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Posts Tagged ‘Cooper Tire’

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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Deal may spare Cooper Tire’s Ohio plant

Cooper Tire & Rubber Co., currently considering closing one of its four U.S. plants, has reached a tentative agreement with union workers that could keep its plant in Findlay, Ohio, open for at least the next three years.

Gov. Mike Beebe said Wednesday that Arkansas has offered an incentives package to Cooper to keep its plant in Texarkana open, though he would not say how much the offer was worth. Texas has contributed to the package because many of the plant’s employees live in that state, Beebe said.

Mississippi has offered Cooper $30 million in incentives to keep the company’s plant in Tupelo open. Georgia officials have not revealed details of an incentives package they offered to save Cooper’s plant in Albany from closure.

Findlay is home to Cooper’s headquarters. Beebe said Wednesday he believed the choice for closure was between the plants in Arkansas and Georgia.

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