On Wednesday at the Virginia State Capitol, Governor Terry McAuliffe announced that a Chinese paper company will establish its first advanced manufacturing operation in Chesterfield, creating 2,000 jobs in the area.
Shandong Tranlin Paper Co., Ltd., described as a "leading Chinese pulp and paper company," will invest $2 billion over five years to establish the plant. This will mark the largest Chinese investment and job creation project in Virginia history.
Gov. McAuliffe said during his announcement:
"An investment of this magnitude, with the creation of 2,000 new jobs by 2020, represents the largest Chinese greenfield economic development project in the United States, and shows how Virginia is leading the way in attracting innovative businesses to the Commonwealth. Advanced manufacturing jobs are the heart of a strong and growing 21st century economy, and this investment symbolizes the economic recovery taking place across the nation, and will be transformational for the economy of Chesterfield County and the surrounding region."
The new facility will be located on an 850-acre campus in the James River Industrial Center. The economic benefit to farmers in the region could exceed $50 million per year once the project is operating at full capacity.
"We are pleased that Virginia and Chesterfield County will be the site of our first U.S. advanced manufacturing operation," said Mr. Hongfa Li, Chairman and President, Shandong Tranlin Paper Co., Ltd. "Virginia has abundant resources of agricultural stalks, power and water supply, manpower, and a strong transportation system-all necessary tools that guarantee Tranlin's future development. More importantly, the Virginia team's flexibility, patience, teamwork, cooperation, and above all, passion for foreign investment, factored into our decision. After an in-depth feasibility study that occurred over the past year, we have all the reasons to say "Yes, Virginia."
Chesterfield County leaders are also very excited about this development.
"This announcement is the largest in the history of Chesterfield County," said Jim Holland, Chairman of the Chesterfield County Board of Supervisors. "It is very fitting that our county was founded on an international investment and now, over 400 years later, we are still celebrating why we continue to be a great location for companies from around the world. Welcome Tranlin, to Chesterfield County. We look forward to your continued growth and success."Copyright 2014 by Young Broadcasting of Richmond
301 Arboretum Place, Richmond
Can't find something?
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.