RACER Trust Promoting Development Opportunities to Global Audience at SelectUSA Investment Summit
RACER Trust today announced that Redevelopment Manager Bruce Rasher and Deputy Redevelopment Manager Patricia Spitzley are participating in the 2019 SelectUSA Investment Summit in Washington, the highest-profile event to connect global companies and U.S. economic development organizations to facilitate business investment in the United States.
The SelectUSA Investment Summit is one of several national and regional investment and marketing events that RACER Trust participates in each year as it works to position its portfolio of commercial and industrial properties for sale and beneficial reuse.
RACER Trust’s successful marketing efforts have resulted in more than 70 closed transactions, with buyers pledging, in aggregate, more than $2.2 billion in private investment and 16,000 new jobs for communities across the Midwest and Northeast.
“RACER Trust is diligent in our work to market our properties and host communities for the purpose of securing buyers whose investments will create new jobs, new tax base and other local benefits,” said Elliott P. Laws, of EPLET, LLC, administrative trustee of RACER Trust. “By participating in events like the SelectUSA Investment Summit, RACER Trust keeps opportunities in RACER communities in the forefront and positions our properties for reinvestment and reuse as quickly as possible.”
As part of its participation in the SelectUSA Investment Summit, RACER Trust has been an annual sponsor of an evening reception that brings together leaders of economic development organizations in RACER Trust states and communities with business leaders from Canada who are exploring investment opportunities in the United States. RACER Trust also has facilitated discussions between representatives of its host communities and prospective foreign investors from around the globe as part of its mission to attract new investment and jobs.
About RACER Trust: RACER (Revitalizing Auto Communities Environmental Response) Trust was created to clean up and position for redevelopment properties and other facilities owned by the former General Motors Corp. before its 2009 bankruptcy. RACER is one of the largest holders of industrial property in the United States, and when it was formed was the largest environmental response and remediation trust in U.S. history. When the Trust was formed, it owned properties at 89 locations in 14 states, principally in the Midwest and Northeast. The Trust was created by a settlement agreement in the U.S. Bankruptcy Court between the U.S. Government, the 14 states where the former GM properties are located, and the St. Regis Mohawk Tribe, which owns land adjoining one of the properties in Upstate New York. For more information, please visit our website: www.racertrust.org.