RICHMOND, Va. (WUSA9) -- Virginia Gov. Terry McAuliffe announced that 2,000 jobs will come to Chesterfield County via the largest Chinese investment and job creation project in state history.
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, McAuliffe announced.
The project is also the largest Chinese greenfield economic development project in the United States and will create the new jobs by 2020, according to a news release.
"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," McAuliffe said in a statement.
Tranlin's new manufacturing facility in the paper and fertilizer sectors will be located on an 850-acre campus in the James River Industrial Center. Officials expect economic benefits of this operation will be felt throughout the agriculture sector, from new demand for agricultural equipment, to new jobs for direct and indirect agricultural jobs, according to a news release.
"We are pleased that Virginia and Chesterfield County will be the site of our first U.S. advanced manufacturing operation," Hongfa Li, Chairman and President, Shandong Tranlin Paper Co., Ltd., said in a statement. "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."