Recycled Aluminum Producer to Invest $15 Million to Upgrade Plant

URLhttps://www.thomasnet.com/insights/recycled-alumin
SourceThomasNet
Date Published08/16/2022
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Hydro Aluminum Metal
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):56
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2024
Domestically, the work will be done:In-house
Capital investment ($):15
Country(ies) from which reshored:Norway
City reshored to:Henderson
State(s) reshored to:KY
If relevant, work nearshored to:-
Industry(ies):Castings/Foundries - Subset of Primary Metal Products, Primary Metal Products (not including Foundries and Castings)
Product(s) reshoredaluminum alloys
What non-domestic negative factors made offshoring less attractive?Green considerations
What domestic positive factors made reshoring more attractive?Government Incentives, Proximity to customers/market
Government Incentive dollar amount:$1 million in tax incentives
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