CLARKSVILLE, TN (CLARKSVILLE NOW) – Hankook Tire plans to expand its Clarksville facility in order to double annual production to 11 million tires.
According to a report by Business Korea, Hankook intends to invest an additional $90.2 million in the facility, bringing the company’s total investment in Clarksville’s economy to approximately $1 billion.
“This level of investment by Hankook in our community reflects a positive global economic outlook, and it reflects our strong work force that is able to meet the needs of their growth,” Clarksville Mayor Joe Pitts said in a statement. “As always, the City of Clarksville says thanks to Hankook for being a valuable community partner.”
Hankook announced in a recent news release that it will begin production of 23 new sizes of its all-season Ventus V2 Concept2 line, including 17- to 20-inch rim sizes. These new tires will be produced by Hankook’s Clarksville plant.
Hankook Tire opened in Clarksville in October 2017 and currently employs about 1,000 people.
The announcement continues a trend of expanded industrial development in Clarksville. On Feb. 10, Texas-based electric battery maker Microvast announced plans to construct a plant in Clarksville, bringing with it 287 jobs.