Posted by: Jennifer McEachern
Leading home appliance manufacturer to invest $250 million, create 600 new jobs
NASHVILLE — Tennessee Gov. Bill Haslam, the Department of Economic and Community Development and LG Electronics Inc. officials today announced the company will build a new home appliance manufacturing facility in Clarksville. The global manufacturer, with headquarters in South Korea, is a leader in appliances, electronics and mobile devices. LG will invest $250 million in the facility, creating at least 600 new jobs in Montgomery County.
The Clarksville facility will be LG’s first washing machine manufacturing operation in the United States.
“We are proud to welcome LG to Tennessee and thank the company for creating 600 valuable, new jobs in Clarksville,” Haslam said. “LG’s decision to establish new manufacturing operations in Tennessee is a testament to the business-friendly environment, ideal location and highly-skilled workforce we offer to companies around the globe. Tennessee is the top state in the nation for advanced industry job growth, an accomplishment that would not be possible without the many successful companies that choose to do business here. I look forward to building a lasting partnership with LG in the years ahead as we work together to make Tennessee the No. 1 location in the Southeast for high quality jobs.”
“Our department has placed a significant emphasis on recruiting international companies, and today’s announcement underscores our efforts to expand our reach not just domestically, but abroad to build upon the success of the Tennessee brand,” TNECD Chief Operating Officer Ted Townsend said. “When a company with such a strong, global reputation, like LG, chooses to operate in Tennessee, it speaks volumes to our state’s many business advantages, including our thriving manufacturing sector. We greatly appreciate LG’s investment in Tennessee and look forward to the positive impact the new facility will have on Montgomery County and its residents.”
Tennessee was ranked No. 1 among all U.S. states for foreign direct investment (FDI) job commitments in 2015, according to the 2016 IBM Global Locations Trends report. South Korea is among the top five countries for foreign investment in Tennessee, with Korean companies investing nearly $1 billion and employing more than 1,700 Tennesseans.
“LG is proud to make further investments in America, to create jobs and to bring state-of-the-art home appliance production technology to the great state of Tennessee,” said Dan Song, president of the LG Home Appliance and Air Solutions Company. “Over the past six years, LG studied eight states for the location of this facility. Tennessee is the clear choice for LG’s latest major investment in America, due to the state’s excellent business climate, quality workforce and central location for distribution to our U.S. customers.”
LG’s new Tennessee facility is expected to be the world’s most advanced production plant for washing machines. Construction on the 829,000-square-foot facility will begin later this year. Starting in 2019, the factory will initially produce front- and top-load washing machines. Longer term, the 310-acre site offers the potential to expand for production of other home appliances.
Local officials and Tennessee Valley Authority leadership expressed gratitude to LG for its commitment to Montgomery County.
“We’re happy to welcome another large company from South Korea to Clarksville,” Clarksville Mayor Kim McMillan said. “Clarksville continues to prove itself to be a great home for manufacturers that need a large and skilled workforce, shovel-ready industrial sites and outstanding infrastructure. This level of investment and new jobs shows that Clarksville is living up to our commitment to be a great place to live, work and raise a family.”
“On behalf of all of Montgomery County, welcome LG! While we are always pleased to see more growth in our industrial park, we are especially pleased to see the results of our investment in the northeast expansion come to fruition,” Montgomery County Mayor Jim Durrett said. “The people of Montgomery County are our greatest asset, and this announcement validates that statement. From our incredible economic engine at Fort Campbell to the record setting Austin Peay State University, we are Montgomery County and we are growing. We have a wonderful relationship with all of our industrial partners and look forward to expanding those relationships to include our new friends with LG.”
“TVA and Cumberland Electric Membership Corporation are excited to congratulate LG Electronics on its decision to locate a project of this magnitude in Clarksville,” TVA Senior Vice President of Economic Development John Bradley said. “Attracting and retaining quality jobs and investments in our region is a fundamental part of TVA’s mission to serve the people of the Valley. We are proud to partner with Tennessee Department of Economic and Community Development, Clarksville-Montgomery County Economic Development Council, Montgomery County, and the city of Clarksville to help further that mission.”
Clarksville and Montgomery County are represented by Sen. Mark Green (R - Clarksville), Rep. Curtis Johnson (R - Clarksville), Rep. Joe Pitts (D - Clarksville) and Rep. Jay Reedy (R - Erin) in the Tennessee General Assembly.
About LG Electronics USA
LG Electronics USA Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $48 billion global force and technology leader in consumer electronics, home appliances and mobile communications. LG Electronics sells a range of stylish and innovative home entertainment products, mobile phones, home appliances, commercial displays, air conditioning systems and solar energy solutions in the United States, all under LG's “Life’s Good” marketing theme. www.lg.com.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Tennessee is the only three-time winner of “State of the Year” for economic development by Business Facilities magazine. Find us on the web: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.