Written by Aaron-Michael Fox.
Governor Jim Justice and West Virginia’s economic development team announced that South Korea-based LG Electronics will soon be opening branch “innovation centers” in the Mountain State.
The strategic initiative is in partnership with Marshall University in Huntington and West Virginia University in Morgantown. In total, this marks the beginning of a $700 million investment by LG that will create 275 jobs over the next five years.
The project by LG NOVA (LG Electronics’ North America Innovation Center) aims to advance the development of technologies for renewable energy, health care, and industries of the future, according to a news release from the state.
“This is a tremendous day for our great state,” Gov. Justice said in a news release. “This partnership with LG Electronics is a game-changer, and it’s going to create hundreds of good-paying jobs, spur investment in new technologies, and help us build an innovation corridor across the Appalachian region. I’m proud to work with LG to bring these new opportunities to West Virginia, and I can’t wait to show the world what West Virginians are capable of.”
In the release, LG Electronics Global CEO William Cho thanked the governor and his team for welcoming the company to the state as true collaboration partners.
“Many years ago, I learned how to speak English by singing to John Denver’s ‘Take Me Home, Country Roads,’’ Cho said. “Now I’m finally here with all leaders in West Virginia for this significant occasion.”
The State of West Virginia is providing $54 million in forgivable loans for LG through the High Impact Development Project program. Senate Bill 729, passed in 2022, allows the Economic Development Authority to use monies in the Economic Development Project Fund for projects with investments of more than $50 million that are expected to create at least 200 permanent jobs.
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