During the push to get Toyota to move its U.S. headquarters from California to North Carolina, North Carolina officials learned the hard way that the age old saying, ‘money can’t buy you everything,’ is also true.

According to the Charlotte Observer, North Carolina officials tried “to lure” Toyota in with the sweet deal of $107 million in incentives.

The Associated Press noted that the move would have resulted in North Carolina getting approximately 3,000 jobs, with 25% of the jobs averaging a pay of $105,000 per year.

It’s a sweet deal that North Carolina couldn’t get because it’s $107 million incentives, although golden on the surface, was not as sweet as the deal that Texas offered.

According to the Charlotte Observer, Texas successfully lured Toyota in with approximately half the incentives that North Carolina offered.

However, Sharon Decker, who is North Carolina’s Secretary of Commerce, implied that Texas’ incentives would be more than her state’s incentives.

Decker told the Charlotte Observer that her state couldn’t compete with a state like Texas which has no “personal or corporate income taxes.”

Hence, over time, Toyota would make more money in Texas because the company wouldn’t be spending money on “extra” taxes.

But, the spokesman, Mike Michaels, for Toyota’s Motor Sales U.S.S.A Inc., told the Associated Press that “incentives” weren’t the only factors that the company considered.

Michaels told the AP that Texas was a better choice because of the state’s location, low living cost, “transportation, and educational opportunities.”

Also, Toyota is a Japanese owned company and many of its executives fly back home to Japan.

And according to the Associated Press, the fact that the new headquarters in Plano, Texas is not far from the Dallas/Ft. Worth airport, where there are direct flights to and from Japan, helped as well.