Toyota marks opening of new US headquarters in Texas

Markets Associated Press

Toyota is officially opening its new North American headquarters in Texas.

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The $1 billion project includes a new campus in Plano, outside Dallas. The Japanese automaker plans to move thousands of employees from California and Kentucky and says it will eventually employ up to 4,000 people at the Plano site — including about 1,000 new local hires.

Toyota says Texas officials will attend events Thursday to mark the move, which is part of the company's plan to bring sales, marketing, financial and other services together in one location.

Construction of the 100-acre (40-hectare) headquarters in Plano is not yet complete, but employees have been moving in since late spring. More are expected to arrive in phases through December.