Hope of New Town at Alcoa Lost
Doug Hutchison, Velocita CEO, announced recently that his company had been unable to reach a deal with Alcoa to purchase 11,000 acres to build a “green community” at the former Rockdale Operations site. As reported in the Leader in early November, the Florida based company had entered into a “Letter of Intent” with Alcoa to evaluate the purchase and transition of the 11,000 acres of the Alcoa site at Rockdale and south Milam County into one of the world’s most innovative research and development, and technology transfer complexes. The project was estimated to bring 5,000 new jobs and 3,500 residential units to the area.
Hutchison said, “The complex and contentious relationship between Alcoa and Luminant was a key factor in the purchase falling through.”