Noranda Bauxite & Alumina will invest $35 million to expand and upgrade its alumina refinery in St. James Parish and establish its company headquarters there.
The Gramercy project will create 65 jobs, including 15 corporate headquarters jobs, at an average annual salary of $90,000, plus benefits. The refinery already employs 395 workers.
The announcement was made Friday by CEO David D’Addario and Gov. John Bel Edwards.
Louisiana Economic Development estimates the project will result in 185 new indirect jobs. The plant, built by Kaiser Aluminum & Chemical Corp., has operated in St. James Parish since 1958. It is located on the east bank of the Mississippi River, less than a mile downriver from the Veterans Memorial Bridge.
The project will include the design and installation of equipment to increase the production, storage and shipping capabilities of chemical-grade alumina. Known as CGA, the product is used in industrial applications, including water treatment, flame retardants, catalysts for oil, gas and petrochemical refining, building materials and insulation.
LED began working with Noranda in May 2015 and offered the company an incentive package that includes a performance-based, forgivable loan of $1 million under the state’s Economic Development Award Program for facility construction and equipment, and a Modernization Tax Credit of $200,000 a year for five years on capital investment for facility upgrades and equipment. The company also will use the state's FastStart workforce training program and is expected to use the state’s Quality Jobs and Industrial Tax Exemption programs.
“The projects will not only expand the production capacity for our valued CGA customers and create new jobs for our community, they will help ensure the continuation of this business and its 400-plus jobs by enabling us to operate more efficiently and effectively and with even greater environmental responsibility," D’Addario said.
Noranda is a subsidiary of New Day Aluminum, which acquired the refinery from its previous owner in bankruptcy proceedings in Missouri in 2016. New Day Aluminum is affiliated with DADA Holdings, an investment and management company based in Fort Lauderdale, Florida. DADA makes investments and manages companies in basic industries, such as metals and mining.