RICHMOND, VA , June 18, 2014 (Press Release) -
Governor Terry McAuliffe announced today at the Virginia State Capitol that Shandong Tranlin Paper Co., Ltd., a leading Chinese pulp and paper company will invest $2 billion over five years to establish its first U.S. advanced manufacturing operation in Chesterfield County. The investment represents the largest Chinese investment and job creation project in Virginia history and is the largest Chinese greenfield economic development project in the United States. Virginia successfully competed against several other states for the project, which will create 2,000 new jobs by 2020.
Speaking at today's announcement, Governor McAuliffe said, "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 opportunity to welcome a leading, global company's first U.S. manufacturing operation and simultaneously strengthen Virginia's relationship with China is invaluable. Economic development is a team effort, and it is the collaboration of the entire team that helped to convince Tranlin that Virginia is the best site for its U.S. operation. We are therefore partnering with the Major Employment and Investment Commission, and are confident this project will bring international attention to the thriving advanced manufacturing industry in the Commonwealth."
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