The plan was on track until the end of 2008, when a credit squeeze halted IRG’s financing. Though the project is still in limbo, Goodyear has said it still plans to move forward.

“All the parties involved are still extremely confident and extremely committed to the program, but because of the credit crisis it has certainly slowed the progress of finalizing the agreement,” Goodyear spokesman Scott Bachman said.

The agreement included 30 million dollars in state tax breaks for Goodyear that are contingent upon it maintaining an employment level of at least 2,900 in Akron – just 200 less than the tiremaker currently employs there.

Due to a downturn in demand for tires, Goodyear recently announced it would cut nearly 7% of its global workforce of about 75,000, but would not name specific facilities that would see job losses. (Tire Review/Akron)