A press conference is set for noon today to make an announcement about the future of the former General Motors plant in Caddo Parish. Details of the announcement are being kept quiet due to a confidentiality agreement however rumors that a company called Elio Motors plans to build its vehicle at the Shreveport operations plant.

Elio is an upstart company that plans to build fuel efficient and relatively inexpensive cars at the plant. The three-wheeled, two-seated car has an anticipated price tag of $6,800 and claims to get 84 miles to the gallon on the highway.

There is speculation that as many as 1,500 employees could be hired in the first half of 2013 at the Caddo Parish facility and that the average wage for employees will be about $37.50 per hour.

The company has released a video about its vehicle and future.

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