This article originally appeared on Watchdog.org.
By Kaitlyn Speer | Watchdog.org, Virginia Bureau
ALEXANDRIA, Va. — Another Chinese company plans to invest in the Old Dominion, and Virginia Beach taxpayers will help foot the bill.
Gov. Terry McAuliffe announced a few weeks ago Shandong Tranlin Paper Co.’s plan to invest $2 billion in Chesterfield County. Now, China Machinery Engineering Corp. of Beijing plans to partner with a Virginia-based company to build an 18,000-seat arena and sports complex.
The 50,000-square-foot facility will cost an estimated $200 million, but that doesn’t include other costs paid by Virginia Beach, an additional $10 million for other costs, or the land the city is contributing to the deal. Continue reading