SANY Heavy Industry of China plans to add a research and development center at its North American facility in Peachtree City, Gov. Nathan Deal announced from China where he and officials from Georgia are on a weeklong economic development mission.
The expansion is expected to add about 300 jobs, and the company plans to invest $25 million in the project.
SANY would hire 300 mechanical and hydraulic engineers over the the next three to five years, with hiring to begin in about a year. Hiring will be handled by the Georgia Department of Labor.
The addition of the research and development unit -- and the jobs and investment it is expected to bring -- would help fulfill the promise of the Peachtree City project, which was first announced in 2007. Back then, about 600 employees were expected to eventually work at the complex.
Delays attributed to the economy and to the complexity of foreign projects slowed development. But state officials said the 300 new jobs, combined with the 200 other positions that are expected to be created by the end of 2012, would bring SANY hiring close to that target number. Currently, there are about 100 employees.
SANY's Peachtree City complex makes specialized cranes and lifting equipment for the construction industry. It also houses sales, procurement and engineering offices.
"SANY's decision to choose Georgia for its expansion, as well as these agreements to work toward future partnerships, are tangible outcomes of relationships we're able to cultivate during missions like this," said Chris Cummiskey, commissioner of the Georgia Department of Economic Development. "When we take the time to visit potential customers at their headquarters, they realize our interest is sincere and our commitment to their success is very real."
Based on the 300 jobs the company expects to add, the state incentives package for the project will be between $1.875 million and $6.75 million, depending on how many of the jobs qualify for the different tax credits that are available. Higher-wage jobs earn more tax credits.
SANY Group Ltd., the parent company of SANY America, has sales revenues of $8 billion and 53,000 employees in more than 120 countries. It is one of the world's largest concrete machinery manufacturers.
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