Chinese Made Tires- Foreign Investment with Georgia Tire Company
Sentury Tire, a Chinese based tire manufacturer, is building a world class factory in Georgia, covering 450 acres in LaGrange. Once the factory is complete they hope to have three shifts a day with more than 100 workers on each shift, 100 specific maintenance positions, manual logistics employees, sales staff, as well as their own R&D center with 100 employees.
This new facility will present many opportunities for Sentury Tire North America (STNA), who are planning to optimize their manufacturing process and use new technology to streamline production. STNA plans to build and purchase 24 new machines for the factory and are keen on claiming R&D tax credits to help fund future technology acquisitions. They are also looking at different methods to minimize shipping costs and packaging time. These activities present opportunities to claim R&D tax credits, which can be used to provide further funding for development.
If you would like to find out how your company could benefit from R&D tax credits, contact a Swanson Reed R&D Tax Advisor today.
