RALEIGH, N.C. — A Chinese tiremaker is moving more aggressively into the U.S. market, announcing plans Tuesday for a North Carolina factory that is to eventually employ 800 and produce six million tires a year.
A state committee that administers large corporate tax breaks approved plans to coax Triangle Tire to rural Edgecombe County, about 65 miles (100 kilometers) east of the state capital of Raleigh. The $580 million plant is the first in the United States for the Weihai, a China-based maker of tires for passenger vehicles, trucks and buses and heavy equipment.
“We expect that this will provide a huge boost in brand awareness and interest in our products as we continue to expand our presence in the U.S.,” Manny Cicero, CEO of the company’s Triangle Tire USA subsidiary, said in a statement.
Triangle Tire could get up to $152 million in state and local tax breaks, worker training and other incentives if it meets hiring targets. The jobs are projected to pay an average wage of $56,450 a year, well above a county average of $32,642. (MSN)