Toyota was awarded nearly $40 million in local subsidies this week — with no questions asked by the elected officials. San Antonio City Council on Thursday unanimously, and without any discussion, approved a $24.4 million subsidy package for a $531.7 million expansion of the automaker’s South Side manufacturing plant. Toyota Motor Manufacturing Texas Inc. President Susann Kazunas was in council chambers, but she did not address the council about the package the company sought.
Toyota racks up record profit, but earnings to decline this year as it invests in tech, suppliers Combined, the city and county packages exceed the $26 million in subsidies they gave this spring to JCB Manufacturing, a British maker of construction and agricultural equipment that is building a 720,000-square-foot factory on the South Side close to the Toyota plant. JCB initially valued that project at $269 million.
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