Michigan State Well Behind Michigan's Nike Deal Nike/Michigan Pact Worth $169M New Nike Ad Not "Short" On Star Power Westbrook Releases Debut Signature Shoe Hackett: UM's Nike Pact Is Nation's Most Lucrative Univ. Of Michigan Spurns Adidas For Nike Tennessee Unveils New Nike Uniforms Nike's Phil Knight Stepping Down In '16 Tennessee Ready For Nike Transition Nike Sees Sales Rise 4.8% In Q4
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TETRA STAYS ON SOLID GROUND IN THE SHOW ME STATE
Published September 30, 1994
Tetra Plastics Inc., which developed the plastic "Airsole" for Nike and is a supplier to K2 Snow Ski Inc., has announced that it will build a 220,000-square-foot plant at the Missouri Research Park and expand its R&D department. The company was flooded out last year and "had plenty of reason to join Nike" in Oregon, but "incentives from Missouri's Department of Economic Development were crucial to Tetra's decision" to stay in Missouri. State aid included $263,000 in investment and job creation task credits, and $750,000 to build a new highway interchange. The company will also save $600,000 in utility charges over five years, and is exempt from real estate taxes. Tetra expects sales of $37M this year and "has 23 new products under development just for Nike, which accounts for 55 percent of the company's sales" (Fred Faust, ST. LOUIS POST DISPATCH, 9/30).