Monday, May 14, 2007

Georgia Snags Another Major Chinese Manufacturer;Ports of Savannah, Brunswick Standing By
General Protecht U.S., Inc. Expected to Bring 240 Jobs, $30 Million in

Savannah Business Report

(ATLANTA, GA) Governor Sonny Perdue announced on Friday that Georgia has recruited another major Chinese manufacturer. General Protecht U.S. Inc., a subsidiary company created by a joint venture between China-based General Protecht Group and Atlanta-based Heritage Capital Advisors LLC, is expected to bring 240 jobs and $30 million of investment over two years to Barnesville, in Lamar County south of Atlanta.

"Last summer we announced a double-hitter in building ties between China and Georgia - that we were opening a trade office in Beijing and that the state had recruited its first Chinese manufacturer," said Governor Sonny Perdue. "Today our relationship has expanded again, and I look forward to forging even stronger ties during our trip to China in October."

General Protecht will purchase more than 200 acres in Barnesville to build an assembly and distribution facility for electrical products, wired devices and other related products.

"We chose metro Atlanta and Georgia because of its position in the heart of the nation's most attractive region." said General Protecht Chairman and CEO Wusheng Chen. "Lamar County offers a tremendous workforce, excellent business and political leadership, and plenty of room for expansion in the future. We will be able to receive components and parts easily from the Port of Savannah and assemble and distribute our final products through Atlanta's outstanding logistics infrastructure. All of this region's pieces are ideal for General Protecht as we take this important step in further developing our U.S. presence."

"As entrepreneurs, we are honored to be General Protecht's business and investment partner in the United States, a partnership which is truly groundbreaking," said John Ray, president of Heritage Capital Advisors, LLC. "As residents of Georgia, we're delighted that the state's business attributes became so compelling after an exhaustive search across a number of different states."

Last June, Chinese food products manufacturing company Kingwasong LLC announced that it would locate a plant in Newnan. This project is expected to create 200 jobs within two years and attract $12 million to $15 million in new investment to the area.

"We are able to attract Chinese manufacturers half a world away because we've got everything they need - a home base located in the heart of the nation's fastest growing metro area, a low cost of doing business and access to the world through our international airport," said Hans Gant, senior vice president of Economic Development of the Metro Atlanta Chamber of Commerce, which took an active role in encouraging the project. "Now we're working on attracting a Chinese consulate to Atlanta and a direct air route to China. That combination is what we need to usher in a wave of Chinese investment."

"We welcome General Protecht to Barnesville and Lamar County, and we look forward to the diversity and strength it adds to our industrial base as well as our community's cultural fabric," said Kenneth Roberts, chairman of the Barnesville Lamar County Industrial Development Authority.

"We have worked aggressively to lay the groundwork and provide the resources necessary to attract this type of quality economic development. It has been a pleasure to work with the company, Metro Atlanta Chamber of Commerce, GDEcD, DCA and the many other players who partnered to bring this great company to Georgia."

China is Georgia's third-largest export destination at $1.1 billion last year, moving up from sixth in 2005. Exports to China from Georgia grew 11 percent from 2005 to 2006 and increased a whopping 178 percent in just six years.

Trade to and from China flowing to Georgia through Atlanta, Brunswick and Savannah totaled $12.1 billion in 2005, ranking Georgia as the sixth-largest port in the United States for imports and exports with China and the second largest port on the East Coast. According to the Georgia Ports Authority, China and Hong Kong accounted for more than 40 percent of its annual trade.

Numerous Georgia companies have operations in China, including UPS, GE Energy and Delta Air Lines, which has announced its intention to seek direct service from Atlanta to Shanghai. Over half a dozen Georgia universities have connections with China, including Georgia Tech's partnership with Shanghai Jiao Tong University. Georgia's Chinese community of approximately 24,000 people is served by the Chinese consulate in Houston. Georgia officials are actively pursuing the establishment of a new consulate in Atlanta. The Georgia economic development office in Beijing, set to open this year, will be Georgia's 11th international office.