CLARKSVILLE, TN (CLARKSVILLE NOW) – Montgomery County’s LG Chem announcement has received the Business Facilities’ 2022 Deal of the Year Impact Award in the category of foreign direct investment thanks to efforts by the Industrial Development Board (IDB).
EDC officials noted in a press release that Business Facilities is a national publication and a leading source for corporate site selectors and economic development professionals. Officials explained that the publication relies on nationally recognized site consultants to choose annual Deal of the Year winners from all industries, operations, geography and size.
In November 2022, LG Chem officials announced the company’s plan to invest $3.2 billion to establish a new cathode manufacturing facility in Clarksville to support the U.S. electric vehicle battery value chain.
“This outstanding recognition would not be possible without LG Chem’s substantial investment in Tennessee. When companies like LG Chem choose to do business in Tennessee, it underscores our state’s business-friendly climate and talented workforce, and further strengthens our global portfolio. We appreciate the partnerships of everyone who helped bring this project to fruition and know that LG Chem will thrive in Clarksville,” said Commissioner Stuart McWhorter, Tennessee Department of Economic and Community Development.
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The site, located on about 420 acres, will create 860 new jobs, making LG Chem the second largest tenant of the Clarksville-Montgomery County Corporate Business Park, second only behind the Hankook Tire facility, which won Business Facilities’ 2013 (Silver) Deal of the Year.
“With thousands of communities to choose from, it’s impressive for Montgomery County to be recognized with the Deal of the Year by the same publication twice within the last decade. Thank you to all the different teams across the state that worked so hard to bring an industry of LG Chem’s quality to our remarkable community,” said Montgomery County Mayor Wes Golden in the release.
Shea Hopkins, IDB executive director, added the project will be a game changer for Clarksville-Montgomery County.
“This project is truly a game changer for our growing community, bringing high wage jobs and giving transitioning soldiers from Fort Campbell a career to land in. LG Chem and each of our successful announcements and expansions are due in large part to our exceptional state and regional partners and our pro-business community leadership working together to ensure shared growth.”
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