Michelin Development Office Opens

Four days after Opelika’s B.F. Goodrich plant shut down, its parent company opened up an economic development office in historic downtown Opelika in the old First National Bank building.

Teamed up with AuburnBank, Michelin is investing an initial two million dollars in the East Alabama area by providing loans for small- to medium-sized businesses. The goal is to replace as many jobs as possible that were lost in the Goodrich plant closing. However, applications are open to the entire community with funding starting at $10,000.

“We feel this program does give something back, and it helps us move forward to replace some of those jobs that were taken as a result of making an extremely difficult business decision,“ said John Tully, president of Michelin Development.

Michelin has put together a steering committee of community leaders ranging from a reverend, professor, entrepreneur and attorney. This committee will expand as the development program expands its reach.

Applications will roll through an online process where prospective business owners will get a unique user login. After applying, a face-to-face meeting will help determine goals and strategies.

This isn’t the first time Michelin has invested in an area where a plant has closed. A similar program was launched in Ontario in 2006 to account for lost jobs. Twenty-two businesses were created and about 860 jobs in the Waterloo region.

The new East Alabama development office will stay open until a good amount of the jobs lost have been replaced.

Visit http://www.michelindevelopment.us for more information.