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Thursday, December 11, 2014
Alcoa Power and Propulsion is expanding in the City of Whitehall with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today.
LANSING, Mich. – Alcoa Power and Propulsion is expanding in the City of Whitehall with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today. The expansion is expected to generate more than $16.7 million in new private investment and add 25 new jobs.
“Alcoa is an important employer in Muskegon County, and its investment means Michigan residents will get good jobs that could have gone to other states,” said MEDC President and CEO Michael A. Finney. “The company’s decision to expand in Michigan underscores an economic climate that is more business-friendly than ever and a manufacturing talent pool that can compete with any place in the world.”
Alcoa Power and Propulsion provides coating services to the aerospace and power generation industries. Alcoa Power and Propulsion has affiliates operating 27 manufacturing facilities in the U.S., Canada, France, the United Kingdom and Japan. Alcoa Power and Propulsion plans to expand its existing operations in the City of Whitehall, investing more than $16.7 million and creating 25 jobs. As a result, the company has been awarded a $285,000 Michigan Business Development Program performance-based grant. Michigan was chosen over other competing sites throughout the U.S. where Alcoa operates. The City of Whitehall has offered support to the project in the form of property tax abatement. For employment opportunities with Alcoa Power and Propulsion, visit http://www.alcoa.com/global/en/careers/search_jobs.asp.
“Alcoa is a global leader in the production of airfoil jet engine components,” said Mike Pepper, president of Alcoa Power and Propulsion. “This expansion will enable us to continue providing our high level of service as we meet growing demands for our high-tech, Thermatech-coated parts that enable enhanced fuel efficiency.”
“As the largest manufacturing company in Muskegon County, Alcoa continues to be a leader in the aerospace industry and is home to the most advanced aerospace manufacturing facility in the world,” said Ed Garner, President and CEO of Muskegon Area First Economic Development Corp.
The Michigan Business Development Program provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses that need additional assistance for deal-closing and for second stage gap financing.
The MSF considers a number of factors in making these awards, including: out-of-state competition, private investment in the project, business diversification opportunities, near-term job creation, wage and benefit levels of the new jobs, and net-positive return to the state. Business retention and retail projects are not eligible for consideration of these incentives.
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.
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