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Morgantown, West Virginia — LG’s launch of the NOVA North American Innovation Center project in West Virginia is expected to bring a wave of investment that will advance many aspects of life.
LG Executive Vice President Sokol Lee said the two companies will leverage their expertise, intellectual capital and support from investors and venture capitalists.
“This will be a collaboration between LG Electronics and its friendly partners, the venture capitalists in our network,” Lee said on Metro News’ “Talkline” on Tuesday.
Elected leaders, economic development officials, and even President Lee cannot point to specific sectors, sectors, or facilities as sources of growth. He said the $700 million investment was not necessarily focused on hardware.
“This is more of a new type of non-hardware venture,” Lee said. “That’s what we plan to launch in West Virginia.”
Mr. Lee said he wants to develop current industries into new concepts and connect them to new commercial areas such as clean energy, clean technology, and advances in healthcare. Just as West Virginia looks to rebuild, LG NOVA aims to develop new concepts and industries that will improve quality of life.
“That’s exactly what LG Electronics is aiming for,” Lee said. “For example, healthcare and new types of energy, that’s exactly the area we’re trying to get into, and I think it’s a great partnership.”
LG NOVA will establish offices in Huntington and Morgantown to collaborate with Marshall University and West Virginia University staff on technology projects. Influence at the college level is also expected to increase opportunities to prevent young West Virginians from leaving the state after college.
“Another growing new energy business is clean technology, energy management, energy software and energy platform businesses,” Rhee said. “That’s the transformation of the nation, and that’s what you’re focused on.”
In 10 years, Lee hopes to point to industries that will create jobs in new clean technology fields and advances in health care that will improve the overall health of the state’s residents. The total investment of $700 million is expected to create 275 high-tech jobs.
“In five years, we intend to make these businesses successful by creating jobs, building businesses, and working well with West Virginia organizations such as hospital systems and energy infrastructure,” Lee said. said.
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