ADVOCATE STAFF REPORT
January 11, 2014
The Caddo Parish Industrial Development Board has completed its purchase of the former General Motors Shreveport Assembly and Stamping Plant, which Elio Motors said will allow the firm to move forward with building three-wheeled vehicles there.
Elio Motors will rent approximately 1.5 million square feet of the 4.1 million-square-foot building.
“This has been an extremely exciting week not just for me personally, but for the entire Elio Motors team. We’ve had an incredible amount of momentum which has led us to a new plant that will be the foundation for building the new vehicle,” said Paul Elio, CEO and founder of Elio Motors. “Plus, we also raised over $7 million to help us move forward.”
Read more: http://theadvocate.com/
Elio Motors may lack enough investors
Author: Craig Sims
Shreveport, La. -
There’s worry within the Caddo Commission that Elio Motors doesn’t have enough investors to bring the vehicle company to town. Monday, the Caddo Economic Development Committee met to discuss the new motor company. However, commissioners were advised not to disclose too much about the meeting’s purpose because it dealt with Elio’s sensitive information. Parish Attorney Charles Grubb says Elio has expressed the need for help from the parish but couldn’t disclose what kind.
“From the get go, they’ve asked for some help by the parish in terms of things that we can do in the interim to help them with some things,” Grubb said. “We’re still working on it. It’s obviously not been a very urgent matter for them because we’ve been doing it since January.”
Read more: http://www.ktbs.com/