Tire Manufacturer to Nearly Double Capacity at Its Century-old New York Plant

URLhttps://www.thomasnet.com/insights/tire-manufactur
Sourcehttps://business.thomasnet.com
Date Published04/13/2021
Author NameAndy Szal
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Sumitomo Rubber USA
Parent companySumitomo Rubber Industries
Type of work Manufacturing
If manufacturing, is the company an OEM? Yes
Reshoring category:Foreign Direct Investment
What product(s) and/or service(s) were outsourced domestically?Manufacturing
Year reshoring announced:2021
Year reshoring implemented or to be implemented:2023
Domestically, the work will be done:In-house
Capital investment ($):122
Country(ies) from which reshored:Japan
City reshored to:Tonawanda
State(s) reshored to:NY
If relevant, work nearshored to:-
Industry(ies):Plastic & Rubber Products
Product(s) reshoredTires
What domestic positive factors made reshoring more attractive?Government Incentives
Government Incentive dollar amount:Up to $3.3 million in tax credits
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