IBJNews

Carbon Motors still part of plan to revive Connersville plant

Back to TopCommentsE-mailPrintBookmark and Share

Connersville Mayor Leonard Urban says the city east of Indianapolis has agreed to sell a vacant Visteon auto parts plant for approximately $4 million to a buyer specializing in returning such sites to the tax rolls.

Urban briefed the City Council and the Board of Public Works Tuesday about "a buyer that wants to put jobs" in the factory that auto parts maker Visteon closed in 2007 and sold to the city two years later.

Urban said a Carbon Motors Corp. police car plant still proposed for the site would fill about a third of the space. When Carbon lost out on a $310 million federal loan in March, it threw its Connersville prospects into doubt, but Urban says Carbon is lining up new capital. Carbon Motors announced in 2009 that it would hire 1,500 workers to build high-tech police cars in the plant, which the city bought from Visteon.

The Connersville News-Examiner reported that Urban said the sale should close by Dec. 20. Urban said in a telephone interview that he can't reveal the name of the buyer until the deal closes. But he said the deal means that the city about 50 miles east of Indianapolis will recover most of the more than $4 million in environmental cleanup costs it has spent.

After losing out on the federal funding, Carbon added a venture capitalist to its board of directors to help raise the millions of dollars needed to get the project off the ground.

"They're out raising capital. Things are going right down the road like they're supposed to," Urban said.

Carbon Motors' Chairman and CEO William Santana Li said Wednesday that the company is trying to get private funding for the project and still hopes to open a plant in Connersville.

"This doesn't change anything for Carbon Motors. All this means is that we may or may not have a new landlord," he said.

Urban said the new owner of the plant would work to fill the space Carbon doesn't need.

The Indiana Economic Development Corp. is working with the city and the proposed new buyer while still working on a deal between the city and Carbon Motors, spokeswoman Katelyn Hancock said.

 

ADVERTISEMENT

  • Venture Capitalist
    Great idea - we have been "going" to employ 1500 people in Connersville SINCE 2009. We've been on this project - first in Atlanta GA - since 2005. So NOW - we think its a good idea to bring on a venture capitalist to help us raise the money. HELLO - they are FOOLS.
  • LSP
    Is this the same LSP Energy that filed Chapter 11 in FEB relative to their MS projecT?
  • Connersville
    Word on the street is that LSP Energy is getting new $$ from the Dept of Energy and buying the building.

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

ADVERTISEMENT