South Korea’s LG Chem Industrial Materials Co. is to invest $40 million in the construction of a 150,000 square-foot manufacturing facility in Gordon County, south of Calhoun, Gov. Sonny Perdue’s office announced last week.
LG Chem Industrial Materials Co. is a division of LG Chem Ltd., which is a subsidiary of LG Corp., one of the world’s largest companies. LG Chem Ltd., which manufactures petrochemical polymers and plastics, has annual revenues in excess of $45 billion.
Gordon County’s business-friendly environment and easy access to I-75 were primary factors in the decision to locate there, said K.S. Park, president of LGCIM, in the announcement.
The plant, which is scheduled to begin production next June, will produce an acrylic countertop material called Hi-Macs, said Kevin Langston, communications director for Georgia Department of Economic Development.
“This will be the first time they’ve made the product outside Korea,” Mr. Langston told GlobalAtlanta. “The market has grown to the point that they needed to establish production here in the U.S.”
Some 70 jobs will be created initially, with the potential for significant growth within five years, the governor’s statement said.
Mr. Perdue, who went to South Korea on a trade mission last fall, said of the new plant, “Georgia is an attractive location for international investment, and this new facility further strengthens our reputation as a world-class business environment.”
To assist in the company’s growth in Gordon County, Georgia’s Economic Development Department recommended that OneGeorgia Authority provide the county with a $490,000 grant toward the project’s development costs, said Mr. Langston. The state authority utilizes tobacco settlement funds to assist in the economic development of Georgia’s most economically challenged areas.
For more information, contact the governor’s office at (404) 651-7774.