April 13, 2011
FOR IMMEDIATE RELEASE
April 13, 2011
Contact: Sonya Moste, Director of Marketing and Public Relations
Novelis Adds Jobs With Assistance From
Atlanta Development Authority
ATLANTA – This week, the Atlanta Development Authority (ADA) meets its commitment to Novelis Inc. by providing a $150,000 relocation grant from its Economic Opportunity Fund (EOF). The EOF is a deal-closing fund, created in 2006, that ADA manages on behalf of the City of Atlanta to entice significant business investment and job creation projects.
With the EOF offer in place, Novelis Inc. announced in February 2010 that it would expand its Atlanta headquarters and consolidate operations from Cleveland, Ohio, adding 135 new jobs over two years to their existing 90 employee headcount. Novelis has already exceeded its commitment to ADA by adding 150 new jobs and retaining 90. In addition, Novelis has invested nearly $14 million in 100,000 square feet of leased space in the Two Alliance building located on Lenox Road in Buckhead.
"Recruiting companies and creating well-paying jobs in the city and metropolitan Atlanta region are among my top economic development goals," said Atlanta Mayor Kasim Reed. "The partnership between the Atlanta Development Authority and Novelis Inc. shows the importance of development incentives in attracting and retaining leading companies in Atlanta. The expansion of the Novelis Inc. headquarters in the city will create 150 new jobs and put residents back to work."
Philip Martens, president and chief executive officer of Novelis, said, “We are pleased with the decision to expand our company presence in Atlanta. It made good business sense to consolidate our North American operations with our Atlanta based global headquarters. Thank you to the Atlanta Development Authority and the Metro Atlanta Chamber for your support.”
ADA worked closely with the Metro Atlanta Chamber and the State of Georgia to help make the case for the Atlanta location by providing a variety of financial and technical assistance. Novelis indicated they considered making this investment in locations other than Atlanta.
“We’re delighted that we could help entice Novelis to expand its Atlanta headquarters. We look forward to a long-term relationship with the company as it continues to grow,” said Gregg Simon, manager of business engagement for ADA. ”The Deal Closing Fund has been an instrumental tool in convincing businesses like Wipro, Kemira, Habitat for Humanity and the College Football Hall of Fame to locate in the City of Atlanta.”
Novelis Inc. is the global leader in aluminum rolled products and aluminum can recycling. The Company operates in 11 countries, has approximately 11,600 employees and reported revenue of $8.7 billion in fiscal year 2010. Novelis supplies premium aluminum sheet and foil products to automotive, transportation, packaging, construction, industrial, electronics and printing markets throughout North America, Europe, Asia, and South America. Novelis is a subsidiary of Hindalco Industries Limited (BSE: HINDALCO), one of Asia's largest integrated producers of aluminum and a leading copper producer. Hindalco is a flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India. For more information, please visit www.novelis.com.
ABOUT ATLANTA DEVELOPMENT AUTHORITY
The Atlanta Development Authority is the official economic development agency for the city of Atlanta. ADA represents intown Atlanta, which has a population of 420,000 and growing. ADA is a research-based economic development organization, focused on residential, business and investment growth in the city. Visit www.atlantada.com.