Ribbon Cutting Held for $20M Risever Plant in Jonesboro

Heifei Risever Machinery Co. Ltd officials, along with state and local leaders, cut the ribbon for the company's new plant in Jonesboro.

Hefei Risever Machinery Co. Ltd officials, joined by state and local leaders, held a ribbon cutting Wednesday for its new $20 million 125,000-SF Jonesboro plant in the Craighead Technology Park.

The project is expected to create 130 jobs over the next five years.

“This is a day of celebration and a remarkable occasion for Risever,” said General Manager Yonggang Lai in a news release. “It also marks our start of trial production. We will remain consistent with our business plan, ensuring that $20.5 million dollars of investment are in place. We will have welding, machining, painting and 3D inspection equipment. Our goal is, in 2020, to have the capacity to fabricate 6,000 tons of heavy steel per year.” Risever’s five-year goal is to fabricate 18,000 tons annually.

The project was announced two years ago, and the new plant is the company’s first to be built in the country as a result of its “Made in the USA” initiative.

Gov. Asa Hutchinson said in the release, “Risever is one of several Chinese companies that are choosing to locate in Arkansas thanks in large part to our skilled workforce and low business costs. Because foreign investment is vital to our state’s economic health, we hope that other companies across the world will see the advantages Arkansas has to offer.”

Mark Young, president of Jonesboro Unlimited, said in the release, “Recruiting companies like Risever is an essential part of our five-year strategic plan to create 2,500 direct, new, high-paying jobs in Jonesboro. We are glad to see this family-owned company take this exciting step.”