ANN ARBOR, Mich. - Toyota Technical Center (TTC) a division of Toyota Motor Engineering and Manufacturing North America, closed on the purchase agreement with the State of Michigan for $11 million and completed the sale for the approximately 700-acre parcel located in York Township. In April 2005, TTC contracted to purchase the property from the State of Michigan, Department of Management and Budget.

For the past 12 months, TTC has been conducting various due diligence activities in preparation to close on the property. Later this month, TTC will begin by removing existing structures formerly occupied by the State Psychiatric Hospital. The land will be remediated and construction of the first development phase will begin in the fall of 2006. TTC will build a 400,000 square foot facility to house its expanding engineering design operations and will add 400 new jobs by 2010. The capital investment is projected to be approximately $150 million.