October 23, 2018 - 12:43 PM
HALIFAX - Officials say expansions by two major corporations in Nova Scotia could bring hundreds of new jobs to the province.
In separate announcements Tuesday, the province unveiled rebates for Michelin North America (Canada) Inc. and Manulife Financial Corp.
Manulife says it plans to expand its existing operations in Halifax, adding as many as 600 new jobs over the next five years.
Nova Scotia Business Inc., the province's business development agency, says Manulife could earn a payroll rebate of up to almost $10 million over five years, but less if it creates fewer than 600 new jobs.
Manulife has added 152 full-time equivalent jobs in Nova Scotia since its first payroll rebate agreement with Nova Scotia Business Inc. in 2014.
Michelin says it has two new projects at its Pictou County site worth $21 million that will add 150 jobs and make another 200 temporary jobs permanent.
Michelin says it will begin production on a new winter tire line, and launch "an innovative process for semi-finished materials."
"This is amazing news for Michelin in Nova Scotia, as these two projects push Michelin's employment in Nova Scotia to more than 3,600, the highest levels seen in our almost 50-year history," Jeff MacLean, president of Michelin North America (Canada), said in a statement.
Nova Scotia Business Inc. says Michelin could earn a maximum rebate of $3.57 million, based on eligible capital spending of $14.3 million on the semi-finished materials process.
"This project reinforces the strength and technical capability of the Michelin Nova Scotia team," Premier Stephen McNeil said in a statement.
News from © The Canadian Press, 2018