GM Breaks Ground on San Antonio Financial Servicing Center
Today in San Antonio, Texas, General Motors Financial Company broke ground on a new financial servicing center. The special ceremony was attended by several notable city, county, and state officials, including Texas Governor Greg Abbott.
“We are proud to call San Antonio the future home of our fifth Servicing Center in North America, and excited to break ground on this new facility with the support and partnership of leaders from the city of San Antonio, Bexar County and the state of Texas,” GM Financial CEO Dan Berce said at the event. “GM and GM Financial are committed to maintaining strong ties to this state, where combined we employ more than 10,000 people dedicated to building world-class vehicles and providing auto financing solutions to GM’s customers and dealers.”
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General Motors Financial Company became GM’s captive finance company in 2010, and has expanded significantly since then, now offering auto financing solutions to 16,000 dealers worldwide. The new San Antonio Servicing Center could bring up to 700 jobs to the area, and according to an analysis by Impact DataSource, potentially drive over $300 million in total economic output in its first 10 years of operation.
“Texas’ welcoming business climate of low taxes and low regulations has propelled the Lone Star State to be a leader in job creation,” Governor Abbott said. “I am proud that GM Financial has chosen San Antonio as the site of its next financial servicing center, creating nearly 500 jobs and investing tens of millions of dollars in the Texas economy. As Governor, I will continue to pursue policies that keep Texas the premier state for doing business, creating more opportunity and more jobs for Texas families.”
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Construction of GM Financial’s 100,000 square foot facility is to begin in spring of this year, and the company hopes to begin occupying the building in spring of 2017.
“GM Financial is making a meaningful investment in our community,” said Texas House Speaker Joe Straus. “These jobs will provide new opportunities for our citizens and benefit our larger economy here in San Antonio. Texas continues to be a place that invites and encourages private-sector growth.”