Hoosier Racing Tire ramps up job openings, production in Plymouth
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Hoosier Racing Tire is moving forward with a $16.8 million investment at its Plymouth facility following the city’s approval of a seven-year personal property tax abatement. The expansion is expected to enhance production capabilities and support future growth while reaffirming the company’s commitment to the local workforce.
The new equipment includes a radial tire building machine, hydraulic press, semi-automatic lube booth, molds and other material handling tools. Hoosier Racing Tire currently employs 447 workers at the site.
Mark Spence, vice president of manufacturing, said the new equipment is designed to improve everything from safety and ergonomics to product quality and efficiency.
“These are all building blocks for our ‘Plant of the future,'” Spence continued. “To differentiate ourselves as the employer of choice in our local community.”
Though the investment focuses on retention, the company is actively recruiting for up to 40 new positions. But with the unemployment rate in Marshall County under 3%, company officials said filling these positions would be tough. Spence said the company aims to boost technician and engineering training, with the goal of raising wages and productivity.
He added that the company expects product lines like the Track Attack Pro to fuel continued growth in the radial race tire market.
The Plymouth site was selected over other Continental Tire facilities in Illinois, South Carolina, and Mississippi. Officials cited workforce strength and public sector support as deciding factors.
“The business support of the local council, the Marshall County Economic Development Corp., as well as the history and ability of those that work in the Plymouth manufacturing facility, all added up,” said Spence. “That’s why those investments are being made at this location.”
Hoosier Racing Tire sent select local employees to receive training at other Continental facilities to become familiar with the new equipment. Some team members also traveled to manufacturer sites in Germany for additional instruction. The company plans to continue building workforce skills through partnerships with regional education providers.
Greg Hildebrand, CEO of the MCEDC, said the tax break granted to Hoosier Racing Tire is the largest Plymouth has approved this year. He noted the city’s standard abatement follows a seven-year phase-in and includes annual compliance reporting to ensure commitments are met.
“If they are found to have not complied with the abatement, the organization can be held liable for the taxes that were abated,” Hildebrand said. “The $512,000 will be distributed across the taxing bodies as any tax payment would be.”