Gov. Andrew Cuomo on Saturday announced that Alcoa, Inc. (NYSE: AA) is prepared to move forward with the next phase of modernizing its Massena operations.
The upgrade is part of a contract with the New York Power Authority for the continued supply of low-cost hydropower from the St. Lawrence–Franklin D. Roosevelt hydroelectric plant.
The contract includes a long-term agreement to protect a minimum of 900 jobs at the aluminum-production facilities, according to the governor’s office.
(Sponsored)
Why Now Is the Time To Start Planning for Your Company’s Business Succession
You’ve built a great business, and you love what you do. Retirement is a long way off, so why worry about how you’ll transition the ownership of your company down
Written Contracts for Freelance Workers Now Required
Originally planned for May, the requirements of New York State’s Freelance Isn’t Free Act (“FIFA”) became effective August 28, 2024. The law has flown under the radar for many employers. The
Alcoa is planning to invest $42 million for site preparation at the Massena East smelter and to provide an additional $10 million toward a North Country Economic Development Fund.
The company’s decision to proceed with the next phase of the modernization of the former Reynolds Metals facility signals the potential construction of a new aluminum-production “potline,” for which work is expected to begin in June. A potline is a facility containing a series of “pots,” or large electrolytic cells, in which aluminum is made.
Alcoa’s modernization project is subject to getting approval from the U.S. Environmental Protection Agency (EPA) for a proposed remedial-action plan for cleanup of the Grasse River in Northern New York. The EPA’s decision is expected this month, according to the governor’s office.
Contact Reinhardt at ereinhardt@cnybj.com
