The Empire State Development (ESD) board of directors today approved a $5 million grant to support Novelis Corp.’s expansion in Oswego County.
The aid was part of $9.8 million in funding approved by the board today. The money will help create 120 new jobs and retain more than 1,000 positions across the state.
Novelis is the world’s largest producer of rolled aluminum, according to ESD. The company is investing more than $200 million in its Oswego County operations to meet rising demand for aluminum sheet in the U.S.
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The project will result in a 400 percent increase in the company’s capacity to produce aluminum sheet for the automotive industry in North America. The company plans to add 100 new full-time jobs as a result of the expansion, which will also retain more than 650 current employees.
The work includes a $96 million, 180,000-square-foot addition to the existing Novelis plant and $138 million in new machinery and equipment, according to ESD. The state grant will go toward purchase and installation of new equipment.
“Novelis’ expansion project, which includes cutting-edge equipment, will create critical new jobs and retain hundreds of existing employees at its Oswego facility,” Empire State Development President, CEO, and Commissioner Kenneth Adams said in a news release. “ESD is proud to support the growth of manufacturing in upstate New York and help companies like Novelis improve productivity and competitiveness.”
Contact Tampone at ktampone@cnybj.com
