The San Antonio City Council is set to vote on a $142.8 million incentive package to tempt Toyota into building a new $2 billion vehicle assembly line at its South Side plant. The proposed incentives include $122.1 million from the city and $20.7 million in help from the city’s power and water utilities.

Incentives and Job Creation

In return for the incentives, Toyota would create 2,000 full-time jobs, earning at least the county’s average annual wage of $32.46 per hour. The company is deciding where to place a new vehicle assembly line in a highly competitive selection process.

Bexar County is also scheduled to discuss its own 10-year, $55.3 million tax break proposal next week, and Southwest Independent School District has indicated its support for a break of its portion of Toyota’s property tax bill. San Antonio is expected to nominate Toyota for a Texas Enterprise Zone (TEZ) Triple Jumbo project, which could allow it to get up to $3.75 million worth of state sales and use tax refunded.

Original reporting: San Antonio, TX News (HLL/CB) — read the source article.