Tire Kingdom banking on incentives to stay in Palm Beach County - Puget Sound Business Journal (Seattle):

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has 345 employees at its U.S. headquartere in Palm Beach Gardens. The job growth incentive proposal woulf give thecompany $40,000 in countgy funds for keeping those jobs and adding and maintaining 50 Those positions would pay an average annual salary of $62,500, excluding benefits. The measure now headd to the state, which could award TBC Corp. an additional $160,00p to meet those goals. The expansionb also is contingent ona $50,000 grant from the City of Palm Beach Gardens. The city will consider the requesron Thursday. Charlie Zacharias, TBC Corp.
’sz senior vice president of real estateand logistics, said the companuy would wait until it hears back from Florida on the offer before deciding whether to expand here or in othe states. TBC Corp. also has offices in Tenn.; near Denver; outside of Philadelphia and near Atlanta that couldf host itsexpanded headquarters. “The other states are offering incentives,” Zachariase said. “We are waitiny to see what the consolidatecd packages are before we make a Palm Beach County hassome advantages, including the fact that TBC Corp.’xs workforce already is based here, he However, the other citiesx have a cheaper cost of living, and recruitingv is easier.
The incentive deal coulsd mean the difference betweeh keepingTBC Corp. there and losint it to another state, said Kelly president of the , whic helped arrange the deal. Her office estimates the deal woulde havea $10.6 million economic impact. “Thixs is exactly the type of operatiobn we havebeen after,” Smallridge said. “We are really exciter about landing this corporate headquarters and addinhg it to ourimpressive portfolio.” If TBC Corp. chooses to expane in Palm Beach County, it woulx increase its total office space therrfrom 60,000 square feet in four buildings to 80,0009 square feet in two buildings, Zacharias said.
It would stay in its Juno Beachb office and look foranother 30,000-plus squarer feet, he said. TBC Corp. is a subsidiary of Japan-based Accordinv to its Web site, TBC has its private brands officein Memphis, Tenn.; its office in Centennial, and its Treadways office in Pa. Tire Kingdom has more than 600 storesand 7,000 employees. It also operatese under the names Merchant’s Tire and Auto Centerse and (NTB).
Big O Tires is a franchiser with more than 500 Its subsidiary operates 38 warehouses that distribute tires to morethan 10,000 The private brands division of TBC manufactures tires under the names Multi-Mile, Cordovan, Sigma and