DELPHOS — K&M Tire, a tire distributor, will be expanding its corporate offices in Delphos to deal with increased operations in New Hampshire, Maine and New York after acquiring MotoStar Tire this past fall.
The expansion will add 7,000 square feet to K&M Tire’s building at 965 Spencerville Road and will provide offices for at least 10 new sales and accounting employees to be hired over the next two years. K&M Tire, founded in 1970, currently employs 175 people.
During Thursday’s meeting of the Allen County Commissioners, the county granted a 60 percent tax abatement for 10 years on the expansion, which was requested by the company and pushed through the appropriate channels by the Allen Economic Development Group.
AEDG Project Manager Cynthia Leis said business incentives are important to keep businesses in the area, and they decrease the risk businesses take when they make major investments.
The tax abatement is available to any Allen County companies looking to add employees or invest in capital, and it can range from 50 percent to as high as 100 percent. K&M Tire requested 60 percent.
K&M Tire will begin construction of the new expansion this spring, and it is expected to be finished by the end of 2018. The cost of the expansion is estimated to be between $770,000 and $1.1 million.
Reach Josh Ellerbrock at 567-242-0398.
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