The plant, which sits on 190 acres at 11000 Millhaven Rd., was selected following a close to year-long process carried out by KPMG. The release points out that KMPG and V-Vehicle evaluated approximately 400 potential sites in 10 different states. The Monroe site was chosen because of infrastructure, workforce availability and training and financial incentives.
The state's financial incentives include Louisiana FastStart, a turnkey workforce initiative that assists with training and recruitment. Also in the package is approximately $67 million, which will be used to fund improvements and expansion at the facility.
V-Vehicle Co. was launched by CEO Frank Varasano. Investors in the company include venture capital firm KPCB and T. Boone Pickens. Read more about the company and new plant here.
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