Michelin Development relaunched to support job growth in Dundee area
Production at the Michelin tyre plant in Dundee is expected to end by the middle of this year, with around 850 jobs affected. To offset this loss, the company is relaunching its Michelin Development scheme with the aim of helping to create hundreds of jobs in Dundee and the Angus area.
Civic and business leaders from across the region are attending an event today to hear more about the £5 million programme. They’ll learn that Michelin Development will provide funding and advice to firms that have the potential to expand and offer “high-quality, long-term employment.”
Successful applicants may be eligible to receive unsecured, heavily-subsidised loans and free, independent and expert advice to pave the way for growth. In addition, Michelin Development will target inward investment by providing grants for companies looking to set up in Dundee. Michelin urges high-potential small and medium-sized enterprises in and around Dundee, Arbroath, Carnoustie and Forfar – or businesses considering investing in these areas – to get in touch. Loans of up to £50,000 are available, and they can be used to lever additional funding from other sources.
“Manufacturing, engineering or business-to-business service companies with fewer than 250 employees are eligible,” shares Mike Cole, head of Michelin Development in the UK. “If you have a solid business plan and the potential to create high-quality jobs, but you just need that bit of extra help, then we want to hear from you.
“Michelin Development is here to support employment in and around Dundee by helping high-potential firms and entrepreneurs turn their ambitions into reality,” Cole adds.
Today’s event takes place at the Michelin Scotland Innovation Parc (MSIP), a joint venture between Dundee City Council, Michelin, and Scottish Enterprise that utilises the Dundee factory site. According to Michelin, at least 850 jobs are expected to be created at MSIP, and Michelin Development has also targeted support for 850 new jobs.
“This is a significant announcement for MSIP, for the Michelin Group and for the Dundee area as a whole,” says John Reid, Michelin Dundee factory manager and the chief executive of MSIP. “When we announced in 2018 that the Michelin Dundee factory was to close in 2020, we pledged to support our employees and deliver a legacy that will benefit the regional economy for generations to come.
“We are determined to create at least 850 jobs on the Michelin Scotland Innovation Parc and Michelin Development is another string to our bow. It will help attract investment and employment to both MSIP and Dundee.”
Michelin Development is backed by a steering committee made up of organisations including Michelin, Angus Council, Business Gateway, Dundee and Angus Chamber of Commerce, Dundee City Council, Scottish Enterprise and the Royal Bank of Scotland.