Friday, October 31st9.5°C
21625
23129

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

23015


Recent Trending




Today's Market
S&P TSX14586.99+128.30
S&P CDNX764.69-6.96
DJIA17346.88151.46
Nasdaq4622.111+55.973
S&P 5002011.60+16.95
CDN Dollar0.8866-0.0069
Gold1171.10-27.50
Oil79.83-1.07
Lumber325.00+1.40
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.115+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.18+0.03
Cantex0.045-0.015
Anavex Life Sciences0.18+0.0089
Metalex Ventures0.03-0.005
Russel Metals32.65+0.43
Copper Mountain Mining2.07+0.10
Colorado Resources0.12-0.02
ReliaBrand Inc0.012-0.004
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.39+0.015

 



22970

FEATURED Property
2098176243- 2001 hwy 97 Berkley Estate
2 bedrooms 2 baths
$92,500
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_








Member of BC Press Council


22771