JONESBORO, AR (KAIT) - Jonesboro Unlimited announced Wednesday that Hefei Risever Machinery Co., LTD is coming to Jonesboro.
The announcement was made at Arkansas State University's Cooper Alumni Building.
The Chinese company is expected to invest $20 million to create 130 new jobs to the area over the next 5 years.
A spokesperson for the company said Risever's search for their first U.S. based facility, which began in 2016, spanned 70 communities in 5 states. In the end, Risever chose Jonesboro.
"Jonesboro and Arkansas has an overall comprehensive, competitive capability," said Yonggang Lai, Risever's general manager. "Here is a good location, very great transportation system, perfect education system, very competitive business costs, very talented employees here and quality of life."
Mike Preston, executive director of the Arkansas Economic Development Commission said having more international companies taking interest in creating businesses in Jonesboro speaks volumes.
"It shows momentum," Preston said. "Because of the university, we have a talented workforce here in Jonesboro and in all of Northeast Arkansas that a company like this chooses to come here. It's an opportunity for students as they get their degrees, they can go out into the workforce and have jobs ready for them."
Risever is a steel fabrication company that makes machine parts for heavy equipment manufacturers like Caterpillar, Volvo, and Komatsu. The Jonesboro facility, according to Jonesboro Unlimited, will target an annual production capacity of 18,000 tons of steel.
The new facility will be built in Craighead Technology Park on East Highland Drive.
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