GM Financial, which is expanding its campus in south Arlington, announced Thursday that it will build another servicing center in San Antonio to accommodate as many as 700 workers.
The Fort Worth-based finance arm of General Motors said construction on the 100,000-square-foot facility is expected to begin early next year and open in the first quarter of 2017.
The San Antonio City Council has aproved an incentive package for the project, which is also expected to receive tax breaks from Bexar County and a $2.5 million grant from the Texas Enterprise Fund.
In a statement, San Antonio Mayor Ivy R. Taylor said the project is expected to bring at least 490 full-time jobs to the city within four years, and Gov. Greg Abbott estimated the capital investment at more than $20 million.
“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 CEO Dan Berce in a statement.
GM Financial, long a subprime auto lender, has been in growth mode over the past year after expanding its role for the automaker by becoming its exclusive provider of lease financing and offering prime auto loans.
The San Antonio facility will become GM Financial’s fourth U.S. servicing site, in addition to centers in Arlington, Chandler, Arizona and Huntersville, North Carolina, near Charlotte. The company also has a facility in Ontario, Canada.
The servicing centers handle loan processing, customer service and collections activities. In Arlington, GM Financial has a three-building campus near Interstate 20 and South Collins Street, and is renovating a 240,000-square-foot building nearby which it acquired last year.
GM Financial, which was known as AmeriCredit before General Motors acquired the company in 2010, employs more than 2,400 workers in Tarrant County in Arlington and at its headquarters in Burnett Plaza in downtown Fort Worth.