- planning to invest up to $25 million
According to the office of Virginia Governor Timothy Kaine, Alcoa Inc. is planning to invest up to $25 million to expand its Alcoa Howmet plant in Hampton, VA. The investment is meant to increase production capacity for investment castings for industrial gas turbines.
The Virginia Economic Development Partnership reportedly worked with local authorities to land the project in Hampton, where Alcoa Howmet has been in operation since 1974. The governor approved a $500,000 performance-based grant from the Virginia Investment Partnership program, an incentive available to existing Virginia companies.
Also, the Virginia Department of Business Assistance will provide training assistance through the Virginia Jobs Investment Program.
Alcoa Howmet is a division of Alcoa Power and Propulsion, an Alcoa Inc. business unit with 27 operations and over 10,000 employees worldwide.
The Hampton plant produces a range of investment-cast turbine airfoils for the industrial gas turbine industry.