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OTTAWA COUNTY — Lakeshore Advantage, an economic development organization that helps businesses in Ottawa and Allegan counties secure financing, is celebrating a successful year in 2023.
The organization began construction on its new home, Next Center, in downtown Holland to encourage business expansion, job creation, and local investment by manufacturers and other employers.
These investments came from LG Energy Solutions ($3,077,719,709), HG Medical ($41,008,441), Cold-Link Logistics ($23,357,239), ATC Drivetrain ($7,900,000), and others. These contributed to job growth, with 1,091 new or retained jobs in the region in 2023.
However, it is worth noting that the $3 billion from LG earmarked from the partnership with Toyota is not expected to create any jobs.
more: LG and Toyota partnership brings additional $3 billion investment to the Netherlands
If we look at the growth in this region in numbers, we can see the following:
$3.24 billion: Lakeshore Advantage supported a total of 26 business expansion projects totaling $3,240,199,833. Of this amount, $3,077,719,709 was paid to LG Energy Solutions.
$1,800: For every dollar invested in Lakeshore Advantage, $1,800 is invested back into local communities.
73: Lakeshore Advantage supported 73 local startups and raised $16.6 million in funding for them.
$634.3 million: The organization has leveraged more than $630 million in funding to support growing local major employers.
To see the full report, visit lakeshoreadvantage.com.
— Contact Austin Mets reporter at ametz@hollandsentinel.com.
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