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Alcoa, Governor Branstad Break Ground On Automotive Expansion In Davenport, Iowa

Stocks in this article: AA

Alcoa executives today joined Governor Terry Branstad, Lt. Governor Kim Reynolds, and other local and state officials to break ground on a $300 million expansion of its Davenport Works plant here to meet rising demand for aluminum from the automotive market. Car manufacturers have said they plan to grow aluminum use from 343 pounds per car today to 550 pounds by 2025 as they switch from steel to increase the fuel efficiency, safety, durability and performance of the cars they produce.

The expansion will create an additional 150 full time jobs in Davenport once completed, bringing total employment to more than 2,300 high-value jobs. In addition, during construction, an incremental 150 jobs will be created at the plant. The previously announced expansion is expected to be completed by the end of 2013. An economic development incentive package from the Iowa Department of Economic Development (IDED) helped secure the selection of Davenport for the expansion.

Following the expansion, the plant will have more than 130 acres under roof and will generate nearly $5 million a day into the local economy, according to a new economic impact study by the Quad City Chamber of Commerce.

“This is a great day for Scott County and surrounding communities. We are proud to have Alcoa filling the world’s needs right here in Iowa. This expansion is a testament to the tremendous Iowa work ethic, and Alcoa’s recognition of what this great area has to offer,” Gov. Terry E. Branstad.

“This is a great celebration. Alcoa’s expansion is occurring because they make great products for their consumers,” said Lt. Gov. Kim Reynolds. “We look forward to Alcoa’s continued future success and are proud to partner with them here in Iowa.”

“This is a great day for Davenport Works and the state of Iowa. It’s a great day for Alcoa. And, a great day for the automotive industry and anyone who drives a car,” said Mark Vrablec, President of Aerospace, Transportation and Industrial & Specialty Products for Alcoa’s Global Rolled Products business. “The growth opportunities in automotive are fabulous. Today marks just the beginning of capturing that opportunity and we are proud it’s happening right here in the Quad Cities.”

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