HOLLAND, Mich. — One thousand new jobs may be coming to Holland by 2025.
City of Holland documents obtained by FOX 17 show a potential $1.5 billion investment as LG Energy Solution hopes to expand in the city.
Officials are requesting the city to rezone LG’s property off 146th Avenue.
The Holland City Council is expected to discuss the proposal at a public meeting at 6 p.m. Feb. 2. A study session will be conducted prior to that.
The project is expected to provide 1,000 skilled, well-paying jobs by 2025.
The main building and support structures would total about 1 million square feet and would call for a 40 percent increase in electrical usage. The city would need to construct a new $10 million substation near the new building. Net revenues are expected to cover the cost of this investment, which would be required as part of a local development agreement.
The state of Michigan is providing incentives for the project, including a total package of about $525 million and a $10 million Housing Loan Program for affordable housing to be administered by the state.