Local Government to Invest in Goodyear Power Facility

It was announced yesterday Goodyear Tire & Rubber Co. will get an $18 million cash infusion from local government to help modernize its Akron, Ohio, power plant.According to the Akron Beacon Journal, this will be the first major upgrade to the 80-year-old power system in more than a decade. The power plant uses coal to heat boilers that generate steam power for Goodyear's nearby buildings. The oldest parts of the plant date to the 1920s, when it was built to supply power to Goodyear's local tire factories.

AKRON, OH — It was announced yesterday Goodyear Tire & Rubber Co. will get an $18 million cash infusion from local government to help modernize its Akron, Ohio, power plant.

According to the Akron Beacon Journal, this will be the first major upgrade to the 80-year-old power system in more than a decade. The power plant uses coal to heat boilers that generate steam power for Goodyear’s nearby buildings. The oldest parts of the plant date to the 1920s, when it was built to supply power to Goodyear’s local tire factories.

The project is being completely financed by public money from the city of Akron, the Summit County Port Authority, the Cuyahoga County Port Authority and the state of Ohio.

The project will not create any new jobs or physical expansions, however the upgrade is expected to lower the company’s utility costs by up to 25 percent, according to one published report.

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