Gov. Andrew Cuomo on Thursday addressed a gathering at Alcoa Corp.’s (NYSE: AA) Massena location, announcing a new seven-year power agreement with the New York Power Authority that will help maintain 450 jobs at the facility. (Photo credit: Philip Kamrass/Office of Gov. Andrew Cuomo via Cuomo flickr page)
The new seven-year agreement is subject to approval by the NYPA board of trustees. Cuomo is recommending the board vote in support of the proposed deal at its meeting on Tuesday, his office added.
“This agreement announced today secures hundreds of jobs at Alcoa, continues the upward momentum of the North Country and builds on New York’s thriving economy,” Cuomo said in the news release. “Alcoa has once again committed itself to Massena for the long-term through this hallmark agreement, which will protect its workers and the state investments made to the region and the facility for years to come.”
The previous contract had included the protection of 145 jobs that are now supported by Arconic, which separated from Alcoa in 2016 but maintained operations at the same site.
Cuomo in December announced that Arconic would maintain its workforce through 2028, ensuring a commitment of roughly 600 jobs total at the smelting facility.
Arconic focuses on “multi-material, precision-engineered products” following its separation from Alcoa’s bauxite, alumina and aluminum products units, per the Arconic website.
Alcoa signed its original contract with NYPA in July 1955, more than three years before the St. Lawrence-Franklin D. Roosevelt project — NYPA’s first generating plant — began producing electricity.
“Alcoa is pleased to have reached an agreement with NYPA that provides the Massena smelter with competitively priced energy for the next seven years,” Tim Reyes, president of Alcoa Aluminum, said in the Cuomo news release. “While the global aluminum industry faces numerous challenges, securing competitive and reliable power is essential for supporting the facility’s future. We thank Gov. Andrew Cuomo and U.S. Senator Chuck Schumer for their support during this process and NYPA for its continued cooperation.”
Alcoa Corp. is headquartered in Pittsburgh, Pennsylvania.
Contact Reinhardt at ereinhardt@cnybj.com
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