Funding for tyre plant
£60m helps wheels turn for Michelin innovation hub
Welcoming new funds: the tyre plant becomes an innovation hub
A plan to turn the doomed Michelin tyre plant in Dundee into a centre for developing new industries and skills has received a £60 million package of support.
The investment, supported by Michelin, Scottish Enterprise and Dundee City Council, will transform the site into the Michelin Scotland Innovation Parc (MSIP) over the next ten years.
The Parc will bring together industry and academia with a focus on sustainable mobility, clean transport and low carbon energy. It will offer office space as well as business and innovation support services.
The joint funding commitment comes a year after it was announced the Michelin plant would close in June 2020.
Finance Secretary Derek Mackay will meet workers and attend the Michelin Dundee Action Group. He said: “This joint funding commitment from the Scottish Government and Michelin 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.”