IDB Chairman sets record straight about Elio

Chairman of Caddo Industrial Development Board addresses rumors, Elio & GM plant

SHREVEPORT, LA - Elio and the former General Motors plant, once again hot topics at a Caddo Commissioners meeting.
 
"We need to focus on the bigger picture and be patient and not be so concerned about the Elio proposition."
 
At Thursday's Caddo Parish Commission meeting the chairman of the Industrial Development Board tries to clear up rumors, misinformation and address concerns about the future of Shreveport's General Motors plant.
 
Gard Wayt says, "This is being handled responsibly.  The parish made a heck of a deal to keep that plant from being destroyed."
 
Elio Motors needs $376 million to begin production in 2018.
 
"If Mr. Elio is successful in raising the money he needs to start manufacturing... more power to him, but there will still be 60 percent of that plant that will be available for use by other industrial prospects."
 
Glovis along with Elio have space inside the plant, but IRG is working to find a company to fill the remaining space.
 
According to Wayt, IRG is in talks with four potential companies.
 
"These things just take a long time to develop.  You don't fill three million square feet of industrial property overnight." 
 
IRG pays more than $60,000 a month in rent and pays thousands of dollars for the up keep of the facility.
 
 

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