Michelin Scotland Innovation Park – Substantial Growth in it’s first three years
June 27, 2024In 2018, the city of Dundee faced a devastating blow when Michelin announced the closure of its manufacturing base, however a spirit of resilience and determination, coupled with remarkable support and collaboration, led to the creation of the Michelin Scotland Innovation Parc (MSIP).
The Dundee-based hub, a joint venture between Michelin, Dundee City Council, and Scottish Enterprise, has spurred substantial growth. MSIP is a dynamic and creative home for innovators, manufacturers and skills leaders who are actively working towards reducing carbon emissions and fostering a cleaner, more sustainable future.
MSIP has reported significant economic impact within its first three years of operation, demonstrating that Dundee can indeed rise from the ashes.
The MSIP Accelerator Programme has contributed to over £12.65 million in net sales and £6.4 million in gross value added (GVA) impact. The rapid progress of MSIP is a testament to the city’s resilience and innovation.
One of the key highlights is the immediate job creation in Dundee and the foundational work being done at the Skills Academy to prepare the future workforce. MSIP’s contributions to the local community are extensive, from school engagement to pioneering collaborations within the Innovation Hub.
Despite the challenges faced, the potential for MSIP’s growth in the years ahead is immense. Its role in advancing sustainable and low carbon technologies will not only bring prosperity to Dundee but also contribute to addressing the global climate emergency.
Since taking over the former Michelin tyre factory site in 2020, MSIP has made significant strides. Participating businesses in the MSIP Accelerator have secured over £4.37 million in innovation grants and £17 million in investment. With nearly £25 million invested in construction and refurbishment, the Innovation Parc has been transformed, creating numerous job opportunities and supporting local economies.
Sixteen companies have established operations at MSIP, collectively supporting 190 jobs. Over the last three years, MSIP has engaged directly with more than 5,000 young learners in the local community. Each initiative aligns with the objectives of Scotland’s National Strategy for Economic Transformation (NSET), highlighting MSIP’s crucial role in Scotland’s economic ambitions and its aspiration to be the home for sustainable innovation.
Dundee City Council leader, Councillor John Alexander said for MSIP
The progress that MSIP has made in a relatively short period of time is something that we as a city can be really proud of.
It’s encouraging not only to see jobs being created right now in Dundee, but also the building blocks being laid for the workforce of the future at the Skills Academy.
On top of that there’s the huge contribution to the local community through school engagement and the ground-breaking collaboration taking place daily in the Innovation Hub.
While there have been and will continue to be challenges to overcome, I’m in no doubt there’s still lots of potential for MSIP to grow further in the years ahead.
Its role in the sustainable and low carbon technologies will not only help create prosperity here in Dundee, but also play a part in addressing the global climate emergency.
The transformation of the former Michelin site into a thriving hub of innovation and economic activity is a powerful example of how adversity can be turned into opportunity.
Further information can be found in MSIP’s Three Year Impact Report here – MSIP 3 Year Impact Report Final (msipdundee.com)
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