TOPEKA, Kan. (March 24, 2009)—The Kansas Department of Commerce said it will provide training incentives to Goodyear that will allow the company to invest up to $250 million at its Topeka plant and retain up to 1,400 employees for 10 years.
The state announced the incentives March 20 and said the aid will be available through the Commerce Department's Investments in Major Projects and Comprehensive Training (IMPACT) program. IMPACT allows the state to issue bonds and recoup the costs from revenue generated by the company's state payroll tax.
Goodyear could receive up to $14.2 million in IMPACT funding, according to the state.
The announcement comes after Goodyear officials petitioned the Kansas legislature for financial incentives via an amendment to Senate Bill 108. The agreement eliminates the need for further legislative action.
Jobs at the Topeka factory have an average annual salary of $50,000, according to the state.
“At this time, we are only talking about a potential project at the Topeka plant and the potential for incentives from the state,” a Goodyear spokeswoman said.