Wednesday, July 30th24.3°C
21450
21755

Nova Scotia premier says his government is open to helping Michelin if asked

HALIFAX - Nova Scotia's premier isn't ruling out future help for Michelin Canada but Stephen McNeil says any financial assistance will be free of grants to the multinational corporation.

McNeil said Thursday the tire manufacturing giant has not asked for assistance but the government would consider a proposal if it is brought forward.

Michelin had been a good corporate citizen during its time in the province, he said.

"If they see their opportunities for expansion here, then our government would be willing to have the conversation, but there's been no ask," said McNeil.

The Liberal premier was elected last fall after a campaign in which he promised to end so-called giveaways to large corporations.

Asked whether he would break that pledge to keep Michelin in Nova Scotia, McNeil replied: "We've sent a message to companies in this province that were not in the business of giving out free money. We have not ruled out the possibility of being in a loan position with companies."

When prompted for clarification, McNeil said there would be "no grants."

He said the government is sending three cabinet ministers to Pictou County on Friday for discussions with local politicians on how best to respond to the loss of 500 jobs over the next two years at Michelin's plant in Granton.

The company says it will phase out production of small tires at the plant in response to a continuing shift towards larger tires in the North American car tire market.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX15446.55+1.33
S&P CDNX1016.50-3.35
DJIA16912.11-70.48
Nasdaq4442.698-2.211
S&P 5001969.95-8.96
CDN Dollar0.9201-0.0016
Gold1310.00+6.70
Oil101.47+0.50
Lumber322.20-0.80
Natural Gas3.73-0.017

 
Okanagan Companies
Pacific Safety0.185-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.20+0.05
Cantex0.085+0.02
Anavex Life Sciences0.2675+0.0025
Metalex Ventures0.085+0.005
Russel Metals35.29+0.14
Copper Mountain Mining2.86-0.11
Colorado Resources0.2250.00
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.035+0.015
Mission Ready Services0.155-0.035

 



21337

FEATURED Property
1264528Edgewood
1 bedrooms 1 baths
$275,000
more details
Click here to feature your property
Please wait... loading


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22707