Mr. Speaker, there is good economic news in Pictou county, Nova Scotia. On April 9 Michelin Canada announced an additional investment of $75 million to expand its operations at its facilities in Granton.
By installing a new rubber mixing line at the Granton plant, this innovative company will not only create upward of 70 jobs, but also will contribute $15 million worth of contracts for local companies. This amount is in addition to the $25 million directed to local contractors that resulted from the previous Michelin expansion.
I am however concerned about the recent musings from the Liberal government to phase out the Atlantic Canada investment tax credit. Along with Nova Scotia's strong work ethic and great quality of life, it is one of the many attractive incentives to private sector job creation.
I urge the government to continue this tax incentive so that we will have more economic success stories like Michelin, a cutting edge company that directly employs more than 3,500 Nova Scotians.