Troutman’s long-quiet Keystone Powdered Metal plant may be headed back into high gear, as two motorsports firms line up a roughly $25 million conversion that town leaders say could anchor racing-team operations in eastern Iredell County. The proposal would shift dozens of workers, many from a Wisconsin shop, into the area and add a smaller number of new positions, according to local officials. Town leaders have already signed off on incentives tied to the plan while the companies and the town work through final terms.
According to the Charlotte Business Journal, the pitch comes from VICCI Inc., an alliance exploring a combined move for two subsidiaries into the Keystone property. The plan would represent about $25 million in capital investment, relocate roughly 50 jobs from Wisconsin and create at least 10 new local positions. Town officials and economic-development leaders say that package would be a notable win for Troutman if it all comes together.
VICCI has been described as a partnership between Mooresville-based Riley Motorsports and Madison, Wisconsin’s Kellymoss Motorsports, two groups that already collaborate on racing programs. Town documents and council discussions show Troutman moved last year to secure and study reuse options for the Keystone property, a large industrial campus next to ESC Park, as the town weighed financing and long-term plans. Iredell Free News reviewed council materials and coverage of those meetings.
Incentives and job math
The Town of Troutman has approved incentives tied to the proposal, with local reports indicating as much as $421,902 could be available if the companies hit agreed-upon benchmarks. Officials say the funds are meant to help offset relocation and build-out costs and would be paid only after the deal’s terms and performance measures are met. The offer is part of Troutman’s push to turn the long-empty site into a productive commercial campus instead of letting it sit idle.
Why Iredell County?
Iredell County and neighboring Mooresville already host a dense cluster of race teams, fabricators and specialty suppliers that serve national series and private clients. Riley Motorsports operates out of Mooresville and remains active in IMSA competition, and regional economic-development materials highlight a growing motorsports supply chain that gives companies quick access to experienced technicians and track testing. IMSA has also highlighted the region’s racing-industry footprint.
What happens next
Officials say negotiations are ongoing and that any final agreement will depend on due diligence, financing and the companies’ internal decisions. Troutman previously authorized seeking Local Government Commission financing to purchase and renovate the Keystone property, a move that town leaders say could speed reuse talks if the firms make a formal commitment. Council members say any final purchase or incentive agreement will return to a public meeting for approval.
If the deal closes, the project would bring a prominent industrial campus back into use, add payroll to the local economy and further deepen the county’s motorsports ecosystem by turning a long-vacant plant into active manufacturing and team support space. Town officials say they will announce formal next steps once contracts are signed and the companies meet their performance benchmarks.
