Michelin, Halifax and Ottawa invest $300M in company plants in N.S.
Nova Scotia Premier Tim Houston ( left), Michelin North America President and CEO Alexis Garcin (center) and Canadian Prime Minister Justin Trudeau walk through the Bridgewater plant on Tuesday morning.
The tire giant Michelin, the federal government and the provincial government will spend 300 million dollars in the factories of this company in Nova Scotia, which should create dozens of jobs.
The Prime Minister of Canada, Justin Trudeau, and the Prime Minister of Nova Scotia, Tim Houston, traveled to the Bridgewater plant with Michelin executives to make the announcement on Tuesday morning.
The tire company will invest $140 million to upgrade the Bridgewater plant.
An agreement that has not yet been completed between the federal government and Michelin could allow the company to receive $44.3 million from the Strategic Innovation Fund.
Michelin will also receive a provincial tax credit worth approximately $61.3 million over five years to fund the expansion.
Michelin North America President and CEO Alexis Garcin estimates the funds will create 70 new jobs at the Bridgewater plant.
We know that an industry thriving and growing manufacturing here in Bridgewater is helping to create schools, businesses, a thriving sports sector, an arts sector and a thriving cultural sector for generations in the communities near this plant, he said.
Prime Minister Justin Trudeau assures that this expansion will produce tires for the growing electric vehicle industry.
The Prime Minister of Canada, Justin Trudeau
According to him, it is possible to help the economy and the environment at the same time time.
I know that for Canadians, the environment is very important. The fight against climate change has always been framed like this: “You can't both protect the environment and grow the economy. You can't do both" explained the Prime Minister.
However, Mr. Trudeau said that more and more companies from around the world are investing in Canada to produce goods from renewable sources. #x27;renewable energy.
We don't have to choose between the environment and the economy. What we are building here and across the country makes it clear that protecting the environment and growing the economy can go together, the Prime Minister said.
Nova Scotia Premier Tim Houston
For his part, Nova Scotia Premier Tim Houston assured that the provincial tax credit will help both province and the company.
I am very pleased to say that today, just like Michelin is saying yes to Nova Scotia, Nova Scotland says yes to Michelin, he said.
He said he is focused on two things: solving problems in the healthcare system and finding the x27;money to get there.
You can't pay to fix health care problems without growing the economy, attracting new businesses, and helping companies that are already here, explained Mr. Houston.
Some of these funds will also go to the plants in Pictou and Waterville.
Michelin employs approximately 3,600 people in Nova Scotia.
With in trainings of CBC
