Carlisle Companies Annouces New Location; Create 440 New Jobs

19 Aug, 2009

Multi-Million Dollar Capital Investment to Create Over 400 New Jobs
Tennessee Economic and Community Development Commissioner Matt Kisber congratulated the board of directors and senior leadership of Carlisle Companies of Charlotte, North Carolina on the company’s decision to locate a new manufacturing facility in Jackson, Tenn. The facility will be operated by Carlisle Tire and Wheel, a subsidiary of Carlisle Companies and will manufacture tires, inner tubes and wheels for a variety of vehicles used in the agricultural, all-terrain vehicle, golf, industrial, lawn/garden and trailer markets. The project represents a multi-million dollar investment by Carlisle Tire and Wheel and is expected to create approximately 440 new jobs. The acquisition of the new facility is subject to confirmatory due diligence and is expected to close in late September.

“The people of Tennessee are very grateful to Carlisle Tire and Wheel for the company’s investment in the Jackson community and their confidence in the workers of West Tennessee,” said Commissioner Kisber. “The close collaboration between the state of Tennessee and Team Madison County is yielding results and I’m convinced we’ll continue to see additional investment in the region.”

“The Jackson, Tennessee facility affords CTW an ideal location for our new facility, more centralized to our markets with excellent expansion opportunities,” said Carlisle Tire and Wheel President Fred Sutter. “This strategic move will strengthen CTW’s competitive advantage and maximize the benefit of our lean manufacturing system, the Carlisle Operating System, which allows us to improve our overall profitability and increase shareholder value.”

Team Madison County is a regional economic development initiative led by the Jackson Area Chamber of Commerce, the Jackson Energy Authority, the city of Jackson, Madison County and the Tennessee Department of Economic and Community Development.

“We’re thrilled to be welcoming Carlisle Tire and Wheel to the community,” said Jackson Mayor Jerry Gist. “Carlisle’s decision to locate in Jackson is a testament to the strong work ethic and great quality of life in West Tennessee.”

“We have so much to be proud of here in West Tennessee,” said Madison County Mayor Jimmy Harris. “Carlisle Tire and Wheel’s investment in our community will be a great addition to our efforts to grow the local economy.”

“Jackson Energy Authority is committed to Jackson’s continued growth,” said Danny Wheeler, president and CEO of Jackson Energy Authority. “I believe Carlisle Tire and Wheel will be a great partner to our corporate community.”

Carlisle Tire and Wheel began as a company in 1917 as a manufacturer of automotive tire inner tubes. The company survived the Great Depression and World War II and experienced strong growth in the post war period through a diversification of its product lines. Because of its investment in Tennessee, the company will qualify for a variety of statutory incentives, including FastTrack Job Training Assistance, Industrial Machinery Tax Credits and Jobs Tax Credits.

For more information about Carlisle Tire and Wheel, please go to www.carlisletire.com

About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to create higher skilled, better paying jobs for all Tennesseans. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. To find out more, go to www.tnecd.gov.