Hoosier Racing Tire is planning a $3 million capital investment for move the new product line for motocross tire manufacturing into full speed production.
John DeSalle, President of Hoosier Racing Tire told members of the Plymouth Common Council this week, that the motocross tire is one the best selling new products they have had in years.
The company has already invested half-a-million dollars to get production started and will invest another $3 million for boost production. DeSalle said they had to shut off exports to Europe and Australia because they just couldn’t keep up with the demand.
The 5-year strategic plan show production increasing from 25,000 tires to 250,000 tires, an anticipated 75,000 square foot plant expansion and the hiring of 35 to 40 additional employees.
This information was presented to the city council for a tax abatement request.
The Council took the first of two steps in the process by declaring the real estate to be within a Economic Revitalization Area. At their meeting next month, the council will conduct a public hearing on the tax abatement request.