April 10. Yokohama Tire Corp. will open up a tire R&D facility in 27,470 square feet of space on Bailey Road in Cornelius. It will be one of a handful of pure R&D facilities in North Meck.
”Attracting an international company’s new research and development facility to Cornelius is an outstanding economic development achievement,” said Mecklenburg County Commissioner Pat Cotham.
Yokohama will spend about $5.85 million on the Cornelius facility, which is in a 164,111 square foot building at 10414 Bailey Road. The project is being developed by Cornelius-based Legacy Pointe Properties.
The build-out for Yokohama is expected to be completed late this year or early next year, said Ryan McDaniels, executive director of Lake Norman Regional Economic Development. It will have a mix of lab and office uses.
Yokohama Tire, the North American manufacturing and marketing arm of Yokohama Rubber Co., said Cornelius is a great fit for the company, which is based in Tokyo. Tetsuya Kuze, vice president, said the proximity to the airport and the skilled workforce iwill “make this facility very successful.”
The eco-devo team behind the win included the North Carolina Community College System, the Charlotte Chamber, The Knox Group, Legacy Pointe Properties and UNC Charlotte.
Peter Zeiler, director of Mecklenburg County’s Office of Economic Development, said Yokohama will bring advanced technical and engineering jobs to Lake Norman.
The proposed facility is contingent upon approval of a Business Investment Program grant approval by the Mecklenburg County Board of Commissioners, as well as Economic Development Incentive grant approval by the Cornelius Town Board of Commissioners.
“Yokohama’s planned expansion in Cornelius is a great win for our community. This is an excellent example of how the Town has worked to add additional tax base and high-quality jobs” said Mayor Woody Washam.
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