China's Product, Georgia's Pride

With China's economy on the upswing, Georgia economic developers have been courting investment from the foreign power. Yesterday, the third Chinese company in 15 months has announced that it will be moving to the state. (Remember when it was American companies scrambling for Chinese manufacturing?)

Sany Heavy Industry Company, a China-based maker of construction equipment, will construct a $30 million plant on a 241-acre site in Peachtree City, Georgia. The plant, expected to be in operation by 2009, will create 200 jobs initially, and potentially up to 600 jobs in 10 years.

Sany will be receiving declining property abatements which will save the company around $2.2 million; Peachtree City and Fayette County split $200,000 donation to buy the $6.5 million site.

Says Governor Sonny Perdue:

It hasn't happened by accident. We've been in Asia and China looking for relationships and partnerships.

And so it is.

Sources: Atlanta Journal Constitution, MSN Money, Sany