Yantai Dongxing Group Co., Ltd. Selects Victoria, Texas for New Manufacturing Facility

Yu Dawei, Chairman and General Manager of Yantai Dongxing Group Co., Ltd. (Dongxing), and Russell Dempsey, Chairman of the Victoria Sales Tax Development Corporation, signed a Letter of Intent to purchase 7.5 acres in the Lone Tree II Industrial Park for their plans to develop a $40 million facility and create 52 new primary jobs in Victoria, Texas.

“Yantai Dongxing Group Co., Ltd. has been making progress during the previous fifty years. With complete confidence, Dongxing is embracing the future, grasping possibilities, aiming higher, producing amazing accomplishments on a constant basis, making positive progress.” – Yu Dawei, Chairman and General Manager of Yantai Dongxing Group, Co., Ltd.

“The Victoria Sales Tax Development Corporation purchased this property 15 years ago to develop for Caterpillar Suppliers. It’s a great achievement to fill up this park to help grow the economy of Victoria.” – Russell Dempsey, President, Victoria Sales Tax Development Corporation.

“We couldn’t be more excited for the momentum of suppliers coming to Victoria and adding value to our economy. This is a very large project.” – Don Whitaker, Chairman of the Board of Directors, VEDC Regional Partnership & CFO, Keating Auto Group.

“The fact that foreign companies are choosing Victoria, Texas as a primary location for their North American ventures is really encouraging. This demonstrates Victoria's welcoming community for international companies and its excellent business climate. VEDC will keep up its efforts to establish the Victoria region as one of the top locations in the US for businesses seeking nearshoring opportunities and those companies from other states seeking improved business conditions and better incentives.” – Diego Gonzalez – Secretary of the Board of Directors, VEDC Regional Partnership.

“Dongxing is going to utilize cutting edge technology to construct a highly valuable facility in Victoria. These are going to be great jobs for our residents.” – Jonas Titas, CEcD – President, VEDC Regional Partnership.

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VEDC Regional Partnership – Victoria Economic Development Corporation
101 W. Goodwin Avenue, Suite 322
Victoria, Texas 77901