The $2.8 million Michigan Department of Transportation grant comes from the Transportation Economic Development Fund allowing the City of Holland to widen 40th Street from two lanes to three, while adding right-turn lanes and other improvements between Waverly Road and the bridge over the Macatawa River.
Traffic signal timing improvements will also be made to the Waverly Road/40th Street and 48th Street intersections, as well as 40th Street being resurfaced from Industrial Drive to Waverly Road.
Total cost for the project is $3.5 million. The grant will provide $2.8 million toward eligible construction costs, while LG Energy Solution is contributing nearly $715,000 for the project, or 20% of the overall cost.
LG Energy Solution is headquartered in Holland and produces lithium-ion polymer battery cells. A new 1.8 million-square-foot facility has been proposed to be located next to the two existing phases. Road improvements are needed to accommodate that development, and LG Energy has committed to matching funds for the roadwork.
Phase Three of the company’s expansion is expected to cost $2.8 billion and create 600 new jobs.
