Goodyear Union City TN ~ Are You Reading ?

OK City OKs Expansion Funds for Michelin Plant
December 22, 2010

Ardmore, Okla., city commissioners gave the thumbs up to Ardmore Development Authority request Monday to borrow money to aid expansion at the Michelin North America tire plant in the city. The plan is for the Ardmore Development Authority to borrow $60 million, purchase the equipment and improvements MNA desires, and then lease them back to MNA. “The loan is non-recourse to the city and the ADA, so neither is at risk,” said ADA President and CEO Wes Stucky. “This provides some tax advantages to the company and helps keep our plant competitive.”

Editorial : I hope that Goodyear Union City is aware of this ? If not ? Why not ? Thanks to Mike Stanley for this one !