LG to partner with WV on initiative to grow new business ventures expected to create 275 jobs

The state of West Virginia will partner with Korean-based electronics manufacturer LG on a “strategic initiative” to grow new business ventures in the state, Gov. Jim Justice announced Wednesday. 

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.

The venture is expected to bring to the state 275 high-paying jobs and, via the NOVA West Virginia Investment Fund, drive $700 million in investment over five years and start what officials called an “innovation corridor across the Appalachian Region.”

As part of the company’s collaboration with the state, LG plans to open branch offices in Huntington, home of Marshall University, and Morgantown, home of West Virginia University, the governor’s office said. 

Justice made the announcement during an event at the state Culture Center Wednesday afternoon. He was joined by WVU President E. Gordon Gee, Marshall University President Brad Smith, U.S. Senators Shelley Moore Capito and Joe Manchin, West Virginia Senate President Sen. Craig Blair and House of Delegates Speaker Roger Hanshaw. 

“This is a tremendous day for our great state,” Justice said in a news release Wednesday. “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.”

“LG is committed to building a better future, and through this initiative, we have great hopes for what we can accomplish in West Virginia to further deliver solutions that have impact on the world.” 

At a special meeting Wednesday, the West Virginia Economic Development Authority approved a resolution providing a $54 million high impact forgivable loan for the project.

After the board approved the resolution, the governor said state leaders should be grateful LG is coming to the state.

“LG could go anywhere, I mean that’s all there is to it,” he said. “I mean they’ve got the money, they’ve got the intelligence. They could go anywhere on the globe and then maybe places that aren’t on the globe.”

Further details about the state’s agreement with LG were not immediately available Wednesday afternoon.