Alcoa Invests $90 Million To Meet Needs of Aerospace Industry in Lafayette, Indiana
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."
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