SIGNING DEAL: Governor in China.
Gov. Asa Hutchinson
said this morning that a Chinese garment manufacturer
plans a $20 million factory in Little Rock that will employ 400 at $14-an-hour wages.
Hutchinson talked with reporters by phone from a China trade trip.
He he said the jobs involve robotics, unlike the cut and sew operations of old that have gone to low-wage countries. The Suzhou Tianyuan Garments Company will make Adidas apparel.
The AEDC provided this fact sheet:
Tianyuan's Project Parameters
*Hire 400 full-time permanent employees within 4 years of start of operations
* Invest $20 million for equipment, purchase building, and make capital improvements to the building
* Locate and operate an apparel manufacturing facility in Little Rock, Arkansas
* No specific location has been determined at this time
AEDC's Incentive Offer
* Five (5) years of Create Rebate @3.9% - estimated benefit is $1,590,000
* Tax Back Program - estimated benefit is $134,000
* $1,000,000 Infrastructure Assistance Grant for building improvements and/or equipment purchases at the selected building in little Rock,Arkansas
* $500,000 for training
* AEDC will provide assistance in the form of a letter of support from AEDC for Tianyuan's applications for 20 work visas for Tianyuan's employees
* PILOT (Payment in Lieu of Taxes) Agreement with Little Rock and Pulaski County to abate up to 65% of property taxes
Here's the full memorandum of understanding.
UPDATE: Here's an article about how Adidas,
a German company, was hoping to move shoe production closer to customers through robotics.