Company Announces 20% Minority Business Targets for Texas Plant Construction
At Toyota's 14th Annual Opportunity Exchange
event held today at the Cincinnati Convention Center, the company announced
20% minority spending targets for the construction of their new plant in San
Antonio, Toyota Motor Manufacturing, Texas, Inc. (TMMTX).
Toyota's Opportunity Exchange, now in its 14th year, is a forum designed to
provide minority business enterprises (MBEs) across the nation the chance to
network and develop relationships with over 250 of Toyota's suppliers. Toyota's
Tier I suppliers, those who supply parts directly to Toyota, attend the event
as exhibitors for the purpose of doing more business with minority-owned companies.
Toyota estimates that representatives from more than 600 MBEs to attended this
year's event.
"Opportunity Exchange reaffirms Toyota's commitment to diversity,"
said T. Williams, supplier diversity manager for Toyota Motor Manufacturing
North America, Inc. (TMMNA). "Our goal is to provide a forum for the creation
of successful partnerships - for MBEs, for Tier I suppliers, and for Toyota."
During the luncheon meeting, TMMNA senior vice president, Dennis Cuneo announced
the company's 20% minority (ethnic minority and women-owned businesses) target
for the design and construction phase of TMMTX. The plant, which broke ground
last month, is slated to begin production of Tundra pick-up trucks in 2006.
When construction is complete, this project will represent an $800 million investment
by the automaker and will employ approximately 2,000 people.
"Toyota is committed to doing business with minority-owned businesses,"
said Cuneo. "Today's announcement is an example of that commitment. This
target is twice as high as our previous construction projects."
San Antonio was additionally represented at today's event as retired NBA Spurs
player David Robinson spoke to the luncheon crowd. His keynote address emphasized
the importance of developing future leaders.
Robinson founded The Carver Academy, which opened in September 2001 to serve
primarily low-income African-American and Hispanic families from San Antonio's
East Side. This faith-based elementary school is based on the principles of
leadership, discipline, initiative, and integrity.
This year, in addition to Tuesday's Opportunity Exchange event, Cincinnati-area
MBEs participated in a two-hour seminar on Monday, November 10. Toyota hosted
this forum as a way to help local MBEs get the most out of Opportunity Exchange.
It focused on the value of Tier II opportunities, MBE/Tier I success stories,
and broadening the business strategy.
Toyota currently has ten vehicle manufacturing and parts facilities in North
America, and is building three more in Baja California, Mexico; San Antonio,
Texas; and Jackson, Tennessee.
By 2006, Toyota will have the capacity to build 1.66 million cars and trucks
a year and 1.29 million engines in North America. Toyota currently employs some
34,000 people throughout North America. The company's direct investment is nearly
$14 billion with annual parts, materials, goods and services purchased from
North American suppliers totaling over $20 billion. Toyota's North American-produced
vehicles include the Avalon, Camry, Corolla, Matrix, Sienna, Solara, Sequoia,
Tacoma, Tundra, Voltz and the Lexus RX 330.
