The German truck maker Daimler announced Friday, that it will build a new $150 million headquarters in Portland and add at least 400 new jobs.
What a difference a few years make.
Back in 2008, Daimler said it would close its Portland factory with a loss of 900 jobs.
But now, the company plans to build a new LEED Platinum headquarters on Swan Island with public access to the Willamette.
The announcement gave Daimler North American president, Martin Daum, a chance to do a little boasting.
"You go one minute on a North American highway and you will see a truck that was designed, planned here in that city of Portland. The driver might have Nike shoes, but you won't see them," Daum said.
The state is supporting Daimler with a $4 million package of incentives. The city is giving the company another $8 million in forgivable loans -- if the company creates at least 400 jobs.
Daimler also announced it would be donating to local schools and sponsoring the Portland Timbers.
This story originally appeared on Oregon Public Broadcasting.