A tire re-manufacturing plant, expected to bring 340 jobs to St. Marys was announced Wednesday by Green Arc Tire Manufacturing.

“We’re very, very excited,” St. Marys Mayor Steve Grose says.

Company officials say the factory will focus on remoulding radial tires, producing up to three million tires each year for passenger vehicles, SUVs and light trucks.

Of the 340 jobs the plant is expected to bring to St. Marys, 40 will be reserved for Canadian military veterans.

The facility will be set up at the old Dana Canada auto parts plant.

“While it's still unclear if re-mould snow tires will sell in North America, like they have in Europe, Green Arc is confident enough to make the investment.

“Not only are we making new opportunities, we are making tires that are greener, more affordable and safer for winter driving, than regular tires,” Green Arc COO Mike DiCenzo says.

 When the Dana plant operated, St. Marys was home to its 900 well paying jobs. Some of those workers never left, and today's news is what they've been waiting to hear.

“I'm sure there is a lot of people who will be banging on that door, in the coming future,” says Dave Ellis, a former Dana worker who spent three years struggling to find solid work after the plant closed.

Bill Osborne, a St. Mary’s councilllor, says equipment is already bound to the community from Europe to ensure quick start-up.

 “I believe they are predicting, if it is a success, that by 2016, there will be 760 jobs there"