China-owned companies reckon with U.S. state, national land purchase bans
Business & Technology
Arkansas recently ordered ChemChina-owned Syngenta to sell its land in the state. Other states are also putting up walls for Chinese buyers.
Eduardo Jaramillo Published November 6, 2023
https://thechinaproject.com/2023/11/06/china-owned-companies-reckon-with-u-s-state-national-land-purchase-bans/
"Arkansas, Florida, Louisiana, Montana, North Dakota, Ohio and three more states have since passed legislation that restricts some land ownership for Chinese citizens or companies. The laws vary in their application, and only the Arkansas law has forced Syngenta (owned by China National Chemical Corporation (ChemChina)), which in 2022 generated almost a quarter of its annual revenue in North America, to sell off its holdings.
The Florida law, for example, bans Chinese owners from buying land “within 10 miles of any military installation or critical infrastructure facility” such as seaports, airports and wastewater treatment plants. The law doesn’t apply to purchases made before July of 2023, but current owners must register their property with the state by January 2024 or face fines and the risk of state authorities seizing their land."
Syngenta owned by ChemChina locations in Florida
1) Alva, FL
2) Naples, FL
3) Vero Beach, FL