Kumho Tire will use bonds to finance new Macon-Bibb facility

MACON, Georgia (41NBC/WMGT) – International tire manufacturer Kumho Tire is selling bonds to help finance the construction of its new facility in Macon-Bibb County.

Cliffard Whitby, the Chairman of the Macon-Bibb Industrial Authority, tells 41NBC the Macon-Bibb government along with the Bibb County School District approved a $600 million bond transaction in December.

Whitby says Kumho is now going to investors to try to raise $300 million. He adds this is a typical way companies finance projects.

According to Whitby, the Kumho Tire manufacturing plant is still on schedule to open in the second quarter of 2016. He says it will create 450 jobs.