Ingersoll Rand Co, a U.S. company, announced in November 2011 that it would establish a security equipment production base and a technology research college in the Liangjiang New Area of Chongqing.
It also invested $10 million on a representative office in the new area, which opened in March 2012, and it has continued to pour in more investment following the launch of the production base and the college.
Security equipment produced by the company are widely used in the city's airport, subway system and hotels, and city officials also hope to install the equipment in schools, hospitals and office buildings.
Ingersoll Rand currently makes profit reaching 4 billion yuan ($656.4 million) in the city, and it expects to make 15 billion yuan by 2015 – and also to expand into the west China market.
Experts said that - in addition to the authorities installing the company's security technology in public places - it is also used by members of the public who wish to add safety features to their homes. They also said that Ingersoll Rand's presence in Chongqing will allow the company to stay in touch with its clients in the city and the whole of southwest China - and also to design customized products that suit its target customers.
The technology research college, which is the company's other project in the Liangjiang New Area, is expected to cooperate with local universities to train students who will have the opportunity to be considered for a job with Ingersoll Rand.
Chongqing lies at the convergence of the Yangtze and Jialing rivers.