ARDMORE, OK -- Ardmore city commissioners have approved loaning more money to Michelin to cover new equipment costs.
City Manager J.D. Spohn says they voted to loan Michelin an extra $110-million dollars bringing the total funding for the plant from $310-million to $420-million dollars.
The agreement between the Ardmore Development Authority and Michelin has been in place for 8 years.
The new agreement will extend through 2017.