Bolder gets Incentives for Terre Haute Plant
The Terre Haute City Council has approved two tax abatements for Bolder Industries which is setting up shop in the city. Bolder Industries Inc. is investing $40 million to establish a used tyre recycling operation at the former Pyrolyx USA facility.
The council approved both a personal and property tax abatement for the project, each of which will last for 10 years.
Bolder Industries set out detailed plans for the project in December 2021. The original plans claimed up to 40 new jobs by the time the plant is operational in 2023. However, there are suggestions that the number could rise to up to 60.
“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,” Council President Cheryl Loudermilk said.
Bolder takes end-of-life tyres and converts them into sustainable raw materials used by the rubber, plastic, and petrochemical industries. As part of its recovery process, 98% of the tyre’s materials are utilised and 75% of the solids and liquids make their way back into new tyres, manufactured rubber goods, and plastics.