South Korea-Based Hankook Tire & Technology Expands Clarksville, Tennessee, Operations
The company will complete its Phase Two expansion in order to double its production of passenger car and light truck (PC/LT) tires while simultaneously conducting its Phase Three expansion to add its first U.S. production line of Truck Bus and Radial (TBR) tires.
“The investment in our Tennessee plant further demonstrates Hankook’s growing presence in the U.S. and commitment to serving our customers. Through a focus on sustainable construction and innovative manufacturing, the new phase of our Tennessee plant will provide an effective local-to-local supply chain to more effectively fulfill customer demand. Additionally, we are extremely proud to continue to support the local economy by bringing nearly 400 new jobs to the Clarksville area,” said Sooil Lee, CEO, Hankook Tire & Technology and president, Hankook Tire America Corp.
Located off International Boulevard, the more than two-million-square-foot tire plant will house Hankook’s production, warehousing, building, equipment and utilities. Production will begin by the final quarter of 2024, reaching full capacity by early 2026.
“As a leader across the Southeast in the automotive and manufacturing industries, we are proud to partner with Hankook Tire as the company invests $612 million in its third major expansion in Clarksville. We appreciate the company’s continued commitment to Tennessee and believe Montgomery County will continue to amplify Hankook Tire’s success in the years to come.” added TNECD Commissioner Stuart McWhorter.
Founded in 1941 and globally headquartered in South Korea, Hankook Tire has been a part of the U.S. tire market since 1981. In 2016, Hankook Tire America Corp. relocated its North American headquarters to Nashville, Tennessee, following the company’s decision to locate a state-of-the-art manufacturing facility in Clarksville.
2023 Top States for Doing Business Meet the Needs of Site Selectors
The Rise of Mid-Size U.S. Cities: The Industrial Development Boom
Front Line: Brownfields Offer Redevelopment Opportunities
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
2023 Top States Workforce Development Programs
Immigration: A Potential Fix for Labor Shortages?
Workforce Q4 2023