ZEELAND (WHTC-AM/FM) — Lakeshore Advantage and Zeeland-based Gentex have finalized an agreement making Gentex the first corporate anchor investor in the “Now for the Next” economic growth fund, which is poised to respond to economic development opportunities in the West Michigan Lakeshore region over the next 10 years.
Gentex’s $100,000 investment in “Now for the Next” is part of a larger three-year, $240,000 commitment to Lakeshore Advantage. Gentex has made the single-largest financial commitment from a private sector employer since Lakeshore Advantage chartered in 2003.
Lakeshore launched “Now for the Next,” an economic growth fund campaign, in mid-July, to replenish the HEDCOR Impact Fund established through the Community Foundation Holland Zeeland Area in 2008. That fund has fueled such efforts as the Holland SmartZone and Michigan State University Bioeconomy Institute, but the balance is dwindling, according to Lakeshore Advantage authorities.
Now for the Next’s goal is to raise $2 million by 2021 to provide an anchor investment in Lakeshore Advantage. More about Now for the Next here.
Gentex, founded in 1974, employs more in Ottawa County than any other company: 5,600 people. The automotive and technology company has sales approaching $2 billion annually. Gentex’s automotive products include unique digital vision, connected car and dimmable glass technologies.
Lakeshore Advantage is a non-profit, local economic development organization started in 2003 by business and community leaders.
In 2017, Lakeshore Advantage supported 49 business expansion projects in the organization’s project pipeline. Of those, 18 announced business growth projects in 2017 resulted in over $90 million in private investment and more than 650 new jobs. More at www.lakeshoreadvantage.com.
