A foreign company seeking to build a U.S. headquarters in Shelbyville moved one step closer to reality Monday.

The as-yet-named company is working with Genesis Property Development of Shelbyville to secure annexation and rezoning of 67 acres of land located along State Road 44 east of the city.

The agricultural-based company wants to build a 200,000 to 300,000 square-foot facility on the property and use a portion of the acreage to grow crops that will be used in the manufacturing process.

The annexation process has come before the city in two waves.

A petition to annex into the city and rezone 26.5 acres of the land as Industrial General (IG) from Agricultural was previously approved by the Shelbyville Common Council.

At Monday’s Plan Commission meeting at City Hall, the remaining 40.5 acres, north of the 26.5-acre parcel, to be annexed and rezoned was given a favorable recommendation by the commission.

The project will now appear before the Common Council at its Dec. 5 meeting at City Hall at 7 p.m.

Genesis Property Development’s Ron Kelsay appeared before the Plan Commission Monday to provide what details about the project are available. He said a more formal media release about the company and its intent for the project will be available in the weeks following the land being annexed into the city and rezoned.

Kelsay estimates the overall investment for the foreign company is approximately $100 million.

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