LG Electronics, on Wednesday, said the home appliances maker along with the State of West Virginia are partnering to grow new business ventures in the state, with an aim to advance the development of new technologies for renewable energy, healthcare, and industries of future.
The company said businesses developed by LG NOVA, LG Electronics North America Innovation Center, are expected to bring 275 jobs to the state and spur the growth of new technologies, investments, and economic development for companies and people in the area.
Alongside LG’s job creation, NOVA West Virginia Investment Fund plans to channel $700 million in project investments in West Virginia over the next five years to grow these businesses while the project investments are to be used for development and growth in West Virginia.
Jim Justice, Governor of West Virginia said, “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.”
“The opportunity to work with West Virginia and the influential leaders in the region, we get to create technologies and businesses that will help lead to transformational change,” said Sokwoo Rhee, head of LG NOVA.
The South Korea-based company said this strategic initiative is part of an effort that extends beyond West Virginia to promote resilient economic investments in communities across the Appalachian Region with business leaders, public-sector innovators, and universities.
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