Government agency pays $7.5M for former GM plant
SHREVEPORT, La. (AP) — Caddo Parish's Industrial Development Board now owns the former General Motors facility in Shreveport.
KTBS-TV reports (http://bit.ly/KcaGbE ) parish officials closed the deal Friday afternoon to buy the plant from RACER Trust for $7.5 million.
RACER Trust was created when General Motors went bankrupt to dispose of closed facilities.
The industrial development board will own the plant but contract management to a company called Shreveport Business Park, run by an industrial real estate agent.
The management company will be allowed to lease parts of the factory. Prospective tenants include Elio Motors, which wants to assemble a three-wheeled vehicle there.