Web Exclusive | December 2016
Chinese firm plans to invest in USA
A Chinese fibre manufacturer is opening a plant in South Carolina, Labon, plans to spend $3.1 million refurbishing a factory in Orangeburg, South Carolina. Hongxin Chen, general manager of Labon, said his firm is excited to be launching its first operation in the United States.
Labon’s investment continues a trend that has seen China invest almost $100 billion in the United States since 2000, buying or supporting 1,900 companies in deals that have save or created almost 100,000 jobs. The 15,700-square-foot plant in Orangeburg is expected to employ 23 people when it opens next month.
With a population of just under 14,000, Orangeburg is the capital of the South Carolina county by the same name. It is 75 miles northwest of Charleston, a larger and more cosmopolitan ocean city that’s a major tourist draw.