|Speculation on Goodyear continues |
|Posted: Monday, September 26, 2011 9:10 pm |
|By KEVIN BOWDEN |
Considerable speculation continues to swirl around what will become of Union City’s Goodyear plant.
Several rumors have been circulating recently throughout the local business community concerning the plant’s future.
The local tire plant has been idle since the company shut it down in early July.
“As we have said, our intention is to sell the building. We won’t provide further updates or other information until we have an agreement with a buyer,” Amy Brei, manager of manufacturing communications with Goodyear-North American Tire, stated in an email to The Messenger on Friday.
The Goodyear plant is situated on about 114 acres and the 1,976,000-square-foot building is valued at $21,974,800, according to the latest figures from the Obion County Property Assessor’s office.
In addition to the manufacturing plant, Goodyear also owns a 50-acre shooting range that is valued at $234,600 and another 18-acre lot bordered by Perry Browder Road, Mt. Zion Road and the Goodyear bypass that is valued at $274,500.
Goodyear’s Wingfoot Golf Course covers 388 acres and is valued at $1,898,200.
Combined, the total value of all the Goodyear property is $22,483,900.
Union City officials are currently in the process of annexing the Goodyear property, which would have a direct impact on the county’s property tax revenue from the property.
Based on figures from the Obion County Trustee’s office, Obion County received $248,865 from Goodyear in the 2010-11 fiscal year and an additional $350,000 from an in-lieu-of taxes payment.
There is some uncertainty about how the property values, taxation rates and in-lieu-of agreement will be affected by the plant closure. Of the $248,865 in county property taxes, $65,090 was for personal property taxes on equipment.
Published in The Messenger 9.26.11