Yokohama Tire Corporation will establish a Technical Development Center in Concord, North Carolina. The company will invest nearly $2.7 million on the Center over a period of three years, creating up to 56 jobs in Cabarrus County.

“The establishment of the Yokohama Technical Development Center in North Carolina is yet another testament to our commitment to the North American market,” said Tetsuya Kuze, Vice President of Yokohama Corporation of North America, a wholly-owned subsidiary of YRC and which oversees all Yokohama-related operations in North America including sales and marketing, manufacturing, technical development, long-term corporate planning and investment. “With a Technical Center in the United States, we accelerate our ability to deliver new tire products to both the original equipment and replacement tire markets.”

Kuze added, “After extensive research for the ideal location to consolidate our R&D activities, we found North Carolina to have the perfect combination of a high quality workforce and close proximity to a major international airport.”

Yokohama Tire Corporation is the North American manufacturing and marketing arm of Tokyo, Japan-based The Yokohama Rubber Co., Ltd. (YRC), a global manufacturing and sales company of premium tires. These tires include passenger cars and light trucks, commercial truck and bus and off-the-road mining and construction equipment. The Technical Development Center will employ engineers, technicians, management staff and others.

“North Carolina’s leadership in motorsports and automotive components are helping bring great jobs to North Carolina,” said Governor  Pat McCrory. “Yokohama Tire Corporation’s new Technical Development Center will build on skills and expertise few destinations anywhere can match.”

Yokohama Tire Corporation’s arrival in North Carolina was facilitated in part by a performance-based grant of up to $150,000 from the One North Carolina Fund. The One NC Fund provides financial assistance in support of local governments in creating jobs and attracting economic investment. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants are contingent upon a local government match.

In addition to North Carolina Commerce and EDPNC, other key partners in the project include the North Carolina General Assembly, North Carolina Community College System, City of Concord, Cabarrus County and Charlotte Regional Partnership.