September 18, 2019
In conjunction with Toyota Motor Corp.’s announced plan to invest $391 million in its San Antonio truck manufacturing plant, Japan-based automobile components and technology company Aisin AW greenlighted a $400 million project in the San Antonio suburb of Cibolo, TX. Aisin is a supplier of drivetrain products to Toyota.
The city of Cibolo and Guadalupe County offered Aisin AW Texas Inc. a tax-abatement agreement in return for the investment. Cibolo offered to make nearly 160 acres in its reinvestment zone available to the company for its new facility.
A new study commissioned by the San Antonio Economic Development Foundation projected that the total economic impact from the $791 million investment in the San Antonio area will surpass $10 billion and 40,000 jobs over the next 10 years.
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