Gadsden Industrial Development Authority
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City OKs tax plan for Goodyear expansion

November 24th, 2015

The Gadsden City Council on Tuesday approved two tax abatements on a $30.1 million expansion at Goodyear Tire & Rubber Co.’s Gadsden plant.

Some $27.7 million will go toward new manufacturing machinery, and $2.4 million is for facility construction. Goodyear said in a press release that $17.3 million is the cost subject to sales tax.

“Basically, we’re abating $144,600 over a 10-year period, and construction abatements will be $671,095,” Bill Greene, assistant director of the Gadsden-Etowah County Industrial Development Authority, told the council.

“The sales and use tax abatements will be in place until the project is in operation,” he said. “Once it’s in operation, those abatements go away.”

By law, the abatements also are non-educational,

so education funding won’t be affected.

Construction began in September on the 7,500-square-foot expansion, and the completion date is set for next fall.

The expansion also adds new jobs to the about 1,400 already employed by

the plant.

“There are 87 new jobs with a payroll of $5,220,000,” said Greene. “Those 87 people have already been hired, and they’re in the process of training them.”

“We’re very proud to have Goodyear continue on improving their facility and staying here in Gadsden with us.”

The city also will be expanding its property as the council voted to spend $210,000 from capital funds to purchase the building and vacant lot at 220 Locust St.

The property adjoins 210 Locust St., known as 210 At The Tracks, an about 25,000-square-foot building that was donated to the city in December 2013.

The buildings are connected, and it’s expected that the new facility will be used as storage for tables, chairs and other equipment.

Administrative Assistant Shane Ellison pointed out that by fully using the space, the building’s capacity will be increased to nearly that of Convention Hall.

The deal is expected to close Dec. 1.

The council also approved a restaurant retail liquor license for Harp and Clover, 124 Court St., suites 101 and 102, and a retail beer and table wine license for Holiday Inn Express and Suites Gadsden, 106 Walker St.

By Michael Rodgers
Times Staff Writer

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Gadsden-Etowah County Industrial Development Authority
Gadsden-Etowah County Industrial Development Authority
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One Commerce Square • Gadsden, AL 35901
Phone: 256.543.9423 • Fax: 256.547.2351
Gadsden-Etowah County Industrial Development Authority One Commerce Square, Gadsden AL 35901 Phone.256.543.9423 Fax.256.547.2351