The future of Michelin’s Dundee site and the creation of new economic and employment opportunities across the region has taken a step forward with a £60 million funding commitment.
The investment will transform the site into the Michelin Scotland Innovation Parc (MSIP) over the next ten years and will be supported by Michelin, Scottish Enterprise, the Scottish Government and Dundee City Council.
The joint funding commitment comes a year after it was announced the Michelin plant would close in June 2020.
Finance Secretary Derek Mackay said: “This joint funding commitment demonstrates our shared determination to transform the site to be a global destination for innovation and investment.
“MSIP will attract companies, research institutions and a highly skilled workforce. We want Scotland to lead the way in developing and manufacturing the technologies of the future and MSIP will be vital in helping us achieve this.”
Michelin-Scotland Innovation Parc Chief Executive John Reid said: “Throughout the last year our priority has been to support our employees and their families and 414 people have already secured their next role. A year ago, I wouldn’t have believed we would have been able to make this much progress. We still have a long way to go but we should be encouraged by how things have progressed in the last year.”
Dundee City Council Leader John Alexander added: “With the funding agreed, work about to start on-site and a fantastic brand we can sell to the world, everything is in place to create something really special here in Dundee.
“There will be no let-up in our efforts to attract investment and create employment, and I look forward to welcoming tenants to this world-leading facility.”