When Toyota learned the Detroit Institute of the Arts (DIA) was raising $100 million to help restore the City of Detroit, support retirees, and maintain the museum’s ability to provide its cultural collections to the public, Toyota knew it wanted to be a part of the “grand bargain.” The automaker responded with a pledge of $1 million. We at Krause Toyota Scion are not surprised.
“Detroit and the surrounding areas are vitally important to the automotive community. They deserve our support,” said Simon Nagata, president of Toyota Motor Engineering and Manufacturing, Inc.
“Together we can find solutions to help Detroit become the healthy and vibrant community that reflects the spirit of its people. This commitment is a way to demonstrate our gratitude to the people who have built this industry and support us every day.”
The “grand bargain” will allow the DIA, the State of Michigan, and various other organizations to disperse pension funds to over $800 to retirees in 20 years
“Toyota has demonstrated its commitment to Detroit and Michigan by doing its part to secure the DIA’s future while helping Detroit’s retirees,” said Eugene A. Gargaro Jr., chairman of the board for the DIA. “We are extremely grateful for Toyota’s generous support and know that it will motivate other donors and help pave the way for a bright future, both for the City of Detroit and the DIA.”