LG and West Virginia Announce Strategic Initiative For New technology By CIOTechOutlook Team

LG and West Virginia Announce Strategic Initiative For New technology

CIOTechOutlook Team | Thursday, 04 January 2024, 05:45 IST

LG Electronics and The West Virginia Department of Commerce launched a strategic strategy to build new business ventures in West Virginia to accelerate the development of innovative technologies for renewable energy, healthcare, and future sectors.

The businesses, developed by LG NOVA, LG Electronics' North America Innovation Center, are expected to bring 275 jobs to West Virginia and spur the growth of new technologies, investments and economic development for companies and people in the area, the start of an innovation corridor across the Appalachian Region, as per LG Electronics.

In addition to LG's job creation, the NOVA West Virginia Investment Fund, an impact fund, expects to spend $700 million in project investments in West Virginia over the next five years to help these firms develop. The project investments will be used for West Virginia's development and prosperity.

"This is a tremendous day for our Great State," West Virginia Governor Jim Justice 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. 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."

"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."