Michelin to relaunch job creation scheme in Dundee and Angus

Michelin Development will provide funding and advice to firms with the potential to expand, providing high-quality, long-term employment.

The news comes as civic and business leaders from across the region attend an event today to learn more about the £5 million programme.

Guests will learn that successful applicants could 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.

Now high-potential small and medium-sized enterprises in and around Dundee, Arbroath, Carnoustie and Forfar, or businesses considering investing in these areas, are being urged to get in touch.

Mike Cole, head of Michelin Development in the UK, said: “Manufacturing, engineering or business to business service companies with fewer than 250 employees are eligible.

“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.”

Loans of up to £50,000 are available, and they can be used to lever additional funding from other sources.

The event will take place at the Michelin Scotland Innovation Parc (MSIP) – and funding from Michelin Development could be used to attract companies involved in the green transport industry to the new facility.

At least 850 jobs are expected to be created at MSIP, and Michelin Development has also targeted support for 850 new jobs.

John Reid, Michelin Dundee factory manager and the chief executive of MSIP, said: “This is a significant announcement for MSIP, for the Michelin Group and for the Dundee area as a whole.

“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.