Tennessee thrives on LG’s investment

“It all started with an investment from LG Electronics.” That’s how Allen Borden, deputy commissioner at the Tennessee Department of Economic and Community Development, opened an interview with reporters in Nashville on March 27 as he detailed the positive impact LG Electronics has had on the state.

“LG Electronics has directly and indirectly created about 2,800 jobs across Tennessee over the past 10 years,” Borden said. “After LG partnered with Tennessee, other LG Group affiliates—such as LG Chem and LG Energy Solution—along with other global companies, began investing here as well.”

According to Borden, Montgomery County’s labor force, which includes the city of Clarksville, stood at 81,000 in February 2017, before LG began operating its local plant. By December 2024, following the launch of commercial operations, that number had grown to 92,000. Over the same period, the number of employed residents increased from 77,650 to 88,375.

“These are clear indicators that LG’s investment has had a positive effect on labor force participation and job growth,” Borden said. He added that LG Electronics’ total payroll for its directly employed workforce amounts to $325 million. “That income is being reinvested in the local economy as residents purchase homes, cars and groceries,” he said.

According to Montgomery County, the median household income in the region rose more than 34% in five years—from $56,102 in 2018 to $75,361 in 2023. “That’s why we focus on attracting large-scale manufacturers like LG Electronics,” Borden said.

Despite changes in the broader economic climate, Borden emphasized Tennessee’s ongoing commitment to supporting job-creating businesses. “Foreign direct investment is a vital part of Tennessee’s economy,” he said. “We’ll continue supporting companies that have established operations here to help them weather any short-term challenges.”


박종민 기자 blick@donga.com