AKRON (May 25) — A proposed $125 million investment in Goodyear´s Gadsden, Ala., plant received local tax abatement approval, though the tire maker has not formally decided to go ahead with the investment.
A Goodyear spokeswoman said the funds would be used for new equipment and other items to modernize the facility. She said the firm has not yet announced any specific investments that are part of the contract with the United Steelworkers, which calls for investments of $550 million in union-represented plants through the life of the contract.
The Akron-based tire maker proposed $125 million in an application for the tax abatements.
The Gadsden plant is covered by the U.S. master contract with the USW and was involved in last year´s three-month strike against Goodyear.