TX: Kubota Tractor to Invest $35M, Create 344 Jobs in HQ Relocation | Trade and Industry Development

TX: Kubota Tractor to Invest $35M, Create 344 Jobs in HQ Relocation

May 18, 2015

Governor Greg Abbott announced that Kubota Tractor and Credit Corporations will relocate its corporate headquarters from Torrance, California to Grapevine, Texas. Kubota’s headquarters relocation is projected to create at least 344 new jobs and $51 million in capital investment in the State of Texas. A Texas Enterprise Fund (TEF) grant offer of $3.8 million has been extended to Kubota Tractor Corporation.

“I’m proud to extend a warm Texas welcome to Kubota and I know their investment in Texas will allow their company to grow, prosper and create even more jobs in the coming years,” said Governor Abbott. “Thanks to our low-tax, low-regulation environment that allows all businesses to thrive, we are able to bring job creators like Kubota to Texas. As the top state in the nation for agriculture, Kubota is sure to find fertile ground for its products and distribution network.”

“Our decision to relocate our corporate headquarters to a more central part of the U.S. was a major part of our future business strategy, but which state we would ultimately choose was not,” said Masato Yoshikawa, President & CEO, Kubota Tractor Corporation. “Texas ultimately helped make that decision easier. Their business friendly climate, state incentives and geographical location were important factors in our final decision.”

The City of Grapevine and the Dallas Regional Chamber partnered with the Office of the Governor to facilitate state and local support for Kubota’s relocation.

“The City of Grapevine is proud to partner with the State of Texas and Kubota Tractor Corporation by welcoming Kubota’s new corporate headquarters to Grapevine,” said Grapevine Mayor William D. Tate. “Kubota’s history and products complement the heritage of our community, and this partnership marks an important milestone in the continued development of the City of Grapevine.”

“The Dallas Regional Chamber is excited to welcome Kubota Tractor Corporation to our region. Governor Abbott, Lieutenant Governor Patrick, Speaker Straus and their teams demonstrated real leadership throughout this process, and proved they are absolutely committed to Texas remaining the number one state in the nation to do business and to continuing to attract top-notch companies,” added Dallas Regional Chamber President & CEO Dale Petroskey.

Construction on Kubota’s Grapevine facility will begin this year and is scheduled to be completed by the first quarter of 2017. The company currently has a facility in Fort Worth that employs approximately 100 workers. The TEF offer is contingent upon final execution of the contract between TEF and Kubota and upon Kubota meeting jobs and capital investment projections, as well as the receipt of offered local incentives.

Kubota Tractor Corporation is the U.S. marketer and distributor of Kubota-engineered and manufactured machinery and equipment, including a complete line of tractors of up to 170 Gross hp, performance-matched implements, compact and utility-class construction equipment, consumer lawn and garden equipment, hay tools and spreaders, commercial turf products and utility vehicles. Kubota Tractor Corporation is a U.S. subsidiary of Kubota Corporation based in Osaka, Japan.

The Texas Legislature created the TEF in 2003 and reauthorized funding in 2005, 2007, 2009, 2011 and 2013 to help attract new companies to Texas and expand existing businesses to create more jobs throughout the State. TEF projects must be approved by the governor, lieutenant governor and speaker of the House. The fund has since become one of the state's most competitive economic development tools.