PORTLAND, Ore. — Daimler Trucks North America (DTNA) gave its home town of Portland, Ore. a big boost today, announcing it will build a new headquarters there and launch a new program for area youth.

The company said it will construct a new 265,000 sq.-ft. corporate headquarters, to serve two functions: merging DTNA employees currently located in offices separated by the Willamette River, and to accommodate about 400 new positions Daimler plans to create.

The project represents a US$150 million investment from Daimler, with the new HQ expected to be completed in 2016.

“As we prepare for our future, our new headquarters building in Portland will position us for long-term business optimization and efficiencies while enhancing the employee experience in a contemporary, environmentally friendly and technically advanced facility,” said Martin Daum, president and CEO, DTNA. “We are pleased to announce these actions that underscore our ongoing commitment to the City of Portland and the state of Oregon.”

Meanwhile, DTNA is launching an Education in Motion campaign, which will provide nearly $330,000 in support to area students, through donations and mentoring programs.