Lakeshore Advantage boasts $3.24B in local investment — most coming from the same employer
OTTAWA COUNTY — Lakeshore Advantage, an economic development organization that aids businesses in Ottawa and Allegan counties in securing funding, is celebrating a successful 2023.
The organization broke ground on its new home in downtown Holland — The Next Center — and encouraged business expansion, job creation and local investments from manufacturers and other employers.
Those 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. They were instrumental in job growth, with 1,091 new or retained jobs in the region in 2023.
Notably, though, $3 billion from LG, earmarked from a partnership with Toyota, isn't expected to create any jobs.
More: LG partnership with Toyota will bring additional $3B investment to Holland
Here's a look at the region's growth by numbers:
$3.24 billion: In all, Lakeshore Advantage aided 26 business expansion projects totaling $3,240,199,833. Of that, 3,077,719,709 came from LG Energy Solutions.
$1,800: For every dollar invested in Lakeshore Advantage, $1,800 was returned as an investment in the local community.
73: Lakeshore Advantage assisted 73 local startups and raised $16.6 million in capital for those startups.
$634.3 million: The organization helped leverage over $630 million in funding to support growing local primary employers.
To see the whole report, visit lakeshoreadvantage.com.
— Contact reporter Austin Metz at ametz@hollandsentinel.com.
This article originally appeared on The Holland Sentinel: Lakeshore Advantage boasts $3.24B in local investment — most coming from LG
