Kansas, Goodyear Announce Deal on Incentives

By: AP
By: AP

TOPEKA, Kan. (AP) _ Kansas and Goodyear Tire & Rubber Co. have struck a deal on $14.2 million in incentives to retain jobs at the company's Topeka plant.

The company and the state Department of Commerce announced their agreement Friday. The company can now take advantage of an existing program and doesn't have to seek legislative approval for new incentives.

The department agreed to issue bonds to cover the cost of retraining Goodyear employees, paying off the debt with payroll taxes collected from company workers. The incentives will allow the company to commit to $250 million in equipment upgrades.

Goodyear officials had said that without the upgrades, it might have to cut 700 jobs at the Topeka plant.

The Akron, Ohio-based company had approached House and Senate committees about enacting legislation to provide the incentives.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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