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Caddo Commission Considers Investment to Bring in Elio - KTBS.com - Shreveport, LA News, Weather and Sports

Caddo Commission Considers Investment to Bring in Elio

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SHREVEPORT, La -

It could be a financial jump start for Elio Motors. The three-wheel vehicle, set to be built in Shreveport, could get a multi-million dollar boost from Caddo taxpayers.

Caddo Parish Commissioners called a special meeting of their Economic Development Committee today to discuss the investment of $7.5 million dollars that could bring the car maker, and it's 1500 jobs to Shreveport.

The committee voted to put the item on the agenda in their next parish commission meeting. In that meeting they will present the proposal to the full commission. This is how it'll work.... the $7.5 million dollars will go towards purchasing the building and facility and not directly to Elio motors. That move would secure the facility allowing Elio to move in and begin operations here in Shreveport. Commissioner John Escude said, it's a wise investment. "It's a win win for the Parish. It allows us to buy the plant which we've always wanted to do from day one at about half it's value. Plus, it allows us to control our own destiny and hopefully bring some jobs in here."

Officials say if Elio Motors comes to Shreveport, those 1500 jobs could pump $75 million dollars into the local economy. And if Elio isn't the success they're hoping it'll become the parish will still own the facility at a discounted rate and can pursue other industry into the area, and into the old GM facilities. The next Caddo Parish Commission meeting is scheduled for Monday, August 5th.

 

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