FORT WORTH, Texas--(BUSINESS WIRE)--GENERAL MOTORS FINANCIAL COMPANY, INC. announced today that it intends to enter into an agreement with Western Securities Limited to build a financial servicing center in San Antonio, Texas, accommodating up to 700 employees, almost all of whom will be new hires.
Today, the San Antonio City Council approved the proposed incentive package recommended by the City’s Economic Development Department. This past Tuesday, the Bexar County Commissioners Court moved one step closer to approving their incentive package by authorizing Bexar County Economic Development to begin negotiation of terms. The state is expected to approve their incentive package, which is contingent on GM Financial receiving local support from the City and County.
“As GM Financial continues to grow to support General Motors, we have a strategic focus on providing best-in-class service to our customers and dealers. This additional facility will help us do that by expanding our workforce and service capacity in a strong and vibrant employment market,” said CEO Dan Berce. “We are excited to add another servicing center in the state that is home to GM Financial’s corporate headquarters and other operational facilities.”
“I’d like to welcome GM Financial’s financial and customer support operations to San Antonio,” said San Antonio Mayor Ivy R. Taylor. “Within the next four years, this project will bring a minimum of 490 full-time jobs to our city, a testament to San Antonio’s strengths in this industry area.”
The 100,000-square-foot facility is planned for construction on 13.8 acres of land off of Raymond E. Stotzer Freeway at the intersection of Westover Link and North Ellison Drive.
The San Antonio location was selected based on several factors, including a strong workforce, an ideal time zone that can service customers across the U.S., and, incentives offered by the city, county and state, including a $2.5 million state incentive from the Texas Enterprise Fund.
“Texas is proud that GM Financial has chosen San Antonio as the home of its next financial servicing center,” said Governor Abbott. “Thanks to our low-tax, low-regulation environment, GM Financial will be creating nearly 500 jobs and investing tens of millions of dollars in the Texas economy. As Governor, I will continue to pursue policies that encourage this type of investment with the goal of making Texas an even better place to live, work and raise a family.”
“We are excited that GM Financial has selected San Antonio as the home of their operations facility,” said Wayne Peacock, Chairman of the San Antonio Economic Development Foundation. “GM Financial will generate a lasting economic impact on the community by committing to add 490 new jobs, with the possibility of growing that number up to 700 over time. In fact, according to analysis conducted by Impact DataSource, the total economic output over the first 10 years of operations could reach nearly $333 million.”
Construction is targeted to begin in early 2016 and the Company plans to begin occupying the building in the first quarter of 2017.
GM Financial, which employs approximately 6,700 team members in the U.S. and Canada, also has financial servicing centers in Arlington, Texas; Chandler, Arizona; Huntersville, North Carolina; and, Peterborough, Ontario, Canada. The Company also has 18 credit centers across the U.S. and Canada, including one in San Antonio, Texas, and is headquartered in Fort Worth, Texas.
About GM Financial
General Motors Financial Company, Inc. is the captive finance company and a wholly-owned subsidiary of General Motors Company and is headquartered in Fort Worth, Texas. For more information please visit www.gmfinancial.com.