Toyota Pulls Headquarters Out of Torrance

LOS ANGELES—Toyota Financial Services has announced plans to move its corporate headquarters from Torrance, CA, to Plano, TX, beginning in 2017. The move, which includes, manufacturing divisions along with sales and marketing, will join together the headquarters of Toyota Motor Sales, Toyota Motor Engineering & Manufacturing North America and Toyota Motor North America in one location.

The current Torrance headquarters houses 4,000 employees, who will all be offered relocation packages as part of the move. The move will also not affect Toyota’s leadership structure. All regional offices, however, will remain in their current locations, which will maintain Toyota’s strong presence in the state. Showing a commitment to maintaining that presence, Toyota also announced plans to donate an additional $10 million to local organizations, above the company’s regular donations.