Subsidy Tracker Individual Entry

Company: 
Alcoa
Parent Company: 
Alcoa
Subsidy Source: 
state
Location: 
New York
City: 
Massena
County: 
St. Lawrence
Project Description: 

aluminum smelting plant

Year: 
2015
Major Industry of Parent: 
metals
Specific Industry of Parent: 
metals
Subsidy Value: 
$68,800,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
600
Source of Data: 

The subsidy value and projected number of retained jobs come from: Brian Nearing, "Alcoa Jobs Saved in North Country," Albany Times-Union, November 25, 2015. Also see Gov. Cuomo's press release at https://www.governor.ny.gov/news/governor-cuomo-and-senator-schumer-anno...

Notes: 

The subsidy package consists of $38.8 million in capital and operating assistance from Empire State Development and $30 million in electricity savings from the New York Power Authority. The package was said to be necessary to save 600 jobs. Alcoa would be subject to financial penalties if the employment level falls below that figure. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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