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Officials prepare to announce economic growth

West Virginia is expecting an economic development announcement involving LG, the South Korea-based electronics powerhouse.

West Virginia University President Gordon Gee has headlined an invitation to join Gov. Jim Justice at a 4 p.m. “transformational announcement” today at the state Culture Center.

The announcement involves Vantage Ventures Founders, the entrepreneurship outreach organization associated with WVU.

The event includes LG’s chief executive officer William Cho.

LG is a multinational company making electronics, chemicals, household appliances and telecommunications products. LG is heavily into electric vehicles to drive growth.

A special board meeting of the West Virginia Economic Development Authority is set for 1 p.m. today.

The development authority’s agenda indicates the reason for meeting is “to consider approval of a resolution related to the provision of a loan or loans to support a project (or projects) in Kanawha, and/or Jefferson, and/or Monongalia Counties, West Virginia.”