Michelin loan approved by Ardmore city commissioners

By: News 12
By: News 12

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.

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