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Bexar County accepts incentive package application to expand Takata plant

Takata Plant

Takata Manufacturing Plant

Bexar County commissioners voted to accept an incentive package application that is worth roughly $390,000 over six years and would allow Takata Seat Belts to expand its manufacturing plant in northwest San Antonio.

Takata is seeking to expand its facility at 4611 Wiseman Boulevard in far northwest San Antonio.

The Commissioners Court met late Tuesday morning to discuss the company’s incentive package application, which includes a 75 percent real and personal property tax abatement for the next six years. Commissioners voted to accept the application giving the Bexar County Economic Development Department the authority to negotiate with Takata.

Takata employs 349 people, and the expansion will add 70 jobs with an average salary of $49,504, according to the Bexar County Economic Development Department.

The seat belt and air bag manufacturing company plans to invest at least $30.3 million toward expanding the plant, which is scalable for future expansions. Even after the tax abatement, Bexar County Economic Development officials reported that Takata will generate $405,681 in tax revenue over the next six years.

Takata is one of the suppliers to the Toyota plant in south San Antonio.

The plant expansion comes in the wake of a scandal over faulty airbags that caused several deaths and prompted the largest auto safety recall in American history.

Click to read entire article: Bexar County accepts incentive package application to expand Takata plant (San Antonio Business Journal, 06-02-15)


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