ZEELAND — A new “economic catalyst” fund and advisory committee hopes to further economic growth in Ottawa County.
Lakeshore Advantage Corp., an economic development organization for Ottawa County, and the Community Foundation of the Holland/Zeeland Area announced they have completed fundraising efforts for the “Now for the Next” fund and formed a new fund advisory committee.
The effort raised nearly $1.7 million via investments from 40 individuals and businesses.
The advisory committee held its first meeting Thursday to set the priority of funding “strong economic development operations” led by Lakeshore Advantage. Other areas of investment could include talent development and attraction, community revitalization, education and advanced infrastructure.
The fund is a replacement for and continuation of the Foundation’s Holland Economic Development Corp. (HEDCOR) Fund created in 2008. The HEDCOR Fund invested over the last decade in economic development efforts, including the launch of the Michigan State University Bioeconomy Institute, New North Center for Innovation and Design and Holland SmartZone.
“It is exciting to see the hard work and legacy of HEDCOR live on in Now for the Next,” Bret Docter, chair of the Now for the Next advisory committee, said in a statement. “The economic impact Now for the Next will reverberate in the years to come.”