Photo Courtesy of: State of Tennessee
The latest development in the Tennessee Valley region’s growing automotive sector is the announcement by Hankook Tire of an investment of $800 million in the construction of its first U.S. production facility, to be located in Clarksville, Tenn.
Hankook, based in South Korea, is one of the fastest growing tire companies in the world. The plant in Clarksville will be the company’s eighth production facility, manufacturing high performance radial tires and creating 1,800 new jobs.
The automotive sector has been a major driver of post-recession recovery in the region. More than 12 percent of the state of Tennessee’s job creation since 2010 has been in the automotive sector. It accounts for more than one-third of the growth in Tennessee’s manufacturing output in that period.
“TVA is grateful and delighted that Hankook Tire, one of the fastest growing advanced manufacturers in the world, has selected Clarksville as the location for its first U.S. production facility,” TVA President and CEO Bill Johnson said. (more…)