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Alcoa unit to invest $25m in Hampton facility

Tuesday - 6/17/2014, 11:59am  ET

HAMPTON, Va. (AP) -- Alcoa Power and Propulsion plans to invest $25 million in new technology at its Hampton operation.

Gov. Terry McAuliffe says the expansion will create 75 jobs.

McAuliffe announced the project Tuesday in a news release. He says the new technology will reduce the weight of some jet engine blades by 20 percent.

Alcoa Power and Propulsion is a business unit of Alcoa Inc. The company's products are primarily used in jet engines and industrial gas turbines.

McAuliffe approved a $200,000 grant from the Governor's Opportunity Fund to assist Hampton with the project. He also approved a $450,000 performance-based grant from the Virginia Investment Partnership program.

The Virginia Department of Small Business and Supplier Diversity will provide funding and services to support the company's training and retraining activities.


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