The unique model of a large housing project in Cleveland, Texas, invested by a Chinese company, has set an example for the future development of the city, Mayor Otis Cohn said on Wednesday.
Invested by China's Dalian Yihai Enterprise group, the Grand Oak Reserve project is a 600 acre plus master-planned community, with housing, commercial areas, clubhouse and golf courses.
The city of Cleveland and the Liberty County have provided many incentive policies of the project, including reducing of tax and infrastructure investment refund.
"The project will benefit the city as much as benefit the developer," Cohn said at the ceremony. He noted the unique model of the project can be copied in the future development of the city.
Interviewed by Xinhua, Cohn said the investment includes building infrastructure in the area. "It will benefit families around the project as well. Besides, it will create many job opportunities for local people."
Delivering a speech, Chinese Consul General in Houston Li Qiangmin said "with the support from local county and city, this project is not only a business success, but can bring business opportunity and jobs to the local community."
"Today we face the rise of great economic uncertainty. China and the United States should strengthen cooperation, working together for multiregional and world economic integrity," he said.
The company has already made an estimated investment of 10 million U.S. dollars and is projected to spend as much as 300 million U.S. dollars when all three phases of the development are complete. The project is one of the premiere developments and one of the largest investments in Liberty County and Cleveland.