ERJ staff report (TB)
Indiana, Pennsylvania - Specialty Tires of America Inc. (STA) will spend $1.5 million over three years to modernise and reconfigure its Indiana headquarters plant for expanded radial tyre capacity.
The investment will help secure the jobs of 400 employees at the 97-year-old facility and create at least 40 more jobs over three years, according to Pennsylvania Gov. Tom Corbett, who disclosed that the state's Department of Community and Economic Development is providing $114,000 in funding to support the project.
STA will reconfigure 10,000 square feet of its plant in Indiana County to accommodate new equipment that will allow the company to expand its radial tyre line and produce rubber-coated steel fabric for radial tyres, the governor's office said.
â€œThis was a competitive project that could have located outside of Pennsylvania if not for our economic development efforts,â€ Corbett said. â€œThe investment made today in Specialty Tires of America will ensure that this nearly century old business will continue operating in Indiana County for many years to come.â€
STA operates a second plant in Unicoi, Tenn.
The project was coordinated by the Governor's Action Team, a group of economic development professionals who work directly with businesses that are considering locating or expanding in Pennsylvania. The team provides site selection assistance, coordinates the involvement of other state agencies as needed, and packages the appropriate economic development funding for the project, the governor's office said.
The $114,000 funding offer includes a $40,000 opportunity grant, $34,000 in job training assistance and $40,000 in job creation tax credits.
â€œThis project would not have been possible without the strong support of Gov. Corbett and the Governor's Action Team and we applaud the efforts of the state, regional and local economic development agencies that worked closely with Specialty Tires of America to make this expansion possible,â€ STA President Donald Mateer III said.
Founded in 1915 as McCreary Tire & Rubber Co., STA makes radial and bias-ply light truck, aircraft, racing, farm, OTR, industrial and specialty tyres at its two plants. It goes to market under a number of brand names, including the American Farmer, American Racer and numerous variations of the American and STA names.
From Tire Business (A Crain publication)
Press release from Pennsylvania Governor Tom Corbett