Monday, August 30, 2010

Coming to America.........Chinese Manufacterers

    Because the Chinese have been buying or debt for years, it should be of no surprise that they are now setting up shop here.  This seems to be fine with some local governments as people need jobs, but this will certainly give a new meaning to 'Made in America' being the outcry to have all projects be supplied with American made products. Let us not forget that our jobs were sent overseas by our government years ago and we called it free trade, but was it and is it now?  Will these new factories be run by union or non-union workers? 

   

A growing number of Chinese manufacturers are setting up shop in the United States. In these tough times, economic development agencies are welcoming them with open arms.


In late July, Hong Kong-based Mamtek International Ltd. broke ground on a new manufacturing plant in Moberly, Mo. The plant, which will produce a no-calorie sugar substitute called Sweet-O, is expected to create more than 600 jobs over the next few years and pump $46 million into the local economy.
The new plant will be a godsend for the city of Moberly, where job losses in the manufacturing sector have contributed to a nearly 10% unemployment rate. But Mamtek's commitment to build a greenfield plant in Moberly was no miracle. The city sold $39 million in bonds to help finance the construction of the facility, and the state kicked in $14.4 million in tax credits and $2 million in Community Development Block Grant funds, among other incentives.
The groundbreaking took place just 90 days after Mamtek executives first visited Moberly -- a breakneck pace in the world of economic development.
 

1 comment:

  1. Thanks for posting this! I always like visiting your blog!!

    Steve
    Common Cents
    http://www.commoncts.blogspot.com

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