Continental Tire Receives Grant from US Government of Illinois to Expand Plant

Land Tire USA (CTA) Illinois factory received a grant of $735,000 from the local government. This grant will be used to build the factory's infrastructure and create at least 440 new jobs.

In June this year, CTA announced an investment of US$ 224 million to expand its factory. After the expansion of the plant, the annual production of the tires of this plant is expected to increase by 4 million. The CTA has received US$22 million in funding from the Illinois government.

In return, CTA promised to maintain the current total number of 2,486 full-time employees in the factory within three years. Within three years, the CTA must recruit at least 440 new employees. In addition to the standard benefits, the employees' annual salary must not be less than 37,000 US dollars. After the new employees join, the CTA will ensure the maintenance of the total number of 2,930 full-time employees within five years.