SAN ANTONIO - The City Council has approved a 10-year tax-abatement agreement with Toyota, officially giving the company a green light for expansion between the
WATCH NOW: We traveled the area to find out how our changing weather is impacting lakes, crops, trees, our water sources and more.The City Council has approved a 10-year tax-abatement agreement with Toyota , officially giving the company a green light for expansion between the county and the city. county and the city.
The agreement includes a 65% abatement, estimated to be just under $15 million. Additionally, the incentives feature an economic development grant agreement of $1 million and up to $800,000 in city and SAWS fees waived. The city will instead use money from the general fund to cover those fees. The total incentive package is valued at more than $16 million.
Today's approval follows yesterday's county commissioner's approval of expanding the Southside plant. The expansion will cost more than $531 million and is expected to create nearly 400 new full-time jobs.
Expansion San Antonio City Council Tax-Abatement Incentives Jobs Million
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