Historically largest Latvian investment project in the U.S. launched in the State of Georgia

12.04.2018. 01:22

On April 11, the Latvian Deputy Prime Minister and the Minister of Economy Arvils Ašeradens visited the State of Georgia and participated in the opening of the new manufacturing site of Valmiera Glass. The Latvian company has invested more than 100 million USD and created more than 500 new jobs in Dublin, Georgia. The Minister emphasized that this is the historically largest Latvian investment project in the United States – it is a testament to the global competitiveness of Latvian companies.

Latvian Ambassador Andris Teikmanis spoke of the expansion of Valmiera Glass and entry into the U.S. market as a great example for other Latvian companies, and again a sign of maturity of the Latvian economy. It is also notable that this project is being launched only a week after the historic Baltic-U.S. summit at the White House. Economic cooperation was especially emphasized during the summit. President Donald J. Trump spoke highly of the investment climate in the Baltic countries and encouraged U.S. companies to invest. During the Baltic-U.S. Business Summit, the Secretary of Commerce Wilbur Ross talked about investments in both directions and said that the Baltic countries were standing out in terms of innovations and a fostering environment for start-ups.

The Latvian investment project in Georgia is being carried out by the subsidiary company P-D Valmiera Glass USA Corp. This company has worked in the United States since 2014, when the first manufacturing site was opened. The opening ceremony today was attended also by the Governor of the State of Georgia Nathan Deal, the Commissioner of the Georgia Department of Economic Development Pat Wilson, the Mayor of the City of Valmiera in Latvia Jānis Baiks, as well as the Mayor of Dublin, GA Phil Best. Governor Deal thanked the investors and noted the added value of the Latvian investment to the local region – creation of new jobs and additional economic activity.