Arkansas gets more business from China

By Yuan Zhang | China Daily USA | Updated: 2017-10-26 10:33

Arkansas gets more business from China

Yonggang Lai, general manager of Hefei Risever Machinery Co Ltd, speaks while Arkansas Governor Asa Hutchinson (left) and Jonesboro Mayor Harold Perrin (right) look on, at the Hefei Risever investment agreement signing ceremony held in Jonesboro, Arkansas, on Wednesday. PHOTO PROVIDED BY JONESBORO UNLIMITED

Arkansas announced on Wednesday a new $20 million Chinese investment in the state, thanks to its increasingly stronger business relations with China.

Hefei Risever Machinery Co Ltd, headquartered in Hefei, China, has chosen Jonesboro, Arkansas, as the site for its first facility in the United States.

The addition of Risever to Arkansas comes after years of concerted effort by the Arkansas Economic Development Commission (AEDC) and Gov Asa Hutchinson, according to the governor's office.

"Arkansas is garnering international attention as a great place to do business," Hutchinson said. "Our economic development trips to China and AEDC's presence in China are paying dividends."

"Risever is the latest example of several Chinese companies that have selected Arkansas because of these relationships, as well as our skilled workforce and cost of doing business. I wish them much success as they join Jonesboro's thriving business community," the governor added.

Over the last two years, four Chinese companies have announced plans to locate new facilities in Arkansas. Shandong Ruyi Technology Group, Tianyuan Garments Company, Pet Won Pet Products and Sun Paper will create an estimated 1,520 new jobs by investing a total of $1.4 billion in the state.

Risever's new manufacturing plant, to be built in the Graighead Technology Park, Jonesboro, will involve a total investment of $20 million over the next five years and create 130 new jobs when ful-y operational.

The facility will target an annual production capacity of 18,000 tons of steel.

Risever's move to Jonesboro began in 2016 with an initiative called "Made in the USA". The company spent more than a year investigating 70 possible cities in five states before choosing Jonesboro.

Risever is a maker of machine parts for heavy equipment, supplying manufacturers like Caterpillar, Volvo and Komatsu. A family-owned company founded in 1999, Risever employs more than 1,000 people at its facilities in China.

Risever general manager Lai Yonggang said, "Why Jonesboro? We are convinced by its great location, convenient transportation system, full-fledged industrial base and supply chain, well developed industrial park, competitive business costs as well as professional talent, coupled with Arkansas' and Governor Hutchinson's support and enthusiasm for Chinese investment, plus the city's favorable community environment and professional support for investment.

"All these are key factors for our determination to invest in Jonesboro," Lai said.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349