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Alcoa, state near power deal

Alcoa and the New York Power Authority are getting closer to an agreement that would keep the aluminum maker in Massena. But reports that a deal is imminent appear premature. A spokesperson for Governor Eliot Spitzer told the Watertown Daily Times "what you're hearing isn't quite what is actually going on." Alcoa and the state signed a confidentiality agreement earlier this month. The two sides are negotiating a new contract to give Alcoa low-cost hydropower produced at the dam on the St. Lawrence River. Alcoa has offered to guarantee 900 jobs and a $600 million renovation at its two plants in Massena. Currently about 1,200 people work there now. Alcoa spokeswoman Susan Flynn told the Times that "progress is being made" in the talks. Speaking in Potsdam last month, Governor Spitzer said he wants a deal done by the end of the year.

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