Joint Economic Development Department Awarded for Toyo Deal

The Georgia Economic Developers Association recognized for an “outstanding achievement in the location/expansion of business in Georgia” for its work with Toyo Tire, the .

Deal of the Year Awards recognize outstanding achievement in the location or expansion of new businesses in the state of Georgia that meet community economic development goals and involve significant community program support, such as financial or permitting assistance, workforce development, state financial support, etc.

Now in its fourth year of recognizing major projects, GEDA, a nonprofit association of professionals and volunteers dedicated to enhancing Georgia’s economic vitality, awards recipients in three categories based on population.

Cartersville-Bartow County received the large-county award.

In addition to 470 new jobs, Toyo’s expansion is expected to generate $910 million in capital investment, be a positive for local suppliers, and increase uses of Savannah ports and local utilities.

Toyo began in 2006 with a 900,000-square-foot facility just north of Cartersville and within two years, broke ground on 820,000-square-foot expansion,

Following the first expansion, the company’s total investment was $487 million and it employed about 700 people. Last year, additional growth brought 200 more jobs.

With the latest expansion, in five years, the company will have provided more than 1,300 jobs and a total $1.4 billion in capital investment.

“2011 brings the milestone of 175 years of manufacturing history to Bartow, going back to Jacob Stroub’s ironworks,” local Economic Development officials said in the award application. “As the economy has taken many business casualties and the community is still in the midst of years of double-digit unemployment, Toyo is making what could prove to be the largest manufacturing investment in the counties history. Moreover, jobs filled are making a difference, one family at a time.”