Bolder Industries gets incentives for Terre Haute plant
Bolder Industries – an American renowned tire pyrolysis operator and recovered carbon black producer – has been granted two tax abatements by the Terre Haute City Council for setting up a new pyrolysis plant in the city.
Bolder Industries Inc. is investing $40 million in the former Pyrolyx USA plant to start a used tire recycling operation. The council approved both a personal and a property tax abatement for the project, each for 10 years.
In December 2021, Bolder Industries released full project plans. The initial estimates predicted up to 40 new jobs by the time the factory is operating in 2023. However, some reports say that the number could reach 60.
Council President Cheryl Loudermilk said, “With everything we have going on in our community, I think people are starting to realise and see Terre Haute and that’s what I’m excited for”.
End-of-life tires are converted into sustainable raw materials by the rubber, plastic, and petrochemical industries by Bolder Industries. 98 percent of the tire's materials are used in the recovery process, and 75 percent of the solids and liquids are recycled into new tires, manufactured rubber items, and plastics.
To read more about the Terre Haute plant, please proceed to Bolder Industries website.