Electronics Company to Make Multi-Billion Dollar Investment in Arizona

Daily News Now

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One electronics company has pledged to make a multi-billion dollar investment in Arizona by way of a massive new battery production plant in the state that will hopefully bring jobs and economic growth to the region.

LG Brings Big Investment to Queen Creek:

LG Energy announced their plans in a release, saying that they would be adding to their already $1.4 billion investment, now bringing that significant total to around $5.5 billion.

The company plans to expand its cylindrical battery factory to create lithium iron phosphate (LFP) pouch-type batteries for energy storage systems, adding to its existing infrastructure used to create batteries for products such as electric vehicles.

The new investment comes as other companies have pledged to bring their production plants to Arizona, with Ecobat bringing a lithium-ion recycling plant to Casa Grande and American Battery Factory making a $1.2 billion investment in Tucson.

Reactions to the Plan:

Supporters of the plan, including Governor Katie Hobbs and the Arizona Commerce Authority, have touted the plan, saying that it would be bringing not only jobs but also potential for more growth in the state.

“With this historic investment from LGES, Arizona has become the battery manufacturing capital of the country,” said Governor Hobbs. “These Arizona-made batteries will power green, sustainable technologies around the world, cementing Arizona’s reputation as an innovation hub for renewable energy. We’re grateful to LGES for their legacy investment and for committing to making thousands of good-paying jobs for Arizonans.”

However, not everyone in the state is as pleased about the move, with an online petition now at almost 4,000 signatures looking to block the plant over concerns of environmental damage as well as impacts to their property values.

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Political, Entertainment, and Local Interest stories for states throughout the West Coast, focused on the latest legislation, campaign news, and local stories. Based in Arizona and covering news from the Copper State, California, Colorado, and Utah.

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