RACER Trust and idX Corp. have completed the sale and transfer of the former General Motors Fredericksburg Powertrain Plant property in Spotsylvania County, Va., near Fredericksburg.
The sale includes the 289,000 square-foot manufacturing building and approximately 77.1 acres. idX Corporation, founded in 1999 and headquartered in St. Louis, provides high-quality millwork, fixtures, décor and graphics to its customers, and offers manufacturing in all materials, including acrylic, glass, laminates, metal, upholstery, veneers, and wood. It will conduct manufacturing and warehouse operations in the former GM plant, located off Tidewater Trail. The company will invest financial and personal capital to prepare the building for reuse, and expects to create 150 jobs in the next three years.
The company said it hopes to begin operations in August, with full capabilities in place by later in the fall. “We could not be more excited for idX Corporation and the people of Spotsylvania County,” said Elliott P. Laws, of EPLET, LLC, administrative trustee of RACER Trust. “RACER’s mission is to maximize the reuse potential of our properties and to seek new investment and jobs for our communities. We are delighted that idX Corporation recognized the potential, the value and the opportunity in this property and wish the company continued success. Community leaders were as determined as we were to find new manufacturing jobs for this facility. We appreciate their partnership.”
“We are eager to begin the work of preparing the site for new manufacturing and to assemble what we know will be an excellent team in Spotsylvania County,” said Terry Schultz, CEO of idX Corporation. “Our company is growing worldwide, and this investment will position us to capture and service additional growth opportunities along the East Coast. We look forward to what we expect will be a long and mutually beneficial partnership with Spotsylvania County.”
“This is great news for Spotsylvania County. We’re thrilled to welcome idX Corporation to our community and eager to see the former GM plant spring back to life,” Spotsylvania County Administrator Mark B. Taylor said. “I thank Terry Schultz, Scott Stewart, and the whole idX team for their confidence in our community, Governor Terry McAuliffe and the Commonwealth of Virginia for their support, and RACER Trust for working tirelessly to market the property for beneficial reuse and new manufacturing jobs. Patience and persistence were rewarded.”