GM Financial has made an important decision regarding where it will plant its roots for its new servicing center.
The exclusive provider of General Motors leases has selected the Lone Star state for its new operations, specifically, San Antonio, Texas. The new arm of GM Financial has a goal to” [expand] our workforce and service capacity in a strong and vibrant employment market,” GM Financial CEO Dan Berce said in a statement.
GM Financial selected Texas due to its abundant local workforce, and a timezone that lends itself to helping customers across the United States. The city, county and state also offered up healthy incentives to sway the decision, including $2.5 million from the Texas Enterprise Fund.
According to Automotive News, the financial arm of GM wants to continue to increase its share of loans to customers in 2016 from the 900,000 customers it currently houses from deals just this year.
The company expects to be working out of its 100,000 square-foot facility by the first quarter of 2017, and plans to hire 490 employees initially. 700 additional positions may open up over time.