The Rome-Floyd County Development Authority unanimously approved a $1.2 billion bond agreement this week, clearing the way for a major Pirelli expansion expected to bring 1,000 new jobs to Floyd County.
The approval concludes nearly three years of negotiations.
The project will add advanced robotics and traditional manufacturing equipment to Pirelli’s operations. Most hiring is expected to begin in 2029, with the expanded facility projected to reach full operation by 2033.
Under the agreement, the development authority will issue the bonds, but Pirelli will be responsible for repaying them.
Authority attorney Andy Davis addressed questions about the company’s tax obligations, estimating Pirelli will pay more than $100 million in taxes through the agreement. The PILOT (payments in lieu of taxes) arrangement gradually increases the company’s property tax payments, reaching 100% after 15 years. Pirelli will also pay 50% of its fire and solid waste taxes during the agreement before transitioning to full payments.
Development authority President Matthew Thomas said the PILOT structure was requested by Pirelli as part of the deal.
Board Chair Jimmy Byars welcomed the company’s decision to continue investing in Floyd County, calling the expansion a major opportunity for the community.
