PLYMOUTH, Ind. -- The Plymouth Common Council unanimously approved a personal property tax abatement for Hoosier Racing Tire Monday night, based on planned infrastructure improvements at the Plymouth facility that are expected to generate additional tax revenue for Marshall County. 

Hoosier Racing Tire will invest an estimated $16.8 million in new equipment as part of the expansion of its local facility.

The race tire company will be adding new tire building machinery, a hydraulic press, molds, and other manufacturing equipment. Work on the additions to the facilities is expected to begin soon.

The tax abatement will occur in a seven year phase-in schedule with the increased property value expected to generate an additional $512,749 in tax revenue for the City of Plymouth.

"Currently there are 447 employees at Hoosier Racing Tire," said President and CEO of the Marshall County Economic Development Corporation Greg Hildebrand.

"This investment will be retaining these employees and the $27 million annual payroll as the company continues to improve efficiency and productivity."

The capital expenditure in a budge refers to the funds a company or organization spends to acquire, upgrade, or maintain physical assets like property, buildings, or equipment.

Hildebrand says this investment represents almost 20 percent of the $87 million of cap expenditure that has been announced in Marshall County in 2025.

“Hoosier Racing Tire has been and continues to be a model corporate partner for Marshall County," Hildebrand said.

"Their team members and associate are engaged in the community, working with charities and events throughout the county.”