The Gadsden Times is reporting that Goodyear Tire intends to close its manufacturing plant in Gadsden, a move that must be approved by the local union.

“Goodyear can confirm that we have reached a tentative agreement with the United Steelworkers to permanently close our Gadsden, Alabama, manufacturing facility.” Goodyear spokesperson Melissa Monaco told the Times.

The tire plant in Gadsden has been in production for more than 90 years but has experienced layoffs and a drop in production recently. It is the oldest Goodyear plant currently in use.

Numbers provided to the Times by the local union estimate the plant’s economic impact on the Gadsden area at $1.53 billion annually between “economic stimulation, local taxes and charitable contributions.”

According to the Times, the union will begin meeting Monday to make their decision about the plant closing. The overarching contract between Goodyear and the United Steelworkers union ratified in 2017 made Gadsden one of five local plants where the local union must approve a plant closure. That master agreement expires in 2022.

Goodyear recently built a new facility in San Luis Potosi, Mexico. The Times says the facility in Mexico “can match Gadsden’s full-strength output of 6.2 million tires annually, but at significantly lower operating costs.”

Henry Thornton is a staff writer for Yellowhammer News. You can contact him by email: henry@new-yhn.local or on Twitter @HenryThornton95