© 2024 Ideastream Public Media

1375 Euclid Avenue, Cleveland, Ohio 44115
(216) 916-6100 | (877) 399-3307

WKSU is a public media service licensed to Kent State University and operated by Ideastream Public Media.
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
Weather-Related Closings and Delays
News
To contact us with news tips, story ideas or other related information, e-mail newsstaff@ideastream.org.

Bridgestone tax breaks approved

The Ohio Tax Credit Authority is offering Bridgestone Firestone $18 million in tax savings over 15 years if it chooses to build its new technical center in Akron. The tire company wants to move from its outdated tech center in Akron into a cutting edge new building estimated to cost more than $100 million. The tax break offered by the state is one component in a $68 million package designed to retain Bridgestone's 1000 high-paying jobs in the facility.

The company is also weighing incentives to move the tech center near its corporate headquarters in Tennessee.

Steve Schoeny is the director of strategic business investment division of the state of Ohio and says that while Bridgestone is just one employer, it has a big part of the region's economy.

SCHOENY: You can not look at something like Bridgestone Firestone, like these kind of technical jobs, like this number of jobs, like this wage, and not be concerned about losing these jobs.

Akron Mayor Don Plusquellic said in a statement that the city is doing everything it can to help the company meet its needs for a competitive and modern campus and to attract high quality talent from around the world.

Bridgestone-Firestone is expected to select a site by the end of the year.

Tags