Hoosier Racing Tire is in the midst of an $8 million plant expansion in Plymouth.

Hoosier Racing Tire is headquartered in Lakeville, but the Plymouth plant is the place where all Hoosier Racing Tires are manufactured.

The expansion will create 16 new jobs in Plymouth, and four new jobs in Lakeville.

“What they're looking at is $8 million dollars in investment for this current project,” said Jennifer Laurent with the Marshall County Economic Development Corporation. “It’ll put an addition on to the southeast side of the existing production building (in Plymouth) and bring those rubber mixing operations that are proprietary you know, they're a business secret so to speak, in house."

Hoosier Tire now has to outsource some of its rubber mixing business to a firm in Akron, Ohio. Exactly what Hoosier Tire will do once the secret formula is entirely in-house, is itself, somewhat of a secret.

“This is a strategic step in the right direction for the, as they look at other possibilities for their company,” said Jennifer Laurent.

“Again, this is only 16 jobs, at this point but I look forward to,” said Plymouth Mayor Mark Senter. “They're going to be doing, from what I understand, other things than just tires. I don't know enough about it to tell you Mark, but they're going to be expanding in the rubber industry."

Hoosier Tire already employs 300 people at the Plymouth plant and 124-workers in Lakeville.

The plant expansion is on the fast track with foundation work now taking place on site. The new rubber mixing facility is expected to be open by November of 2012.

On Wednesday evening, the Plymouth Common Council preliminarily approved a 10 year property tax phase in for the project.

The State of Indiana has also pledged up to $140,000 in tax credits.