Goodyear tire to make $200 million investment in Danville plant
- June 27, 2008
Goodyear Tire & Rubber Co. plans to invest $200 million to improve technology at its Danville plant to create more innovative commercial tires.
“Goodyear’s decision to build on its 42 years of operation in Danville and keep more than 2,200 jobs in the region is significant,” Gov. Timothy M. Kaine said in a statement today, announcing the expansion. “The facility was established in 1966 and is the city’s largest and highest-paying employer. The Danville plant has undergone 19 expansions since its opening and this additional investment and production increase is testament to the possibilities in Virginia.”
Goodyear is headquartered in Akron, Ohio. Fortune magazine named it the Most Admired Motor Vehicle Parts Company on its 2008 list of Most Trustworth Companies.
“This project not only represents the confidence we have in our Danville plant to continue to perform at the highest levels, this investment represents the faith we have in our Danville employees and the support we have enjoyed from the commonwealth and the City of Danville ,” Richard J. Kramer, Goodyear’s president of North American Tire , said in a statement. Incentives for the deal include $3 million in performance-based grants from the Virginia Investment Partnership and $1.1 million from the Tobacco Region Opportunity Funds.
Local, state and federal work-force groups helped the company develop a long-term plan to train and retrain employees in the region.