Studies show Alcoa’s Mt. Holly Operations has nearly $900 million annual economic impact on South Carolina
September 7, 2011
GOOSE CREEK, SC, September 7, 2011 - Alcoa Mt. Holly has a nearly $900 million annual impact on the South Carolina economy, according to the results of two economic studies the company issued today. The Goose Creek aluminum manufacturer is responsible for nearly 4,000 jobs statewide and generates $110 million in local and state revenues, as stated in the studies.
Completed by the Charleston Metro Chamber of Commerce Center for Business Research and the Strom Thurmond Institute Regional Dynamics and Economic Modeling Laboratory, the studies analyzed the economic impact of plant operations on the local and statewide economies.
“Alcoa Mt. Holly provides stable, family-wage jobs for approximately 560 employees and 80 contractors, but our impact extends far beyond our direct jobs,” said Mike Rousseau, Plant Manager. “We commissioned the studies to get a better understanding of our impact on the region. We’re pleased to know that Mt. Holly’s operations are responsible for so many jobs and so much income.”
Mt. Holly is currently in discussions with Santee Cooper to secure a new, long-term power contract. The plant must give notice by June, 2012 if it plans to continue its current contract.
The studies examined the economic and fiscal impact of Mt. Holly operations by utilizing annual facility output, number of employees, total compensation and capital expenditures.
- The plant’s overall economic impact is nearly $900 million a year statewide, with an $800 million a year impact on the TriCounty area.
- The annual average wage and benefits for employees of Mt. Holly is valued at $91,000.
- Mt. Holly is responsible for approximately 3,000 jobs in the TriCounty region and 4,000 statewide as a result of direct, indirect and induced impacts.
- Mt. Holly operations generate approximately $25 million in revenues to local governments and $85 million to state government annually.
- In addition to the economic impact of plant operations, the Alcoa Foundation is responsible for more than $1 million in grants to the region’s non-profit community.
"Clearly, the financial impact we have on the region is significant," said Rousseau. "We’ve been an important part of South Carolina since we opened our doors in 1980, and have enjoyed a strong partnership with our community that has allowed us to continue to have such a positive impact.”
About Alcoa Mt. Holly
The Mt. Holly plant is jointly-owned by Century Aluminum and Alcoa Inc., the operating partner. The facility, opened in 1980, produces primary aluminum ingot for home and commercial construction, transportation and other industrials. Mt. Holly currently employs 560 people and has a nearly $900 million annual economic impact on South Carolina. Mt. Holly was named a finalist in Industry Week Best Plants Competition finalist in 2010 and Silver Crescent Large Manufacturer of the Year in 2009.