USEUROPEAFRICAASIA中文双语FrançaisHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILEBusinessMacroCompaniesIndustriesTechnologyMotoringChina DataFinanceTop 10Home / Business / CompaniesRisever to invest $20m in new Arkansas plant
By Yuan Zhang in New York | China Daily | Updated:2017-10-27 08:37Arkansas state in the United States said on Wednesday that a Chinese company would invest $20 million in the state as it continued to gain from its strong business relations with China.Hefei Risever Machinery Co Ltd, headquartered in Hefei, Anhui province, has chosen Jonesboro, Arkansas as the site for its first facility in the US.The move comes after years of concerted effort by the Arkansas Economic Development Commission and Governor Asa Hutchinson, according to the governors office.”Arkansas is garnering international attention as a great place to do business,” Hutchinson said. “Our economic development trips to China and AEDCs 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 Jonesboros thriving business community,” the governor added.Over the past two years, four Chinese companies have announced plans to locate new facilities in Arkansas.Shandong Ruyi Technology Group, Tianyuan Garments Co, Pet Won Pet Products and Sun Paper will create an estimated 1,520 new jobs by investing $1.4 billion in the state.Risevers new manufacturing plant will be built in Craighead Technology Park, Jonesboro. It will involve a total investment of $20 million over the next five years and create 130 new jobs when fully operational. The facility will target an annual production capacity of 18,000 metric tons of steel.The companys move to Jonesboro began in 2016 with an initiative called Made in the USA. Risever spent more than a year investigating 70 possible cities in five states before choosing Jonesboro.A maker of machine parts for heavy equipment, Risever supplies manufacturers such as Caterpillar, Volvo and Komatsu with its products. It is a family-owned business founded in 1999 and employs more than 1,000 people at its facilities in China.Risever General Manager Yonggang Lai said: “Why Jonesboro? We were 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 Hutchinsons support and enthusiasm for Chinese investment, plus the citys favorable community environment and professional support for investment.”All these are key factors for our determination to invest in Jonesboro.””Jonesboro is a perfect fit for Risever. Their addition to Jonesboro will add 130 highpaying jobs to our local economy,” said Mark Young, president of Jonesboro Unlimited, a private partnership organization dedicated to the advancement of economic prosperity in the Jonesboro region.”Risever began their search with 70 cities on their list,” Young said.Related StoriesFirst China-US investment database launched in New YorkXi takes solid steps in China-US tiesChina, US work on clean energy cooperation at bilateral forum in DenverChina-US trade war leads nowhere: FMChina-US relations are key to global, regional stabilityPhotoForeigners realizing their dreams in ChinaChina-made subway trains to head for BostonBusiness opportunities hidden in steamed bread in Internet Plus eraHigh-tech innovations boosting Internet Plus economyInternational Automobile Expo kicks off in HangzhouYoung man making small flasks a big businessMost Viewed in 24 HoursState Council NewsChina’s sustainable economy brings in investment opportunitiesGovt policy moves from past weekTop 10Top 14 most powerful Chinese businesswomen in 2017Editors picksChinese fintech firms set for flurry of IPOs in US, adds C2C business modelChina DataCEOs take: China a powerful player with bright future aheadQ&A With CEOServing in the name of progressBehind an advertising visionSpecial2017 Summer DavosChinas Q1 economic dataBACK TO THE TOPHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILECopyright 1995 -var oTime = new Date();
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