Published : Oct. 13, 2020 - 16:36
Commissioner of the Georgia Department of Economic Development Pat Wilson (Georgia)
SK Innovation’s battery project in the US has garnered support from a state official who called the project an “economic game-changer.”
In a recent column posted on Main Street News by Pat Wilson, Commissioner of the Georgia Department of Economic Development, the official endorsed SK Innovation’s construction of two battery plants, worth $2.6 billion, to be completed in Jackson County, Georgia, by 2023, citing the economic opportunities they have already generated and will further bring to the community.
“The SK Innovation project is expected to generate $271 million in revenue for Jackson County over the next 20 years. Almost $160 million of that will go to local schools. The 2,600 jobs being created when the plants are operational will be highly skilled, long-term jobs that will be filled almost entirely by local residents, creating additional income, sales and property taxes” the commissioner said.
The endorsement came when SK Innovation is waiting for the final ruling for a trade secret lawsuit LG Chem had filed against the company with the US International Trade Commission last April for unlawfully acquiring trade secrets. If the USITC upholds the default judgement for its final ruling set for Oct. 26, SK Innovation will have to halt imports of electric vehicle batteries, parts and manufacturing equipment to the US.
The commissioner also underscored Georgia’s expectation from SK Innovation’s continued business in his message.
“The vast majority of state and local incentives are future credits or tax savings that SK Innovation receives only when they create new jobs,” the commissioner said.
By Kim Byung-wook (
kbw@heraldcorp.com)