Eastern Carolina Company Eligible For Millions In Grants

Bridgestone-Firestone in Wilson and Goodyear in Fayetteville will cash in big on 10-year grants from the state, as long as they follow the guidelines.

They are each eligible for $30 million over the 10-year period. The money will come from the job maintenance and capital development fund, or JMAC, which was created by the General Assembly in September 2007 to encourage companies to keep high-paying jobs and shell out millions for updates to keep North Carolina competitive in a global market.

The grants for Goodyear and Bridgestone are primarily to support training for workers to use new technology and equipment.

According to the North Carolina Commerce Department, a company must invest at least $200 million over six years, employ at least 2,000 employees, pass a cost-benefit test, meet wage and health insurance requirements for workers and be located in one of the state's least economically prosperous, or Tier 1, counties to be eligible for a JMAC grant.

The commerce department reports Goodyear's grant requires the company to retain 2,398 workers and invest $200 million by 2012 at its Fayetteville facility to receive the full grant amount, and Bridgestone must retain 2,083 workers and invest $200 million by 2010 at its Wilson facility to receive the full grant amount.

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  • by concerned Location: nc on Sep 19, 2008 at 08:41 AM
    I agree with your comments Chris. Fireston is one of the major employers in this state. If no help was given to this company in this time of a failing economy it would have no choice but to shut its doors and move overseas. It is not about the rich getting richer its about a man/woman working ther tails off to provide for their families and hats off to this company for trying to do everything in its power to stay open and provide them with the job to do just that!!! If that plant would shut its doors every business in NC would be affected considering they employee so many people. Without Firestone Wilson NC would not exist. So to you David stop bashing the company for honoring all the hard working people that keep the company going...and doing everything they can to keep the jobs here!!!
  • by Chris Location: Greenville on Sep 17, 2008 at 08:25 PM
    I fail to see how anyone is getting "rich" off of this. If the company invest 200 MILLION dollars into the area and retains 2,000 workers in order to receive the grant, I would say that it DOES benefit the WORKING class people that NEED the 2,000 jobs! If NC did not offer them the grant the company would GLADLY shut its doors down and move to another state that offers them incentive's to do business with them! I dont know about David, but losing 2,000 plus jobs because the state does not want to help the company out sure doesn't sound to swift to me! Do you think the owner(s) of those companies will go hungry if they shut down? How many poor people do you see owning mega sized businesses?
  • by David Location: Manteo on Sep 17, 2008 at 03:10 PM
    So for those who dont work for these companies and for those who have gotten laid off from their jobs because of the economy are just S.O.L. huh? When is this state going to look after those who doesnt have jobs and are unable to find work because of the economy? Its amazing how the rich keep getting richer while the poor are pushed to the side.!

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