The future of Michelin’s Dundee site and the creation of new economic and employment opportunities in the region have taken a step forward with a £60 million joint funding commitment — a year after it was announced that the Michelin plant would close in June 2020.
The investment, which will transform the site into the Michelin Scotland Innovation Parc (MSIP) over the next 10 years, will be supported by Michelin, Scottish Enterprise, the Scottish Government and Dundee City Council.
Scottish finance secretary Derek Mackay said: “This joint funding commitment demonstrates our shared determination to make the site a global destination for innovation and investment, attracting 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.”
Scottish Enterprise chief executive Steve Dunlop (www.scottish-enterprise.com
): said “Diversification is key to sustainability, and we are helping Scotland to grasp the climate opportunity.
"This investment will see the site become a world-leading facility for developing sustainable mobility and low-carbon energy, building on Michelin’s legacy of innovation and manufacturing excellence in Dundee.
"With MSIP, we’re creating jobs, economic opportunities and solutions for the future; this funding package will be the catalyst.”
MSIP will also include an innovation hub and become a focal point for collaboration between industry and academia.
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 new roles.
"A year ago, I would not have believed we could make this much progress.
"We still have a long way to go, but we should be encouraged by how things have progressed.”