Alcoa Invests $90 Million To Meet Needs of Aerospace Industry in Lafayette, Indiana
05/21/2012
Expansion of the plant, at 3131 East Main Street, is needed to meet growing demand in the aerospace market for its newest alloys. When completed, the facility will produce more than 20,000 metric tons of aluminum lithium and be capable of casting round and rectangular ingot for rolled, extruded and forged aerospace applications. The alloys, introduced last year and now patented, allow air framers to build dramatically lighter and lower-cost airplanes versus composite alternatives. The alloys are used in extrusions, forgings, sheet and plate applications across aircraft structures, including airplane wings and fuselage elements.
"Alcoa's expansion strengthens Indiana's reputation of manufacturing excellence," said Governor Mitch Daniels. "We are grateful that this global manufacturing leader continues to find the Hoosier State the most advantageous state for growth."
"The demand we are seeing for aluminum lithium is an excellent example of the Alcoa technical advantage in action and is the result of our continued leadership in aerospace alloy development across our Alcoa aerospace businesses," said Eric Roegner, president of Alcoa Forged and Extruded Products. "When completed, our Lafayette aluminum lithium facility will be the premier operation in the world, capable of making the widest breadth of products in the most efficient manner."
In a package of incentives, the Indiana Economic Development Corporation offered Alcoa up to $650,000 in conditional tax credits and up to $200,000 in training grants based on the company's job creation plans. In addition, the city of Lafayette will consider additional property tax abatement at the request of the Greater Lafayette Commerce.
"This is a milestone announcement for Lafayette, a significant investment, not only in new construction and capital expenditures, but, even more important, in our people, our workforce," said Mayor Tony Roswarski. "With this news, Lafayette's heart is indeed strong and healthy, with Alcoa a contributor to that since it first began manufacturing in our community in 1938."
Project Announcements
Kikkoman Foods Plans Jefferson, Wisconsin, Operations
04/26/2024
BWX Technologies Expands Cambridge, Ontario, Nuclear Production Operations
04/26/2024
Greenheck Group Plans Knoxville, Tennessee, Operations
04/26/2024
Local Bounti Plans Pasco, Washington, Indoor Agricultural Operations
04/26/2024
Innovative Construction Group Plans Siler City, North Carolina, Production Operations
04/26/2024
Crystal Window and Door Systems Plans Mansfield, Texas, Headquarters-Production Operations
04/25/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024