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Texas Association of Builders
March/April 2016
Area Spotlight
T
oyota is on the move. With
the relocation and merging of
its New York and California
locations to a two-million square
foot, $350 million headquarters in Plano,
nearly three-quarters of the automotive
company’s 4,000 North American empl-
oyees are predicted to make the move
to the Dallas-Fort Worth area. This
migration of workers could potentially
spark North Texas’ already booming
housing market.
Although 2015 saw a record level of home
sales in North Texas, sales in 2016 are
expected to climb. Home prices are soaring
and wait times for construction have also
risen, which isn’t a bad thing. Buyers can
afford better homes and can afford to
wait for their new homes to be built. The
addition of nearly 3,000 residents to the
Dallas-Fort Worth area will only bolster
the housing market, whether they choose
to buy a house already on the market or
have a new one built. This surge of new
Welcome to Texas,
Toyota
homeowners in North Texas should occur
throughout 2017, the year Toyota expects
construction of its new headquarters to
be complete.
The new Toyota headquarters should also
bring with it new job opportunities. Of
the 4,000 current employees, only 3,000
are planning on making the move to Texas.
That leaves nearly 1,000 jobs open in the
Dallas-Fort Worth area alone. Most of the
positions will be filled by people already
living in the area, and the rest will be
filled by others who will need to take up
residence in North Texas, adding to the
housing industry spark.
“Employers are drawn to the affordability
of our region’s housing, which is why we
are one of the nation’s fastest-growing
markets," said Phil Crone, Executive
Officer of the Dallas Builders Association.
Toyota is helping to bring two very
important things to North Texas—jobs
and people, whose addition can only
impact the area in a positive way. It
remains to be seen if the coming years can
match the success the housing market has
seen in 2015, though it is safe to say that
Toyota is welcome in Texas.
By Alex Kocina
TOYOTA
Welcome to Texas,
“Homes are where
the jobs sleep at
night, so certainly the
Toyota relocation to
North Texas bodes
very well for the
housing industry.”
–
Phil Crone, Executive Officer of
the Dallas Builders Association