring sites. In the process, Apte found himself developing bronchitis on a quarter of his visits to the city. Read more at the Columbus Telegram. Featured Gallery 2016 Toyota Mirai View 15 Photos Related Gallery Fastned Fast Charging in Germany News Source: Fastned, Japan Ministry of Economy, Trade and Industry, Tech In Asia, Columbus TelegramImage Credit: Toyota Green Tesla Toyota Electric Hydrogen Cars recharge wrapup