Michelin Development in the Greater Waterloo Region loans help create a potential 539 jobs in the region

    Loans to local entrepreneurs top $2.25 million

    KITCHENER, ON, Sept. 24 /CNW/ - Michelin Development in the Greater
Waterloo Region today announced five more loans bringing the potential number
of jobs the program has created in the region to 539 and the total amount of
money loaned to local entrepreneurs to more than $2.25 million dollars.
    "In the two years since the launch of Michelin Development in the Greater
Waterloo Region we have exceeded our expectations in both potential job
creation and the amount of money loaned to local entrepreneurs," said John
Tully, director of Michelin Development (Canada) Inc. in the Greater Waterloo
Region. "We are especially pleased that a majority of the jobs created are in
the manufacturing sector."
    Michelin Development's most recent loans include:

    -   Cable Connections Ltd., Waterloo - cable assemblies and harnesses
        manufacturing, 95 potential jobs created.

    -   Damselfly Solutions, Inc., Kitchener - IT solutions provider, 18
        potential jobs created.

    -   Maxwell's Music House, Waterloo - a multipurpose venue for musical
        growth, development and entertainment, 16 potential jobs created.

    -   SWOGG, Waterloo - a unique sports apparel manufacturer, eight
        potential jobs created.

    -   The Gardens, Elmira - landscape designer and retailer, seven
        potential jobs created.

    "Throughout the last two years, we have received a number of aggressive
business growth and job creation strategies from some of the most
entrepreneurial people in the region," said Tully. "We are working with them
to maximize their businesses and potential job creation."
    Michelin Development focuses on new job creation by providing
low-interest loans to qualified start-up, small- and medium-sized businesses.
In addition to this financial support, Michelin Development supports the
development of new and existing businesses by providing access to Michelin's
considerable in-house business expertise.
    Information and applications for interested entrepreneurs are available
at www.michelindevelopment.ca.

    Dedicated to the improvement of sustainable mobility, Michelin designs,
manufactures and sells tires for every type of vehicle, including airplanes,
automobiles, bicycles, earthmovers, farm equipment, heavy-duty trucks,
motorcycles and the space shuttle. The company also publishes travel guides,
hotel and restaurant guides, maps and road atlases. Headquartered in Laval,
Quebec, Michelin North America (Canada) Inc. (www.michelin.ca) employs
approximately 3,700 employees and operates three plants.

For further information:

For further information: visit www.michelinmedia.com or contact: Karen
Gordon, cell: (416) 997-9478

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