The plant was purchased for over $40 million by Jacoby Development, Inc. in June 2008. Demolition of the plant began in August 2008 and was expected to take one year.
In May 2011 Porsche North America announced plans to spend $80-100 million to move its North American headquarters from Sandy Springs to Aerotropolis Atlanta, including a new office building and test track. Porsche will receive about $15 million in economic incentives to do so including a $10 million tax break as Aerotropolis is in an "enterprise zone". In August 2012, Porsche building permit filings with the City of Atlanta revealed more details of the project's ambitious scope and cost.
Initiatives
In addition to the redevelopment in the area, AeroATL is also reinvesting in the community, by focusing on economic, community, and logistical development, with the goal of helping the area prosper.
2024 Leadership Structure
There is an executive committee, made up of prominent community members and investors, as well as a Board of Directors