Hyundai-Venture - WSFA.com Montgomery Alabama news.

Oct. 30, 2003

Hyundai-Venture

The city of Prattville is bracing for possible news next week that could have a multi-million dollar impact on its economy.  A Michigan federal judge has scheduled a bankruptcy hearing for Venture Industries November 6th, and the outcome could mean big changes for Hyundai's largest tier one supplier. More importantly, it might raise some serious questions about 600 jobs the company was supposed to bring to Prattvile. Debbie Williams has the story.

Things couldn't be better in Prattville right now. A prestigous golf tournament is in town this week. The local high school football team is heading towards post-season play. The only blemish on the horizon seems to be a parcel of land in the industrial park that was being prepared for Hyundai supplier, Venture Industries. "Venture has a hurdle to get over, says Prattville Mayor Jim Byard, "and we hope they do that, and we'll see." According to published reports, Hyundai is trying to get out of it's contract with the bankrupt company. If that happen's there is no guarantee a new supplier will locate in Prattville.  "If venture goes away," Byard says, "we still have a marketable product, we still have a site so we feel like we will win. Of course, we want Venture. We want that 100 million dollar investment. We want the 600 jobs." Byard says the city would offer the same or similar incentives package to a new supplier and is confident this adventure will have a positive outcome. "I'd be telling you a tale if I told you I wasn't disappointed and we haven't had some struggles but a I am one that looks on the positive side and on the bright side and we'll make it through." Debbie Williams, WSFA 12 News, Prattville.

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