Exchange Database
Chinese paper plant to employ 2,000 by 2020
Virginia Governor Terry McAuliffe announced last week that Shandong Tranlin Paper Co Ltd, a Chinese pulp and paper company, will invest $2 billion over five years to establish its first US manufacturing operation in Chesterfield County, Va. Virginia beat out several other states for the project, which will generate 2,000 new jobs by 2020. The investment, announced on June 18, represents the largest Chinese investment and job creation project in Virginia history and is the largest Chinese greenfield economic development project in the US. Tranlin prides itself on a process that leads to an environmentally-friendly emission, which results in the discharge of clean water.
Outcomes:
The facility will be located on an 850-acre campus in the James River Industrial Center. The economic benefits to the area will be tremendous. China is already the largest customer of Virginia's agricultural and forestry products. With the central location of Virginia, Tranlin is able to access 60 to 70 percent of US consumers with a relatively small shipping cost, said Peng. Virginia has the second largest port in the US, which is essential for the company to transfer their products to other American markets.
Government?:
Yes
Type of Exchange:
business
Partners:
Virginia State Government
Shandong Tranlin Paper Co Ltd
Participants (Types):
Virginia Governor Terry McAuliffe, Jerry Peng- chairman and CEO of Tranlin
Exchange Date:
Monday, June 23, 2014
Continuing:
No
Level of Government:
state/provincial
Location:
Chesterfield County, Va
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