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TBC CORPORATION TO EXPAND IN PALM BEACH, ADD 175 JOBS
Tallahassee, Fla. – Palm Beach Gardens-based TBC Corporation (TBC), one of the nation’s largest marketers of automotive replacement tires, will expand its headquarters in Florida. This expansion project – a $12 million capital investment – will produce 175 new jobs.
The expansion follows the company’s recent acquisition of Midas Inc., a long-time worldwide leader in the automotive services industry. Midas is based in Itasca, Illinois, and TBC selected Florida over the Illinois site for this relocation project, which also retains 120 of TBC’s Florida employees.
“This is our second Palm Beach Gardens expansion in the past three years,” said Larry Day, president and CEO of TBC. “Not only does this growth allow us to serve our customers efficiently and effectively, it opens career opportunities in the tire and automotive services retail industry, as well as wholesale.”
TBC’s continuing investment in Florida through this project marks a significant economic development win for the state.
“It’s a powerful example of Florida’s ability to provide the foundation companies need as a base for their operations, one that enables them to grow and better serve their customers,” said Governor Rick Scott. “I am especially pleased that our strong economic development partnerships on the state and local levels helped TBC reach this milestone.” Principal partners included the City of Palm Beach Gardens, Enterprise Florida Inc. and the Business Development Board of Palm Beach County.
TBC’s expansion is a “win-win” for the residents and businesses of Palm Beach Gardens, Palm Beach County and the state of Florida, said David Levy, mayor of Palm Beach Gardens. “The city’s incentive program, utilized by the TBC Corporation in its expansion, is a significant part of our economic development policy. The program is a critical tool used in attracting, retaining, and expanding value-added employment opportunities for the City of Palm Beach Gardens. In this instance, we were able to bring 175 new positions into our community, as well as retain 120 others,” Levy explained. “On behalf of my fellow Council members, I am delighted to welcome this growing business to this very unique city.”
Kelly Smallridge, president & CEO of the Business Development Board, said, “Palm Beach County continues to charge ahead in relocating and expanding corporate headquarters. This will have a significant positive impact on our local economy.”
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