Video: Cooper Tire Explores State Funding for Expansion
TUPELO, Miss. (WCBI) — Cooper Tire, in Tupelo, is seeking state money to help land a multimillion dollar upgrade to the Tupelo plant. Plant officials along with Regional economic developers met with Governor Phil Bryant Wednesday seeking 20 million dollars in state aid to help secure a 140 million dollar upgrade at the Lee County plant.
The Ohio based tire maker has already said it plans to spend that much money at one of its production facilities. The goal of the upgrades is to begin producing tires auto makers will use as standard issue on new cars. Under the proposal the state money would be pooled with 18 million dollars in local tax breaks to help secure the Cooper investment. In exchange Cooper would agree to maintain a minimum of 13 hundred jobs in Tupelo for the next decade. The company currently employs 16 hundred workers in Tupelo