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.

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