O.T. Korean tire maker comming to Tenn.

jm.

Well-known Member
Location
Dover TN
Just announced today Korean tire company building an eight million dollar plant here in Tennessee to build auto tires. Supposed to be 1500 + new jobs when finished but in the short turn will help the rock quarry and construction work. will be a lot of trucking and earth work. Flip side will be 85 acres of good land not being farmed anymore.
 
What is the name of the company? In July 2011, Goodyear sold its wire plant here in Asheboo, NC to a South Korean company named Hyosung. Hyosung in turn permanently closed the plant in December of 2012.
 
Yea those big figures get too big for me. You are right 8 hundred million. One of my friends has looked at some of the drawings the cu feet of rock going to the site was almost unbelievable .
I am like you hope it is not another Hemlock but we did get the construction work out of that monstrosity any way.
 
I sure hate to see new land disturbed to build something like this.
There are so many places abandoned that are standing that could be torn down or remodeled.
 
According to Google, it's Hankook, which I always thought was a prettty good tire. At a minimum, they get the construction money and land tax, even if no tires are ever made there.
 
Scott,

HSC was Hemlock Semi-Conductors. They were supposed to manufacture solar panels. I'm not aware of any panels that they ever actually produced, but in any event, they closed before they ever did anything significant.

Another "green" project financed by the government that went belly up.

Tom in TN
 
Don't bet on any taxes for at least 10 years. How do you think they were persuaded to come there? Too many times/almost always, they/any company, get tax breaks for at least 10 years to come and build in a community.
 
THey did that in our town for Federal Mogul which became NTN BCA bearing. No taxes for X number of years. After the years were up they closed the plant, moved elsewhere and built a new plant..
 
The electric on a job costs more than 8 million. That can't be the right number.8 million is a rich guys house not a factory.
 
They are getting 469 acres of land valued at 28.6 million dollars. It is in an industrial part that was bought by the county in 2001. Probably cause our property taxes to rise again. Ours have been going up while everyone else's are staying the same or dropping. Housing slowed in this area but it never stopped like a lot of places. Problem in this area we don't have the road structure to handle the traffic we have now. Glad to getting some jobs for those who actually want to work.
 
There was a time when worldwide, America supplied the brains, banking, engineering, design, tooling, process engineering and capital and other nations provided the cheap labor.

Now it is reversed, due to our poorly executed trade policy, and our college grads are working at Starbucks and Enterprise rent-a-car (rather than in banking, engineering, design, tooling, process engineering).

Korean engineers do not contribute much to our medicare, social security or other tax rolls.

It did not happen overnight, and it was a bi-partisan effort.
 

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