Trudeau says Ottawa will help $300-million Michelin plant expansion in Nova Scotia
BRIDGEWATER, N.S. — Prime Minister Justin Trudeau says the federal government is prepared to help fund a planned $300-million expansion at a Michelin tire manufacturing plant in Nova Scotia.
Trudeau made the announcement this morning at the factory in Bridgewater, saying that the planned expansion will secure existing jobs and create new ones, and that Ottawa is willing to spend up to $44.3 million on the project, pending a final agreement.
The prime minister was joined by Nova Scotia Premier Tim Houston, who says Michelin’s decision to modernize and expand its operations is a testament to Nova Scotia’s strong business environment.
Houston says that through the province’s newly increased Capital Investment Tax Credit, Michelin stands to receive a credit of about $61.3 million over five years, based on the planned investment of $302.7 million.
Michelin currently employs about 3,600 Nova Scotians at its manufacturing plants in Bridgewater, Waterville and Granton, and the expansion is expected to add 70 more jobs.
The planned modernization will allow Michelin to produce more energy efficient tires, including ones used for electric vehicles, and to cut factory emissions through electrification.
This report by The Canadian Press was first published March 14, 2023.
The Canadian Press