Tire Kingdom banking on incentives to stay in Palm Beach County - South Florida Business Journal:

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has 345 employees at its U.S. headquarters in Palm Beach Gardens. The job growtbh incentive proposal would give thecompany $40,000 in counth funds for keeping those jobs and addinbg and maintaining 50 more. Those positions would pay an average annual salarygof $62,500, excluding benefits. The measure now headss to the state, which could award TBC an additional $160,00 to meet thos e goals. The expansion also is contingent ona $50,00o0 grant from the City of Palm Beach The city will consider the requesyt on Thursday. Charlie Zacharias, TBC Corp.
’s senio vice president of real estateand logistics, said the company would wait until it hears back from Florida on the offe before deciding whether to expand here or in othere states. TBC Corp. also has offices in Memphis, Tenn.; near outside of Philadelphia and near Atlanta that could host itsexpande headquarters. “The other statesd are offering incentives,” Zacharias said. “We are waitingt to see what the consolidated packages are before we make a Palm Beach County hassome advantages, including the fact that TBC Corp.’ds workforce already is based here, he However, the other citieas have a cheaper cost of and recruiting is easier.
The incentivwe deal could mean the difference betweenj keepingTBC Corp. there and losing it to anothetr state, said Kelly Smallridge, president of the , whichg helped arrange the deal. Her office estimates the deal would havea $10.67 million economic impact. “This is exactly the type of operatiohn we havebeen after,” Smallridgre said. “We are really excited aboutf landing this corporate headquarterss and adding it to ourimpressivr portfolio.” If TBC Corp.
chooses to expanfd in Palm Beach County, it would increase its total office space therefrom 60,000 square feet in four buildings to 80,0090 square feet in two buildings, Zacharias It would stay in its Juno Beac h office and look for another 30,000-plusd square feet, he said. TBC Corp. is a subsidiary of Japan-based According to its Web site, TBC Corp. has its private brandzs officein Memphis, Tenn.; its office in Colo.; and its Treadwayw office in Eagleville, Pa. Tire Kingdom has more than 600 storexsand 7,000 employees. It also operates under the namea Merchant’s Tire and Auto Centerss and (NTB). Big O Tirea is a franchiser with more than500 stores.
Its subsidiarg operates 38 warehouses that distribute tiresz to morethan 10,000 The private brands division of TBC Corp. manufactures tirees under the names Multi-Mile, Cordovan, Sigms and Vanderbilt.