ZEELAND, Mich. (WOOD) — A new study shows unprecedented business growth in two West Michigan counties in 2022.
The Lakeshore advantagean economic development organization for both Allegan and Ottawa counties, released its 2022 Successful Projects and Achievements report, which breaks down measurable expansion.
Last year, the county saw a total of $2.38 billion invested by businesses and an additional $436 million brought in for expansion. Lakeshore Advantage President Jennifer Owens called these numbers “historic.”
“It’s historic because this is just a huge amount of investment and growth,” he said.
Almost $2 billion of invested money came from two companies, Gentex and LG Energy Solutions, wants to use both Ottawa and Allegan counties for major projects. GenTex will expand its headquarters in Zeeland and bring in 500 new jobs. LG will create a new Holland facility that will produce lithium-ion batteries for cars.
“We see this development and signs of great things to come,” Owens said.
While most donations come from larger companies, Lakeshore spends most of its time working with smaller businesses in the county to help ensure they stay afloat.
“Those are important employers that will last a lifetime so we like to see that small and medium growth,” Owens said. “Those two big projects are quite rare… we welcome them too but we like small and medium companies.”
Another important figure is the number of jobs created in 2022 with more than 3,300 new openings. While creating jobs is considered a good thing, Owens said that one of the biggest issues facing businesses in the county and across the country is finding workers to fill them.
Gentex has also announced plans to retain employees with on-site childcare facilities after realizing that it was something the employee deemed necessary to continue working there. Owens said that moves like this have been brought to the forefront of employers’ minds as the workforce continues to dwindle.
“Attracting, retaining and growing the talent base is one of the most important things for our region,” he said. “We have great jobs here and we’re ready to welcome them.”
You can view the full expansion project report by visiting Lakeshore Advantage website.
