LG Electronics North America held a groundbreaking ceremony Tuesday in Englewood Cliffs, marking the start of construction of its new North American headquarters campus.
The new corporate campus will be located at 111 Sylvan Ave. and is expected to be completed by 2019.
“We are looking forward to consolidating all the other LG companies here in Englewood Cliffs by late 2019,” William Cho, CEO of LG Electronics North America, said at the groundbreaking event.
The $300 million project, featuring five- and four story-wings totaling 350,000 square feet, has been in the works since 2009.
Environmental concerns for the woodlands and wetlands on the 27-acre site delayed construction, and prompted LG to redesign the facility.
“The construction of this long-delayed building shows that working with environmentalists and compromise can work,” New Jersey Sierra Club Director Jeff Tittel said in a news release.
Englewood Cliffs Mayor Mario Kranjac said the construction of the LG headquarters campus is a step towards a 2020 goal of his administration to make Englewood Cliffs a center of innovative companies.
“LG’s headquarters will be world class and sustainably designed to benefit LG, Englewood Cliffs and the great state of New Jersey, while protecting the iconic vistas and integrity of the Palisades and the state park,” said Kranjac.
Turner Construction is the current preconstruction manager. LG said it plans to conduct a bidding process to select the primary construction management partner.
The company also said it plans to expand green space in the development by 50 percent and plant more than 1,500 trees.
The company estimates the project will contribute $26 million annually in direct, indirect and recurring revenues, and add 2,000 short-term construction jobs to Bergen County.
The company expects its headquarters campus to increase local employment to 1,000 by late 2019, when construction is anticipated to be completed.