American Tire to Build in MortonWednesday, January 9, 2013
The Morton Economic Development Council recently announced that American Tire Distributors Inc. will build a new 120,000 square foot distribution center on Erie Street in Morton. Construction will begin as early as this spring. “This new 6 Million dollar facility will generate 40 new jobs with an annual payroll of $1.6 Million,” said Jennifer Daly, CEO for the Morton EDC. “This is an exciting and impactful project for Morton.”
Charlotte North Carolina-based American Tire is the nation’s leading distributor of tires to the replacement market. The company focuses on helping tire and wheel retail dealers effectively compete in their marketplace by offering the most complete, coast-to-coast selection of tires, wheels and related products and value-added services. American Tire Distributors employs over 3,000 employees across its nationwide distribution center network.
To assist the company with costly soil removal issues, local taxing bodies have agreed to abate 60% of American Tire’s property taxes for 2 years. The total incentive is estimated at $134,000. “American Tire will be generating over $112,000 per year in new property tax income for our community,” said Daly. “Providing this short-term abatement is a win-win for everyone. We want to thank our elected officials for helping this project to overcome a financial hurdle and commit to building in Morton.”
This is the largest construction project based on building sqaure footage planned for Morton in over a decade and the first Morton EDC announcement of 2012. “This is a significant new employer for Morton and a big boost to our local economy,” said Daly. “We are very proud to be the newest home of American Tire.”
American Tire Tax Abatement Proposal 2012.pdf 192.44 KB