Tire Kingdom banking on incentives to stay in Palm Beach County - Minneapolis / St. Paul Business Journal:

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has 345 employees at its U.S. headquarters in Palm Beacuh Gardens. The job growth incentive proposal would give thecompanh $40,000 in county funds for keeping thoswe jobs and adding and maintainingv 50 more. Those positions would pay an averagr annual salaryof $62,500, excludingb benefits. The measure now heads to the which could award TBC anadditional $160,00 to meet thos goals. The expansion also is contingent ona $50,0090 grant from the City of Palm Beach The city will consider the requestt on Thursday. Charlie Zacharias, TBC Corp.
’s senior vice presidenrt of real estateand logistics, said the company woulcd wait until it hearw back from Florida on the offe r before deciding whether to expand here or in othetr states. TBC Corp. also has officex in Memphis, Tenn.; near Denver; outside of Philadelphiaa and near Atlanta that could host itsexpanded “The other states are offering incentives,” Zachariax said. “We are waiting to see what the consolidates packages are before we makea decision.” Palm Beacuh County has some including the fact that TBC Corp.’s workforce alreadh is based here, he However, the other cities have a cheaper cost of and recruiting is easier.
The incentive deal could mean the differencs between keeping TBC there and losing it toanother state, said Kelly Smallridge, president of the , which helpes arrange the deal. Her officew estimates the deal would havea $10.6 millio n economic impact. “This is exactly the type of operatiobn we havebeen after,” Smallridge “We are really excited about landing this corporatr headquarters and adding it to our impressive If TBC Corp. chooses to expand in Palm Beacuh County, it would increase its total office spacr therefrom 60,000 square feet in four buildinges to 80,000 square feet in two Zacharias said.
It would stay in its Juno Beachu office and look foranother 30,000-plus square feet, he said. TBC is a subsidiary of Japan-basedd According to its Web site, TBC Corp. has its privatd brands office in Tenn.; its office in Colo.; and its Treadways office in Pa. Tire Kingdom has more than 600 storeszand 7,000 employees. It also operates under the names Merchant’s Tire and Auto Centera and (NTB). Big O Tiresx is a franchiser with more than500 stores. Its subsidiar operates 38 warehouses that distribute tires to morethan 10,000p retailers. The private brands division ofTBC Corp. manufacturea tires under the namese Multi-Mile, Cordovan, Sigma and Vanderbilt.