HOLLAND, Mich. — Heavy machinery is already moving mounds of dirt behind LG Energy Solution in Holland.
“Our Holland City Council hasn't made a final decision on this yet. A whole lot of work has gone into this project up until now and there's a high level of expectation for this to come through," Holland Mayor Nathan Bocks told FOX17.
LG is looking to secure a renaissance zone, which means lower taxes for 20 years.
If given the green light by the city and its people, LG is planning to build another million square feet onto its existing building off of 146th avenue on the city's southeast side.
“There are still details and agreements that need to be made on this. Again, by no means a done deal for the city of Holland, but something that is a phenomenal opportunity for this community. $1.5 billion of investment in any community the size of ours is a fantastic thing," Bocks said.
The focus is to expand its lithium-ion battery manufacturing. This new site will align with LG’s existing partnership with GM and Stellantis as they push for electric vehicles.
“This provides Michigan the opportunity to get to the forefront of manufacturing and the direction auto manufacturing is going," Bocks said.
READ MORE: 1,000 new jobs may arrive in Holland by 2025
But this is more than manufacturing. The state is providing incentives for the project, including $10 million in funds specifically to support affordable housing in the Holland area.
“There are second- and third-tier opportunities for development as well. So there will be suppliers to this plant. There will also be increased housing that's built in this community. All of that generates additional revenue and success for this community of Holland,' Bocks said.
The state isn't the only one making a large investment to make this project work. The city also plans to invest $10 million in building a new electrical substation near the LG expansion.
"We will be recouping that in a very short period of time with the electric sales that are going to be coming from it, so that is a really smart investment by the city for a project like this," Bocks said.
Now the city is looking at a rezoning measure next Monday. The public still has a moment to weigh in at their meeting on Feb. 2. If all goes through, those jobs would come to the area by 2025.
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