Bartow County and the state jointly packaged an $8-million economic incentives offer to the Cypress, CA-based firm, a subsidiary of its Osaka-based parent. The state is also offering $1,750 in tax credits for each of the 900 additional jobs expected to be created in future plant expansions. Five other Southeastern states were bidding for Toyo's business, local industrial brokers familiar with the project tell GlobeSt.com.
The plant is expected to produce two million tires a year after its assembly line starts up in 2006, according to state officials. Toyo's initial workforce will be about 350. The plant site is on US 441, about four miles east of Interstate 75, outside this town of 693 residents.
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