Kfvs12 reported that Noranda Aluminum in New Madrid will rehire 38 laid off workers.
Mr Jay Nixon governor of Missouri announced that the plant will return to full production at the plant. 38 employees were laid off in December 2008 due to decrease in the price of aluminum and increases in the cost of production. The plant reduced capacity caused by January's ice storm which decreased production by 80 percent for weeks. The company will begin the process of restarting the third of its 3 lines next weeks. Workers who were shifted to other duties will return to the production line.
Mr Jay Nixon announced the initial components of an USD 8 million economic development package designed to keep more than 900 jobs over the next 10 years.
According to Mr Nixon, job retention training and community development block grants will help retain jobs in southeast Missouri. 3 Rivers Community College will train Noranda employees in computer skills, industrial maintenance, carbon processing manufacturing procedures and safety. USD 2 million from the Missouri Division of Workforce Development will help pay for the training. A portion of the monthly withholdings tax collected by Noranda will be diverted to pay for instruction and materials to cover the costs of the training.
A USD 1 million Community Development Block Grant by the Missouri Department of Edonomic Development will help pay for upgrades at the plant. New Madrid County will receive the money then award it to Noranda as a forgivable loan.
According to Mr Nixon's office, Noranda could receive Development Tax Credits and more Community Development Block Grants. The incentive package is expected to total about USD 8 million.
(Sourced from kfvs12.com)
