Topeka and Shawnee County’s JEDO board approved an incentive agreement that will help improve The Goodyear Tire & Rubber Company’s Topeka tire plant. Goodyear is one of the world’s largest tire companies, employing about 72,000 people and manufacturing its products at 57 facilities in 23 countries. The company’s Topeka plant focuses on tire production for commercial and off-highway vehicles.
Previously referred to as “Project Boomerang,” this investment is expected to result in an estimated economic impact locally of $480 million over 10 years, with Goodyear projected to make a five-year investment of $125 million and create up to 40 new full-time jobs. The performance-based JEDO incentive for this project is up to $585,000, resulting in a 713% return on investment for Topeka/Shawnee County.
“Goodyear is deeply grateful for the ongoing partnership and support of JEDO and the greater Topeka community,” said Tim Davis, manufacturing director for Goodyear-Topeka. “Our Topeka facility is integral to our operations, and this investment will help position Goodyear to continue to meet the evolving needs of our customers.”
“It feels good when JEDO has the opportunity to invest in a major local employer like Goodyear,” said JEDO chair Aaron Mays. “This company has a long history in our community and continues to impact and help grow the Topeka/Shawnee County economy. I look forward to seeing Goodyear create more well-paying jobs in the area, as they advance their local operations and serve this community for years to come.”
“It’s great to see a company like Goodyear further their investment in the Topeka area,” said Topeka Mayor Mike Padilla. “The growth of our existing employers is a key driver of local job creation. It’s exciting to see these economic wins unfold before our eyes.”
“Companies like Goodyear have contributed to the strong, diverse local economy we see today,” said Molly Howey, president of GO Topeka. “The estimated economic impact resulting from their investment is a testament to their willingness to partner with Topeka/Shawnee County, and to the strategic support JEDO incentives provide.”
If you would like more information about this topic, please contact Bob Ross at 785.234.1030 or Bob.Ross@TopekaPartnership.com.
About Greater Topeka
The Greater Topeka area in Shawnee County represents a community of 178,909 people and is located in the Greater Kansas City region. As the state capital of Kansas, Topeka is home to a dynamic employer base. Companies headquartered here include Hill’s Pet Nutrition, Advisors Excel, Security Benefit, Capitol Federal and Evergy.
About GO Topeka
GO Topeka creates county-wide economic success for all companies and citizens through implementation of an aggressive economic-development strategy that capitalizes on the unique strengths of the community. GO Topeka operates under the Greater Topeka Partnership and is the leading economic development agency in the area. For more, visit GoTopeka.com.