Key takeaways:
- The firm wants to add 34,400 square feet for more tire-making equipment.
- Michelin Tire intends to add 34,400 square feet to its project in Bridgewater, N.S.
Michelin Tire is set to begin construction in late spring or early summer on the addition of its Bridgewater, N.S., plant.
The project has one final regulatory hindrance to clear — a May 4 deadline to appeal the town’s permission for a development deal with the firm before this month. So far, no requests have been filed with the Nova Scotia Utility and Review Board.
The French multinational desires to add 34,400 square feet to offer it space for more tire-making equipment.
That sounds like a lot — and it would be anywhere else — but it will add a little more than two percent to the project footprint.
Michelin calls the two new structures it wants to build an “addition.”
“In addition, our Bridgewater project will permit the installation of new equipment utilized in the tire building operation, assuring we are well-positioned to meet future market needs,” Michelin representative Nicolle Vuotto said.
Read more: Classes restart Monday at Université Sainte-Anne after the 7-week strike ends
Suitable for Nova Scotia tax credit
Given the internal contest for capital spending among Michelin projects, Mayor David Mitchell said the decision to fund Bridgewater matters.
“Even though it may appear, you know, 30,000 square feet compared to the million square feet. Overall, it’s still an addition, which is effective. I think it demonstrates its conviction in the plant itself,” Mitchell said.
It will also make between 10 and 15 jobs.
The project is suitable for a 15 percent refundable income tax credit under the Nova Scotia capital investment tax credit.
Neither the firm nor the region was ready to discuss whether the tax credit was in the works.
Source – cbc.ca
