Spacey turns inventor
The plot follows the life of an inventor turned billionaire who is jailed when one of his creations goes horribly wrong.
After spending eight years in a federal prison, he returns to try to rebuild his billions, along with his reputation.
Trent Cooper (Larry the Cable Guy: Health Inspector) will direct and Jonathan Krane and Nichole Beattie have been brought in to draft the script.
Spacey, who won two Oscars for his roles in American Beauty and The Usual Suspects, has in recent years focused more attention on the stage since becoming artistic director of the Old Vic theatre in 2003.
The 49-year-old also proved his versatility by directing, producing, co-writing, singing in and starring in 2004's Beyond the Sea a biopic about Mack the Knife crooner Bobby Darin.