A LaPorte company has plans to invest more than $100 million into its manufacturing plant and create more than 300 additional jobs.
Alcoa Howmet was granted a 10-year tax abatement by the city council Monday night on $27 million of improvements to its 200,000-square-foot building at 1110 E. Lincolnway on the city's east side along with $83 million in new manufacturing equipment.
Alcoa Howmet has been in La Porte since 1957 and is a leading producer of integral compressor and turbine investment castings for the aerospace and industrial gas turbine industries.
Greater LaPorte Economic Development Corp. executive director Bert Cook said the 312 new jobs projected will generate $23 million in annual salaries.
The company presently has a workforce of more than 300.
Officials with the company decided to wait until pending contracts related to the expansion were finalized before divulging further specifics about the plans for future growth.
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