Federal government announces support for Michelin’s $300M project in Nova Scotia
by CM Staff
Pending a final agreement, Michelin could receive up to $44.3 million in federal funding through the Strategic Innovation Fund.
BRIDGEWATER — On Mar. 15, the Prime Minister, Justin Trudeau, and the Premier of Nova Scotia, Tim Houston, announced that their governments are working closely with tire manufacturer Michelin to help support a $300 million project to modernize their Nova Scotia facilities to use technological innovation to manufacture more efficient tires, including tires for electric vehicles, and cut emissions from operations in the process through electrification.
Pending a final agreement, Michelin could receive up to $44.3 million in federal funding through the Strategic Innovation Fund. Michelin will also receive a provincial tax credit of about $61.3 million over five years from the Province of Nova Scotia toward their expansion. Through this project, Michelin hopes to secure 3,600 good middle-class jobs across the company’s three plants in Bridgewater, Pictou, and Waterville, Nova Scotia, as well as create dozens more.
“Companies understand the excellence of Canada’s workers and auto sector – and today’s announcement is a testament to that. Here in Nova Scotia, we are once again seeing that when we invest in our workers, we build communities and an economy that works for everyone, while leaving a stronger, healthier future for our kids,” said Justin Trudeau, Prime Minister of Canada.
“Today’s announcement is great news for the future of Canada’s auto sector. We are proud to partner with Michelin on a project that will support Canada’s advancement in the transportation sector and keep Canada on the cutting edge of the clean economy. With this investment, we are continuing to build a strong auto sector ecosystem by supporting the development of clean technology in the tire industry, creating well-paying jobs, and generating economic benefits for Nova Scotians,” said François-Philippe Champagne, Minister of Innovation, Science and Industry.
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