GM Financial to Locate Financial Service Center in San Antonio
- Dec 22, 2015
By Anca Gagiuc, Associate Editor
SAN ANTONIO—General Motors Financial Company Inc. (GM Financial) plans to expand its operations by building a financial servicing center in San Antonio, Texas. In order to do so, the company intends to enter into an agreement with Canada-based Western Securities Ltd.
“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 GM Financial 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.”
A 100,000-square-foot facility is planned for construction on 13.8 acres off of the Raymond E. Stotzer Freeway at the intersection of Westover Link and North Ellison Drive. Construction is scheduled to begin in early 2016, with completion set for the first quarter of 2017.
“I’d like to welcome GM Financial’s financial and customer support operations to San Antonio,” said San Antonio Mayor Ivy 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 San Antonio City Council approved the proposed incentive package recommended by the City’s Economic Development Department, while the Bexar County Commissioners Court authorized Bexar County Economic Development to begin negotiation of terms. As an incentive, a Texas Enterprise Fund grant offer of $2.5 million has been extended to GM Financial.
“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.”
Image courtesy of GM