The Clarksville Montgomery County Economic Development Council (EDC) is pleased to share the LG Chem project announcement, championed by the Clarksville-Montgomery County Industrial Development Board (IDB), and the largest Foreign Direct Investment in state history, received Business Facilities’ 2022 Deal of the Year Impact Award in the category of Foreign Direct Investment.
Business Facilities is a national publication and a leading source for corporate site selectors and economic development professionals. The publication relies on nationally recognized site consultants to select annual Deal of the Year winners among projects across all industries, operations, geography, and size.
November of 2022, LG Chem officials announced the company’s plan to invest $3.2 billion to establish a new cathode manufacturing facility in Clarksville, Tennessee, in support of the U.S. electric vehicle battery value-chain. With a footprint of 420 +/- acres and 860 new jobs, LG Chem will become 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.
“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.” – Commissioner Stuart McWhorter, Tennessee Department of Economic and Community Development.
“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,” – Montgomery County Mayor Wes Golden.
"We are grateful for this award and the recognition it brings to our community," said Clarksville Mayor Joe Pitts. "But the real winners are the people from our community who will bring a tireless work ethic and pride of workmanship to the facility every day. They are the reason for our success," City of Clarksville Mayor Joe Pitts said.
“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,” – Shea Hopkins Clarksville, Montgomery County Industrial Development Executive Director.
“Congratulations to the Clarksville-Montgomery County Economic Development Council and Industrial Development Board and LG Chem officials on the recognition of this impactful project. Economic development projects, like the LG Chem announcement, can be transformative for a community, bringing new job opportunities and investments. TVA is proud to partner with Cumberland Electric Membership Corporation to help support economic growth in the region and we look forward to LG Chem’s future business success in Montgomery County.” – John Bradley, TVA senior vice president of Economic Development.
"Congratulations to Clarksville and Montgomery County on landing the LG Chem project. Projects such as these require a lot of resources and hard work by a large group of individuals and a multitude of organizations. It's great when all the effort pays off with an announcement of this magnitude and the positive effect it will have on the region is going to be huge. MTIDA was proud to be a part of the process and congratulate LG Chem and welcome them to Middle Tennessee," – Robert Bibb, Middle Tennessee Industrial Development Association (MTIDA) Executive Director.
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