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WV Legislature Passes Measure To Aid Century Aluminum
By: Associated Press
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A closed West Virginia aluminum plant could benefit from a $20 million-a-year tax credit if it reopens.
The Legislature passed a special session measure Friday from Gov. Earl Ray Tomblin to aid Century Aluminum.
The California-based company has discussed restarting the Jackson County smelter it idled in 2009. About 650 people lost their jobs.
Century later halted retiree health benefits. The retirees fought to regain that coverage. They agreed Thursday to a deal that should partly restore benefits.
That agreement cleared the way for Friday's bill. It would allow the Ravenswood plant to seek special reduced rates for electricity. The utility could then recoup its costs through the 10-year tax credit.
Weak aluminum prices would trigger this arrangement.
Remaining hurdles for Century include a new labor agreement.