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Michelin Announces $300 Million Investment In Nova Scotia Plants

Michelin, one of Nova Scotia’s largest employers has announced a $300 million investment into its Canadian operations to accelerate sustainable mobility and improve its environmental footprint.

LIVE: Prime Minister Justin Trudeau and N.S. Premier Tim Houston at Michelin in Bridgewater

The investment, which Michelin says is part of its global growth strategy, will see the installation of new technologies and equipment in Michelin’s three Nova Scotia production facilities to respond to market evolution. This includes manufacturing tires for the growing electric vehicle market and larger rim size tires for passenger and light truck vehicles.

“Nova Scotia is an amazing place to do business and Michelin’s decision to modernize and expand its operations here speaks volumes about our business environment,” said Nova Scotia Premier Tim Houston. “Michelin’s strong commitment to greening their operations aligns with our government’s plan for a clean and green economy, where the environment and Nova Scotians can thrive, and no one is left behind.”

Michelin will receive a tax credit from the Provincial Government of about $61.3 million over five years based on eligible capital investments of $302.7 million to be used in Nova Scotia.

The Government of Canada, through the Strategic Innovation Fund, is also contributing up to $44.3 million in federal funding toward Michelin’s expansion, pending a final agreement.

Michelin says this is the latest investment in recent years to help Michelin better serve its customers. In 2020, the company announced a $175 million investment in its South Carolina production facilities.

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