Video and updates: State officials welcome international electronics company LG – WV MetroNews

West Virginia is expecting an economic development announcement involving LG, the South Korea-based electronics powerhouse.

West Virginia University President Gordon Gee has headlined an invitation to join Gov. Jim Justice at a 4 p.m. Wednesday “transformational announcement” at the state Culture Center. The announcement involves Vantage Ventures Founders, the entrepreneurship outreach organization associated with WVU.

Justice’s administration says it will announce a “major economic development project coming to West Virginia” at that time.

The event includes LG’s chief executive officer William Cho.

LG is a multinational company making electronics, chemicals, household appliances and telecommunications products. LG is heavily into electric vehicles to drive growth.

A special board meeting of the West Virginia Economic Development Authority is set for 1 p.m. Wednesday.

The development authority’s agenda indicates the reason for meeting is “to consider approval of a resolution related to the provision of a loan or loans to support a project (or projects) in Kanawha, and/or Jefferson, and/or Monongalia Counties, West Virginia.”

12 p.m. Jan. 3, 2024: Justice is miffed about “leak” but excited about development

During a midday media briefing, Governor Justice described excitement over today’s development but expressed frustration that word of it spread in advance.

“You know, there’s  been some leaks on this. This has disappointed me to tell you the truth because we pledge our confidentiality and we pledge our confidentiality in thanks to those that are going to come to West Virginia, give us opportunities, give us jobs, absolutely create a tax base that’s so significant it’s unbelievable,” he said.

But then he went on to describe his enthusiasm.

“You’re going to see a big time, big time announcement and everything,” he said. “West Virginia just keeps pumping it out. What has happened is just one thing. We awakened the world. We awakened the world to how great West Virginia truly is. So bring it on; bring it on world.”