Ormet Corp. plans to restart its Ascension Parish alumina manufacturing plant, a move that will create about 250 new jobs. The company and Louisiana Economic Development officials announced today that the plant, which was idled in December 2006, will begin producing alumina, a key component in aluminum, by the end of the year. Once full employment is reached, in about a year, Ormet will have the same number of employees as it did when it shut down the Ascension plant. The new jobs will have an average annual wage of about $57,000, plus benefits.
There had been speculation since last year that Ormet would restart the plant by the end of 2011, because of rising alumina prices and lower costs for natural gas. When the plant shut down, alumina prices had dropped 55% and natural gas prices were high. Ormet and LED officials began working in September to get the plant reopened.
“The restart of Ormet’s alumina facility is great news and a tremendous economic boost for Ascension Parish and the Capital Region,” says Gov. Bobby Jindal. Ormet plans to make $21 million in capital investments in the facility in Burnside. LED estimates the project will result in $19.7 million in new state tax revenue and $10.8 million in new local tax revenue over the plant’s first decade in of operation.
