My Massena friends and family, wasnt your electric bill extremely high last year? Do you think it might have do with the subsidies (corporate welfare) that Alcoa received? Alcoa Subsidy Value: $5,600,000,000 Program Name: discounted electricity Awarding Agency: New York Power Authority Capital Investment: $600,000,000 The state-owned New York Power Authority agreed to provide the company with electricity at about one-quarter of the standard rate, saving it an amount estimated by the Buffalo News at $185 million per year, or $5.6 billion over the 30-year life of the agreement. Good Jobs First contacted the Power Authority to confirm the estimate, but the agency did not provide a substantive response. In exchange for the discount, Alcoa agreed to invest $600 million in its Massena facility and not to eliminate more than 165 of its 1,065 workers there. Finalization of the deal was delayed until 2013 while Alcoa obtained approval from the U.S. Environmental Protection Agency of its plan to clean up PCB contamination in a portion of the Grasse River. subsidytracker.goodjobsfirst.org/subsidy-tracker/ny-alcoa
Posted on: Fri, 21 Nov 2014 23:11:09 +0000