Wealth Creation — Approach
Wealth creation is the cornerstone of our approach to economic development. It is by creating wealth that Alcoa can, in a sustainable manner and over the long term, act as a driving force in Québec, and particularly in the regions where our facilities are located.
In Québec, the development of hydroelectric power and aluminum has progressed hand-in-hand since early days. This is why the province occupies an enviable position in both industries worldwide. The agreement between Alcoa and the Government of Québec, reached on March 4, 2008, assures that this winning partnership will continue to grow over the coming decades, notably with the modernization of the Baie-Comeau Smelter and, eventually, with the expansion of the Deschambault Smelter.
Alcoa Canada Primary Metals provides more than 3,300 direct jobs in Québec, which are among the best-paying jobs in the industrial sector. The economic spin-offs from our activities in the province totalled $1.6 billion in 2008, a figure that will significantly increase with upcoming projects. Moreover, our commitment to wealth creation, implemented primarily on a regional basis, will consolidate Alcoa's place as a privileged partner in the areas where our facilities are located.
Alcoa is not only a major player in secondary aluminum processing in Canada (i.e. aluminum rods, which are manufactured at the Baie-Comeau Smelter and the rod plant in Bécancour) but also in the many other sectors where its various business units operate: aeronautics, commercial transportation and aluminum architectural systems.
The Business Development function, which supports Alcoa’s corporate approach in Québec, is dedicated to wealth creation in Québec through the development of new partnerships focused on aluminum processing.
By adopting a sustainability approach to our organic growth, we seek to contribute to the development of the regions where our facilities are located and provide significant economic and social benefits at the long-term, grassroots level.
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Further information
For further information on Alcoa Canada’s aluminum processing activities, check out “Made in Canada by Alcoa”.
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Read more about the agreement with the Quebec Government to support the growth of Alcoa's activities in Quebec
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