When we invest in Canadian manufacturing, we invest in workers, in communities, and in our economy. Last year alone, companies invested billions of dollars in our clean auto sector, creating and securing tens of thousands of good jobs and growing our economy.
On 14th March, 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 expects 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.
From mining and processing critical minerals like lithium and aluminum, to building batteries, assembling cars, and manufacturing tires, the Government of Canada is attracting investment all along the electric vehicle value chain. Michelin’s investment is another vote of confidence in Canadians and in Canada – a world leader in manufacturing electric vehicles.
Thanks to the talent and abundance of highly skilled workers and key government investments, we are continuing to build a strong economy that benefits all Canadians. Today’s announcement is yet another step toward a healthier future with clean air and good jobs for generations to come.