China-based Lindenburg Industry will invest $113 million to establish an industrial honeycomb manufacturing operation in Appomattox, Virginia. The project is expected to create 349 jobs in Appomattox County.
Lindenburg’s parent company is one of the world-leading investment holdings companies in China that is focused on energy, energy conservation and environmental protection related technologies. Being a publicly-traded company in Hong Kong, EagleRide Investment Holdings Ltd. adheres to the corporate philosophy of being “positive, sagacious, enterprising and innovative.” Lindenburg will be manufacturing industrial environmental control components used in clean air emissions.
Faced with a myriad of investment opportunities available around the world, EagleRide’s investment in the United States was in part encouraged by benchmark indexes reaching all-time highs in 2013 and the fact that America is home to some of the most exceptional infrastructures in the world, Governor Terry McAuliffe’s office said. For these reasons, EagleRide Investment Holdings Ltd. has appointed various technical advisors in the U.S. to help in identifying investment prospects in energy, and environmental protection sectors.
“The U.S is characterized by low political risk, as well as an advanced level of legal protections for doing business and making investments,” says Stella Li, CEO of Lindenburg Industry, LLC and Chief Technology Officer of EagleRide Investment Holdings Ltd. “After an extensive search by our site location consultants at Development Advisors, LLC, we found the right location for our initial U.S. manufacturing operations in Appomattox, Virginia. This location provides us with an excellent business environment and the workforce talent we require to be successful. We are greatly appreciative of the support that the Town of Appomattox, Appomattox County, the State of Virginia, and Dominion Virginia Power have provided in making this project come to fruition. We also want to thank the North America Chinese Chamber of Commerce for their part in assisting with our integration into the North American economy on this particular project.”
As an incentive, Virginia Economic Development Partnership worked with the Town of Appomattox and Appomattox County to secure the project for Virginia. Dominion Virginia Power also provided support. Governor McAuliffe approved a $1.4 million grant from the Governor’s Opportunity Fund to assist Appomattox with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission approved $1.17 million in Tobacco Region Opportunity Funds.
In addition, the company will receive benefits from the Port of Virginia Economic and Infrastructure Development Grant Program. Additional funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
Governor McAuliffe said, “An investment and project of this significance is transformational for Appomattox, and the Commonwealth is honored to add another international company to its roster. I had the great privilege of meeting with company officials in Beijing, China and close this significant win during my Asia marketing mission and I am thrilled that Lindenburg Industry is establishing their first United States manufacturing operation in Virginia.”
“This project will revitalize a vacant facility, allowing quick start-up to production, and put approximately 350 people back to work in highly skilled manufacturing positions. These jobs are the stepping stones to building a new Virginia economy that will enable us to compete on a global scale, and the economic benefits that this project will bring to Appomattox and to the Commonwealth are tremendous,” he added.