Province Invests in Michelin, Helps Create More Rural Jobs
Michelin is expanding its Nova Scotia presence and creating new jobs in the Annapolis Valley, supported by an investment from the province.
"When a company is coming here, or expanding here, I want it to be profitable enough to re-invest and keep hiring Nova Scotians," said Premier Darrell Dexter. "Companies like Michelin can choose to grow anywhere. I'm happy that they have chosen to keep growing in Nova Scotia, meaning more good jobs, more families and more young people."
Michelin will invest $64.1 million to expand its Waterville facility as part of a $73-million project. The investment is expected to create 50 new, high-value jobs in rural Nova Scotia, and improve and expand the company's production of tire products. The province will invest up to $8.9 million in jobs created by the project, an investment that will benefit the province long after it is fully recovered in about eight to nine years.
"Companies like Michelin have demonstrated that Nova Scotians, and particularly the workers and industries in rural Nova Scotia, can be among the world's best in quality and productivity," said Premier Dexter.
Michelin's capital project will include installing new technologies in all aspects of the manufacturing process, which will support the success and continued growth of wide-based tire products like the Michelin X-One for commercial trucking in North America.
The project will also include a 3,000 sq.-metre building expansion.
"Today's announcement shows once again that Michelin believes in both the province of Nova Scotia and our highly skilled employees," said Mr. Dana LeBlanc, president, Michelin North America (Canada) Inc. "The demand is growing in North America for our wide-based tire products like the Michelin X-One, and this manufacturing investment at Waterville will help us meet that demand."
Michelin operates three plants in the province and employs more than 3,500 Nova Scotians. The company has invested heavily in technology and facilities, demonstrating its ability to deliver high-quality products and adapt to changing economic and market conditions.
Michelin's Nova Scotia plants are well known within the company as being leaders in technology and productivity.
"We are proud to have Michelin in our community and happy Michelin has chosen to grow in Kings County," said County of Kings Warden Diana Brothers. "This expansion will create high-value jobs in our rural municipality that will help families and young people continue to prosper."
A Dalhousie University report found the province gains about $70 million per year in tax revenue from Nova Scotians employed by Michelin in the province.
The province's investment is from the Nova Scotia Jobs Fund, which pursues investment opportunities for communities in transition, industry sectors, regional support, small businesses programs, infrastructure and large industrial ventures.