SK innovation to Invest Another $940 Million in Jackson County Expansion, Create 600 Jobs
Atlanta, GA - Governor Brian P. Kemp today announced that SK innovation, a developer and manufacturer of lithium-ion batteries for electric vehicles (EVs), will invest another $940 million to expand their manufacturing plant in Commerce, Georgia, creating 600 jobs. This new project is in addition to the company’s $1.67 billion investment to develop two manufacturing facilities in Georgia that will deliver 2,000 jobs in Jackson County.
“Georgia is cementing its place as the Southeastern U.S. hub for the electric battery and vehicle market in large part thanks to SK innovation, and it is exciting to see the growth in demand for these quality products,” said Governor Kemp. “I appreciate SK innovation’s tremendous partnership to our state as we further expand Georgia’s economic growth and innovation together and look forward to building even stronger relationships with the people and businesses of South Korea."
In March 2019, SK innovation broke ground on their first Georgia manufacturing plant at Commerce 85 Business Park in Jackson County. The company will break ground on their second facility in July. Due to increased interest in their electric vehicle batteries, SK innovation is expanding upon their original project and investing an additional $940 million to build a new 430,000-square-foot plant at the business park.
“SK innovation's solid partnership with Georgia will allow SK to continue investing in Georgia, the U.S. economy, and the U.S. electric vehicle industry,” said SK innovation CEO Jun Kim. “SK innovation looks forward to working with our partners on an expanded project that creates even more jobs for the local community and supports advancements that help keep America on the leading-edge of a fast-growing industry.”
When complete, the Georgia location will be among the facilities in Europe and Asia that give SK innovation a projected annual global capacity of 71 gigawatt hours, making it one of the leading makers of EV batteries in the world.
“SK has proven to be a great community partner,” said Chairman of the Jackson County Board of Commissioners Tom Crow. “We are pleased to hear that they continue to be successful in gaining market share in the electric vehicle battery business and that they continue to expand in Jackson County.”
SK innovation is a part of the SK Group, one of the largest conglomerates in South Korea. The company employs more than 6,500 individuals worldwide, and customers for SK innovation’s battery business include Volkswagen, Mercedes-Benz, Hyundai-Kia Motors, and Ford Motor Company.
“SK’s continued growth is proof that the City of Commerce is a prime location for business,” said City of Commerce Mayor Clark Hill. “We’re pleased to see that SK’s commitment to our community continues to grow with the additional investment and the promise of quality jobs for this area.”
“This is a very exciting time in the history of the automotive industry,” said Jackson County Industrial Development Authority Chairman Scott Martin. “Innovative companies like SK are revolutionizing the automotive industry for the better, and we could not be more excited that they have decided to locate and expand in Jackson County.”
Director of Korean Investment Yoonie Kim represented the Georgia Department of Economic Development’s (GDEcD) Global Commerce division in partnership with the Jackson County Development Authority and Georgia Power.
“We are grateful for SK innovation’s growing partnership with our state. Their further expansion here underlines Georgia’s strong ties with South Korea and is a big part of our growing industry base for electric vehicle batteries and components,” said GDEcD Commissioner Pat Wilson. “I would like to especially thank our economic development partners in Jackson County and the city of Commerce for their continued commitment and dedication to creating jobs and opportunities in Northeast Georgia.”
Recently, SK innovation donated $400,000 to Augusta University and Augusta University Health’s response and associated expenses pertaining to the COVID-19 pandemic. SK innovation’s significant contribution to Augusta University helped the state continue to enhance its testing capacity while reducing exposure for Georgia’s doctors, nurses, and medical staff through at-home screening.
About SK innovation Co., Ltd
Established as South Korea’s first oil refining company in 1962, SK innovation engages in diverse areas of business, including exploration and production (E&P), batteries, and information and electronics materials. It owns SK Energy, South Korea’s No. 1 refining company; SK Global Chemical, the leader in the domestic petrochemical industry; SK Lubricants, a global lubricants company; SK Incheon Petrochem, a refining and chemical company; and SK Trading International, a trader of crude oils and petrochemicals. As part of their management system, SK innovation pursues the maximization of happiness for all stakeholders. It is for this reason that SK innovation recognizes the importance of and pays attention to social enterprise, a way to create social values through business.