The Texas Star Telegram is reporting that Kubota Tractor Corp. and Kubota Credit Corp. will move their headquarters from Torrance, Calif., to a 25-acre site northeast of Grapevine Mills mall on city-owned property, according to the company.

The companies, subsidiaries of Kubota Corp. in Osaka, Japan, are under contract to buy the property from Grapevine, where they plan a 200,000-square-foot research and development and corporate center, said Bob Farley, the city’s economic development director.

Initially, 345 jobs will be created, Farley said. “Clearly they have hopes of making additional expansions,” he said.

Gov. Greg Abbott said the Texas Enterprise Fund has offered a $3.8 million grant toward the $51 million project. It’s the first time Abbott has used the controversial fund since he took office in January.

The company said the move will affect 180 employees in California, all of whom will be offered positions at the new facilities.

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