Spotsylvania signed off on their deal with idX to move into the former General Motors Powertrain Plant.
Supervisors voted 7-0 during their meeting Tuesday night to finalize the deal.
Governor Terry McAuliffe announced February 7th that idX Corporation, a worldwide leader in fixture manufacturing for retail markets, would invest $7.2 million to establish a Virginia manufacturing plant in Spotsylvania County.
Virginia beat out Maryland and North Carolina for the project that will be located at the former plant on Route 2/17. The finalized agreement includes County acquisition of 48.07469 acres of land located to the rear of the plant property.
The Virginia Economic Development Partnership (VEDP) worked with the Fredericksburg Regional Alliance at the University of Mary Washington (FRA) to help secure the deal, which involved two years of negotiations between County staff and company officials.
Governor McAuliffe previously approved a $400,000 grant from the Commonwealth’s Opportunity Fund to assist the County with the project. The final deal includes Spotsylvania’s required $400,000 match of that grant.
Funding and services to support the company’s employee training program will be provided through the Virginia Jobs Investment Program.
Lee Hill Supervisor Gary Skinner says, “We now have closure on the GM Plant but the nice thing is were also getting 48 acres out of the deal so I think there’s a lot of potential to bring other businesses here. “
idX is buying the 77-acre facility that includes 250,000 square feet of industrial space, from RACER Trust. The trust, which worked to replace industrial jobs lost when the plant closed, was created by a federal judge in 2009 as part of a bankruptcy agreement to sell GM’s former assets.
The company is expected to finalize the deal any time and is moving operations from its current location in Columbia, Maryland. Company officials are planning a local job fair and expect to be operational in early June. Investment in expanding the plant and will take place over the next five years.
Jobs will be phased in during that time. County incentives for the project total $1,525,000 over the next ten years.
idX Corporation is recognized as a global leader in fixture manufacturing, logistics and project management for the retail, hospitality, financial and point-of-purchase markets. Specializing in wood, metal, glass, acrylic, laminates, veneers, and upholstery, idX has state-of-the-art manufacturing facilities across North America plus locations in Europe, Asia and Indian subcontinent to meet the needs of its global customers.
