LG Launches $700M Strategic Initiative To Grow Tech Ventures In West Virginia
LG NOVA projects expected to bring 275 jobs to West Virginia; spur growth of new technologies, investments and economic development; establish Appalachian Region innovation corridor.
Through a new strategic initiative announced January 3, LG Electronics will grow new business ventures in West Virginia and advance the development of technologies for renewable energy, healthcare, and industries of the future. The businesses created by Santa Clara, CA-based LG NOVA — LG Electronics’ North America Innovation Center — are expected to bring 275 high-skilled jobs to West Virginia. An investment fund is being created with plans to invest $700 million in West Virginia over the next five years to grow these businesses and establish an innovation corridor across the Appalachian Region.
(Source: Office of Governor Jim Justice / YouTube)
“LG is committed to delivering solutions for digital healthcare and cleantech that have impact on West Virginia and the rest of the world.”
— LG Electronics Global CEO William Cho
“This is a tremendous day for our Great State,” said Governor Jim Justice. “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.”
Established in 2021, LG NOVA collaborates with startups and partners to build innovative ventures that positively impact people and the planet. Through the Mission for the Future and Commercial Acceleration Program, LG NOVA engages with the innovation community to create transformational positive change in the world. As a part of its collaboration with the West Virginia Department of Economic Development, LG NOVA plans to establish branch offices in Huntington (home of Marshall University), and Morgantown, (home of West Virginia University).
Watch the project announcement below:
“LG is glad to join the Governor’s West Virginia economic development initiative to bring new value to the state and its regional partners by building transformational new businesses,” said LG Electronics Global CEO William Cho. “LG is committed to delivering solutions for digital healthcare and cleantech that have impact on West Virginia and the rest of the world.”
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“This is another spotlight on the innovation and advancement occurring in the great state of West Virginia,” said West Virginia Department of Economic Development Secretary Mitch Carmichael. “We are honored to share this economic development announcement highlighting LG NOVA, LG Electronics’ North America Innovation Center, and the job and career opportunities it will create in the Mountain State. We are here to support the entire LG team.”
“The opportunity to work with the West Virginia and the influential leaders in the region to grow our businesses is significant,” commented Dr. Sokwoo Rhee, head of LG NOVA and Executive Vice President of Innovation at LG Electronics. “Through the work we are doing, we get to create technologies and businesses that will help lead to transformational change, and we can make a difference and have an impact on the people of West Virginia, in the Appalachian Region and beyond.”
The strategic initiative will extend beyond West Virginia through collaboration with business leaders, public-sector innovators, and universities to promote economic investments in communities across the Appalachian Region.
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