New Technology Adjusts Timeframe For Virginia Plant Investment – Vastly

New Technology Adjusts Timeframe For Virginia Plant Investment.

The Washington Post (5/8, Vozzella) reports that the Shandong Tranlin Paper Co.’s plans “to build a $2 billion paper plant that would create 2,000 jobs in the Richmond suburbs,” may be delayed because “a new technology that the company has been testing in China is working so well that the firm wants to rethink how it approaches manufacturing elsewhere.” The Post reports that “in the long run, that could mean a future Virginia plant will be all the more advanced and efficient.” The company “has so far purchased about 58 acres of the land, but holds an option on a larger tract” for the project, which “would use cornstalks and straw normally left in the field after harvest to make paper.” The Post adds that the Tranlin investment is one of many Gov. Terry McAuliffe (D) made during his term, and points out that overall McAuliffe “has secured $15.9 billion in capital investment” for the state. The Richmond (VA) Times-Dispatch (5/8, Martz) reports that “legislators and economic development officials remain hopeful that Tranlin, which also operates as Vastly, will carry through with its plan to build the plant on 850 acres near the James River and Willis Road.” The Times-Dispatch also writes that Virginia “made a major commitment to regular, rigorous evaluation of its economic development incentives” in its budget process last year, according to a recent research report.