Nike Drops Suit Against Boris Berian Nike Forced To Recall Dresses Made For Wimbledon Nike Will Maintain Sharapova Partnership Ben Simmons Signs With Nike, Considered Adidas Battle Between Nike, Under Armour Heats Up Dellavedova To Get Signature Shoe Nike Seeks To Stop Runner From Wearing New Balance Colorado, Nike Talking Apparel Deal Extension Chelsea, Nike Agree To US$87M Deal UCF Coach's Connections With Nike Reap Benefits
SBD/30/Sponsorships Advertising Marketing
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).