Gov. Rick Snyder leading seventh mission to China to promote business investment, tourism in Michigan
Gov. Rick Snyder leading seventh mission to China to promote business investment, tourism in Michigan
Goals are to increase trade for Michigan products, further develop economic relationship
Friday, July 28, 2017
LANSING, Mich. – Gov. Rick Snyder is leading a nine-day investment mission to China, focusing on promoting job-creating business growth and attracting investment in Michigan, while also pushing the state as a tourism destination.
Snyder will meet with government officials, industry executives, educational leaders, and key media in China, departing Michigan on Sunday, July 30, and returning Tuesday, Aug. 8.
“We have built strong relationships in China since our first mission in 2011. Chinese investment in Michigan has increased dramatically since then and we’ll continue to make the case that there is no better place in North America for Chinese companies to expand and create jobs than in Michigan,” Snyder said. “As Chinese travelers are now going all over the world and the United States more, this is a great opportunity to tell people about Pure Michigan tourism.”
Snyder will visit Beijing, Guangzhou, Shenzhen, Chengdu, Shanghai, and Hangzhou, where he will promote Michigan business opportunities, make a series of company visits, and connect with senior government leaders. He will participate in exchange forums in Guangdong and Sichuan that will include mutual foreign direct investment, trade, tourism agriculture and education. Snyder also plans to hold media roundtables following the forums, and will meet with business reporters while in Shanghai.
The investment mission will be led by the Michigan Economic Development Corporation. Concurrent with the governor’s mission, MEDC is leading 10 Michigan companies to China to meet with prospective business partners, distributors and buyers to increase export opportunities from Michigan to China.
Also joining Snyder on the mission is Michigan Department of Agriculture and Rural Development Director Jamie Clover Adams, who will continue to explore opportunities for Michigan food and agriculture products in the Chinese market. This is Clover Adams’ fifth trip to China.
In 2016, Michigan ranked number two in the nation for number of investment projects from China. Michigan also ranked number three in the nation for number of jobs created by Chinese investment and number four for total capital investment. Between January 2010 and July 2017, Michigan received $1.1 billion in new business investment from China. Recent Chinese investments in Michigan include:
- Kingfa Science & Technology (USA), Inc.: In February 2017, Kingfa, a subsidiary of China-based Kingfa Sci & Tec Company, Ltd., announced it was planning to expand its manufacturing operations in Canton Township, investing $60 million and creating 150 jobs related to the production of engineering plastic resins. The project was supported by the Michigan Strategic Fund with a $1 million Michigan Business Development Program performance-based grant.
- Yanfeng Automotive Interiors: In January 2017 Yanfeng, a subsidiary of Wenzhou, China-based Yanfeng, announced it was planning to establish a state-of-the-art southeast Michigan headquarters and technical center for instrument panel engineering and testing in the city of Novi, investing $8.45 million and creating 60 jobs. The project was supported by MSF with a $600,000 Michigan Business Development Program performance-based grant.
- Zhongding USA Cadillac: In August 2016, Zhongding, a subsidiary of Anhui Zhongding Sealing Parts (Ningguo, China) announced it is expanding its manufacturing facility in Cadillac, investing $4.3 million in a new building and new equipment to venture into the heavy truck and agriculture industries. The project is expected to create 125 jobs. The project was supported by MSF with a $600,000 Michigan Business Development Program performance-based grant.
- Karma Automotive LLC: Karma designs and manufactures luxury hybrid vehicles. In June 2016, the company, which is a subsidiary of Chicago-based Wanxiang North America, will establish an automotive engineering and purchasing hub in Troy to house operations supporting its California-based supply chain activities and automotive production. The project is expected to generate more than $3.6 million and create up to 150 jobs, resulting in a $450,000 Michigan Business Development Program performance-based grant.
Source: FDI Markets
The trip marks the Snyder administration’s seventh mission to China. Other missions led by Snyder or Lt. Gov. Brian Calley have included France, Japan, South Korea, Canada, the Netherlands, Brazil, Mexico, Israel, Chile, Columbia, India, Switzerland, Germany, Italy, Ireland and Great Britain. The missions have resulted in hundreds of millions of dollars of investments in Michigan by foreign companies adding jobs to Michigan’s workforce.
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