Bergen County Freeholders Unanimously Support LG Electronics' Building Project Board Recognizes the Significant Economic and Environmental Benefits of LG's Expanded Presence in the County

HACKENSACK, N.J., Sept. 4, 2013 /PRNewswire/ -- The Bergen County Board of Chosen Freeholders has unanimously adopted a resolution supporting LG Electronics' $300 million North American headquarters project in Englewood Cliffs.

(Logo: http://photos.prnewswire.com/prnh/20110203/CG42292LOGO-d)

At its Sept. 3 public meeting, the Board recognized the significant economic and environmental benefits of LG Electronics' expanded presence in Bergen County. Following remarks by dozens of local residents and union workers in support of the project, each of the seven Bergen County Freeholders voiced their strong endorsements for the LG project before casting their votes for the resolution.

"The support of the Bergen County Freeholders underscores the significant impact of the LG project on our county and our state," said I.D. Kim, the LG Electronics USA vice president overseeing the project. "This project will create and retain thousands of jobs in Bergen County, and it's expected to be the largest LEED Platinum project in the state."

The Freeholders' resolution followed on the heels of an economic impact study released Tuesday by Bergen County Executive Kathleen Donovan.

The study evaluated the impact of the LG project on a range of factors including state and local tax revenues, long-term and one-time job creation and the revenues derived from the additional spending both at the corporate level and by employees working at the new facility. The cumulative benefit of these ongoing revenues to New Jersey over 20 years is projected to be $538 million. The study also showed that the building's construction will generate an estimated $25 million in one-time direct, indirect and induced revenues to New Jersey.

The endorsement by the Freeholders comes less than a month after Superior Court Judge Alexander H. Carver III upheld the Englewood Cliffs Zoning Board's approval of LG's new North American headquarters building. 

The Bergen County Freeholders are the latest in a long line of local officials and key constituency groups that support the LG project. Among those who have already backed the LG project include Englewood Cliffs Mayor Joseph Parisi Jr., NJ State Senator and Deputy Majority Leader Paul Sarlo (D-36), NJ State Senator Bob Gordon (D-38) and Bergen County Executive Kathleen Donovan. The project has also received the backing of the Bergen County Building and Construction Trades Council.

The resolution – unanimously adopted on Sept. 3 by Freeholder Chairman David L. Ganz, Fair Lawn; Freeholder Vice Chairwoman Joan M. Voss, Fort Lee; Freeholder Chairman Pro-Tempore John A. Felice, River Edge; Freeholder Maura DeNicola, Franklin Lakes; Freeholder John Mitchell, Cliffside Park; Freeholder Steve Tanelli, North Arlington; and Freeholder Tracy Silna Zur, Franklin Lakes – stated:

WHEREAS, LG Electronics received all necessary approvals and variances from the Board of Adjustment of Englewood Cliffs to complete this project; and

WHEREAS, the Honorable Alexander H. Carver, III, J.S.C., affirmed the Board of Adjustment of Englewood Cliffs' approval of the site plan application and variance requests made by LG Electronics; and

WHEREAS, the Board of Chosen Freeholders is in favor of this project being completed because it will keep LG Electronics in Bergen County, create 2,000 construction jobs over a two-year period, and enable LG to expand its workforce in Englewood Cliffs from 500 employees today to 1,600 by 2020; and

WHEREAS, based on the statutory power and authority of the Board of Chosen Freeholders, and for reasons of good governance;

NOW THEREFORE BE IT RESOLVED the Board of Chosen Freeholders supports the LG Electronics headquarters project in Englewood Cliffs; and

BE IT FURTHER RESOLVED that this Resolution shall take effect immediately.

Construction on the project is expected to begin shortly, with preparations already underway for the demolition of the existing buildings at 111 Sylvan Ave.

About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $45 billion global force and technology leader in consumer electronics, home appliances and mobile communications. LG Electronics, a proud 2013 ENERGY STAR Partner of the Year, sells a range of stylish and innovative home entertainment products, mobile phones, home appliances, commercial displays, air conditioning systems and solar energy solutions in the United States, all under LG's "Life's Good" marketing theme. For more information about LG Electronics, please visit www.lg.com.  For more information about the North American headquarters building, please visit LGenglewoodcliffs.com.

SOURCE LG Electronics USA, Inc.



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