RALEIGH, N.C. (WNCN) – A Chinese tire maker expected to create hundreds of jobs and receive millions in tax breaks has pulled out of a project in Edgecombe County.
Carolina Gateways Partnership announced Monday that Triangle Tyre notified county officials in March that it was withdrawing from a project announced in 2017.
The plan was to build a tire plant at the Kingsboro Business Park. CGP said the company was pulling out of the deal as a result of complex business issues. Company leaders decided to “re-focus on business needs in China,” according to CGP.
Triangle Tyre was expected to employ 800 people and produce six million tires a year. In 2017, it was reported the company could receive up to $152 million in state and local tax breaks, worker training and other incentives if it were to meet specific hiring targets.
“Though we certainly had hoped that Triangle Tyre would build in Edgecombe County, we understand their decision. We’re very excited for the new opportunities before us to create jobs at Kingsboro,” said Leonard Wiggins, chairman of the Edgecombe County Board of Commissioners.
The company has returned the site to Edgecombe County.
CGP said the 400-acre site has already attracted multiple potential projects. They said discussions are ongoing with companies interested in the site.
Site preparation was completed in anticipation of the Triangle Tyre project, according to CGP. They said this increases the value for the county and potential investors.