LG Chem announced this week that it will build its first North American lithium ion battery plant in Holland. The $303 million facility will generate hundreds of jobs and, along with Johnson Controls’ Holland-area battery plant, make northwest Michigan the epicenter of the Western Hemisphere’s lithium ion battery production, an emerging market that is expected to spark up to $3.2 billion in sales within two years.

Governor Jennifer M. Granholm also announced this week that seven projects supported by the Michigan Economic Development Corporation (MEDC) have been recognized in the fifth annual Trade & Industry Development magazine economic development awards competition. These are seven of the key projects that propelled Michigan to third place in Site Selection magazine’s annual Governor’s Cup competition for major new corporate investments in 2009 announced last week.

These announcements pay tribute to the economic development talent and professionalism available in communities around the state. Perfecting these deals requires the highest degree of collaboration and cooperation in generating new investment from inside and outside of the state. Michigan continues to demonstrate its leadership in attracting and nurturing growing companies, based on our aggressive initiatives, strong business climate, and a hard-working and talented workforce.

Tagged as: advanced battery, Alternative Energy, economic development attraction/retention programs, economic development partnerships, Economic Growth, green manufacturing

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