Improvements where rubber meets the road

February 10, 2009 5:29:59 PM PST
Fayetteville's city council invested in its manufacturing base Monday with a vote to give Goodyear $1 million for factory improvements.The money is to be used to upgrade Goodyear's Fayetteville factory to help retain jobs and improve the quality of tires made there.

The city's offer is part of a bigger incentive package that includes $30 million from the state and $7 million from Cumberland County over 10 years. The deal calls for Goodyear to invest $200 million to renovate its 40-year-old factory on Ramsey Street.

Under the agreement, the city will stop making $100,000 annual payments if employment drops below 2,000 jobs at the plant.

The plant currently employs around 3,000 people.

The agreement also requires the company to complete the $200 million upgrade by the end of 2012 before any payments are made.


Load Comments