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LEXINGTON (WACH) -- Lexington County got some good economic news Monday after the disappointment of Amazon pulling the plug on over 1,000 added jobs.

Michelin North America says it is adding 270 high tech jobs and a $200 million investment at its Lexington plant.

Gov. Nikki Haley was on hand with Chairman Dick Wilkerson to make the announcement.

The company says the expansion that will take place over the next two years is because of the rising demand for passenger tires.

“Trusted for its quality and value, the Michelin brand was quite resilient during the recent economic crisis,” Wilkerson said. “As the economy turned, demand for our tires increased dramatically. We must have additional capacity for high performance passenger car tires to meet our customers’ needs. We’re thrilled that the expansion will be in our home state of South Carolina. The Lexington County Council and the state of South Carolina have been effective partners with us, working to make this expansion and the new jobs that support it a reality.”

In 2008, Michelin invested $90 million to expand production at its two plants in the Midlands.  In the year leading up to that expansion, Michelin invested $200 million in projects.

Haley says the Michelin has invested $2.6 billion in the Palmetto State since 1981 when it was established.

“Michelin has been an important part of the Midlands business community for decades and we celebrate the company’s decision to increase its presence in South Carolina. This announcement not only shows the company’s commitment to our state, but that we are doing right things to help South Carolina’s existing businesses grow. We look forward to Michelin’s continued growth in South Carolina,” Haley said.

The Lexington plant currently employs around 1,300 people.  The tire maker also has several South Carolina plants in the Upstate.

Amazon.com was planning to open a distribution center in Cayce but decided against building in the Midlands because lawmakers voted down a plan that would allow them to sell products to South Carolina residents without collecting sales tax.

Does Monday's announcement make up for losing an Amazon distribution plant in Lexington County and the jobs that would come along with it?  Leave a comment below to share your opinion.