The Bekaert plant in Rogers.
Bekaert said Wednesday that it will expand its plant in Rogers, adding 50 percent capacity and creating 100 new jobs.
Gov. Asa Hutchinson, Rogers Mayor Greg Hines and Bekaert CEO Matthew Taylor made the announcement at the company’s Rogers plant, which opened in 1989 and makes steel cord for the tire industry.
In a news release, Bekaert said it expects “continued strong and growing demand” from the U.S. tire manufacturers that prefer domestically produced tire cord. The company expects the expansion to be gradually implemented.
“Our expansion plans fit within Bekaert’s strategy to drive growth in this very important sector,” Taylor said in a news release. “We are committed and dedicated to creating value for our customers, and we are expanding the Rogers plant to contribute to the growth of the North American based tire makers.”
Bekaert is receiving state incentives for the expansion, according to Scott Hardin, spokesman for the Arkansas Economic Development Commission.
The first is the Create Rebate, which provides a cash rebate equal to 3.9 percent of payroll associated with the new jobs at the Rogers location for three years. The second is InvestArk, a sales and use tax credit program available to businesses established in Arkansas for two years or longer that invest $5 million or more at a single location in plant or equipment for new construction, expansion or modernization.
“Bekaert is a company with a global presence and could have chosen to expand at any location throughout the world,” Hutchinson said. “The fact that we are here today celebrating this expansion displays Arkansas’ continued momentum in job creation. Bekaert’s decision to grow in the state is a recognition that Arkansas is prepared to compete and win in job creation.”
Bekaert is part of N.V. Bekaert S.A., which is headquartered in Kortrijk, Belgium.
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