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http://www.ledlouisiana.com/news–multimedia/news-releases/new-american-car-company-will-make-history-in-louisiana.aspx MONROE, LA-The Louisiana Economic Development Department announced yesterday that V-Vehicle Co., a start-up auto-maker based in San Diego, CA, will take over a shuttered 425,000-square-foot plant to develop new, fuel-efficient and environmentally-friendly cars. A release from the department says the $248 million plant will employ up to 1,400 people when fully functioning, while providing close to a $20 billion economic impact to the region.

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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