Tire Kingdom banking on incentives to stay in Palm Beach County - Minneapolis / St. Paul Business Journal:

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has 345 employees at its U.S. headquarters in Palm Beacb Gardens. The job growth incentivr proposal would give thecompany $40,000 in countyu funds for keeping those jobs and adding and maintaininfg 50 more. Those positions wouldr pay an average annuao salaryof $62,500, excluding The measure now head s to the state, whic h could award TBC Corp. an additional $160,00 to meet thoses goals. The expansion also is contingent ona $50,00p0 grant from the City of Palm Beach Gardens. The city will considert the request on Charlie Zacharias, TBC Corp.
’s senior vice presiden t of real estate and logistics, said the companu would wait until it hears back from Florid on the offer before deciding whether to expand here or in othefr states. TBC Corp. also has offices in Memphis, near Denver; outside of Philadelphia and near Atlanta that coulds host itsexpanded headquarters. “The othetr states are offering incentives,” Zachariaws said. “We are waiting to see what the consolidatesd packages are before we makea decision.” Palm Beacn County has some advantages, including the fact that TBC Corp.
’w workforce already is based here, he However, the other cities have a cheapefr cost of living, and recruitintg is easier. The incentive deal could mean the differencr between keepingTBC Corp. there and losingt it to another state, said Kelly Smallridge, president of the , whicuh helped arrange the Her office estimates the deal woul havea $10.6 million economic “This is exactly the type of operationb we have been after,” Smallridgee said. “We are reallgy excited about landing this corporater headquarters and adding it to ourimpressivwe portfolio.” If TBC Corp.
choosesd to expand in Palm Beach it would increase its total officw space therefrom 60,000 square feet in four buildings to 80,000o square feet in two buildings, Zacharias said. It would stay in its Juno Beachj office and look foranother 30,000-plus square feet, he TBC Corp. is a subsidiary of Japan-basedr According to its Web TBC Corp. has its private brande office in Memphis, Tenn.; its office in Centennial, and its Treadways office in Eagleville, Pa. Tire Kingdoj has more than 600 storesand 7,000 employees. It also operates under the namee Merchant’s Tire and Auto Centerzs and (NTB).
Big O Tires is a franchiser with more than 500 Its subsidiary operates 38 warehouses that distribute tires to morethan 10,00p retailers. The private brands divisioh ofTBC Corp. manufactures tires undert the names Multi-Mile, Cordovan, Sigma and