GM Financial Breaks Ground on Servicing Center in San Antonio, Texas

Governor Greg Abbott joined executives of GM Financial for the ground breaking of the company’s new financial servicing center in San Antonio, TX.

GM Financial San Antonio, TX

GM Financial San Antonio, TX (photo – sanantonioedf.com)

Supported by a $2.5 million Texas Enterprise Fund (TEF) grant and additional local incentives from Bexar County and the City of San Antonio, the company is making at least $20 million in capital investment and plans to create more than 490 jobs.

General Motors Financial Company Inc. has entered into an agreement with Western Securities Limited to build a new 100,000-square-foot facility in San Antonio on 13.8 acres of land off of Raymond E. Stotzer Freeway.

The new facility will be capable of accommodating up to 700 employees, almost all of whom will be new hires. Fort Worth, TX-based GM Financial already employs 2,580 workers in the State of Texas, and has approximately 6,700 team members in the U.S. and Canada.

Governor Abbott said in a statement that “San Antonio is home of transformational technology and manufacturing, and now, the city is adding hundreds of new jobs in the growing financial services sector. I thank General Motors Financial for being such a great business partner and continuing to expand in Texas.”

At the time the project was first announced, GM Financial CEO Dan Berce had said that “We are excited to add another servicing center in the state that is home to GM Financial’s corporate headquarters and other operational facilities.”

GM Financial’s existing financial servicing centers are located in Arlington, TX; Chandler, AZ; Huntersville, NC; and, Peterborough, Ontario, Canada. The company chose the San Antonio location for their next servicing center on 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.

Apart from the $2.5 million TEF grant as a state incentive, the San Antonio City Council has approved an incentive package recommended by the City of San Antonio Economic Development Department. The Bexar County Commissioners Court is likewise providing its own package of incentives for the project.

Wayne Peacock, chairman of the San Antonio Economic Development Foundation, has said in a statement that 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,” said Peacock.

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