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Posts Tagged ‘Arkansas Economic Development Commission’

Cooper plant to stay open in Texarkana

An Arkansas Economic Development Commission spokesman says $2 million from the governor’s “quick action” fund is part of an incentive package given to Cooper Tire & Rubber Co. to keep the Texarkana plant open.

The company announced today that it is closing its plant in Albany, Ga., and that the Texarkana plant, which employs about 1,400, will remain open. Additional employees are expected to be hired at the Texarkana plant over the next few years.

Along with the $2 million, other incentives given to the company by the state are a sales tax credit of 6.5 percent on capital investment, a 2 percent income tax credit for new employees only for five years and a 5 percent rebate for 10 years of payroll for new employees only.

The city of Texarkana and the state of Texas also offered incentives to the company to keep the plant open.

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