Lakeshore Advantage honored as Neighborhood Builder, boosting regional economic momentum

Lakeshore Advantage has been selected as Bank of America’s 2025 Neighborhood Builder, a recognition that brings $50,000 in funding and a year-long national leadership program. The award positions the nonprofit to tackle some of the most pressing issues along the Lakeshore — talent retention, workforce gaps, and other needs of a rapidly growing business community.

President Jennifer Owens says the award comes when the region is facing competition for workers and continued pressure to support entrepreneurs and employers.

The recognition also carries extra weight, she notes, because it places Lakeshore Advantage alongside past recipients LAUP and the West Michigan Hispanic Chamber of Commerce, two groups widely regarded for their influence in economic and community development.

“We’re in really good company, and we’re excited not only about the grant, but also the leadership development that will come from this grant,” Owens says. 

Job generation

The award supports Lakeshore Advantage’s Powering Our Future plan, a five-year strategy designed to generate and attract 5,000 high-wage, high-demand jobs across Allegan and Ottawa counties. The bank’s investment completes the organization’s $2.3 million capital campaign.

Owens says the plan is built around three areas of need: retaining young workers, accelerating entrepreneurial growth, and addressing the severe shortage of industrial sites available for business expansion. The nonprofit will also significantly expand its outreach to out-of-region corporate headquarters—many located in Silicon Valley, New York, and Korea — that employ thousands of residents along the Lakeshore.

“We have an opportunity to network nationally with other best-in-class community leaders,” Owens says. “This support will help us activate our startup community, engage K–12 and higher education partners, expand early-stage capital connections, and build the next generation of entrepreneurs.”

Lakeshore Advantage has long been a key player in sustaining regional prosperity. Last year, the organization facilitated $243.9 million in private-sector investments, helped companies secure $44.7 million in support funds, and created or retained more than 550 jobs.

Building for the future

Bank of America Grand Rapids President Paul Keifer says this year’s Neighborhood Builder selection reflects an emphasis on organizations that help residents access long-term economic opportunity.

“Our focus is on connecting resources where they can have the greatest impact,” Keifer says. “Lakeshore Advantage hits the mark because of the breadth of their programming and their commitment to business ownership and workforce development.”

Keifer, who grew up in Holland and is a West Ottawa High School graduate, says the work of Lakeshore Advantage is increasingly important as the region experiences accelerated population and business growth.

“West Michigan is a rocket ship of growth over the next 10 years,” he says. “The stronger the economy becomes, the more residents benefit from the opportunities that come with that momentum.”

He adds that past Neighborhood Builders recipients like LAUP and the West Michigan Hispanic Chamber have used the program to deepen leadership capacity, strengthen internal systems, and expand community impact.

Supporting nonprofits

Throughout the year, Bank of America employees logged more than 5,100 volunteer hours, hosted financial education workshops, served on 77 nonprofit boards, and supported more than 70 community organizations through personal contributions.

The bank held its annual Day of Giving on Nov. 13, deploying more than 100 volunteers to local nonprofits, including the Equest Center for Therapeutic Riding in Rockford. The day concluded with a market-wide celebration and a holiday “GIVE” reception in Grand Rapids.

The Equest Center has been a longstanding partner supported by Bank of America associates. Keifer says the therapeutic horseback riding program is an example of how volunteer labor can help small nonprofits boost their reach.

“It’s a working equestrian facility — it takes a lot of hands,” Keifer says. “Our associates help with farm work, event preparation, and capacity-building so they can reach more people.”

He notes that the connection is further strengthened through the leadership of Rachel Morass, a Merrill financial adviser who is president of the Equest Center’s board of directors.

Bank of America’s 2025 philanthropic initiatives have awarded 24 nonprofits nearly $1 through efforts that include sponsorships, the Leader on Loan program, and employee giving.

In addition to Equest Center, Grand Rapids–area groups receiving support this year include:

• Habitat for Humanity Kent County
• Junior Achievement of Michigan Great Lakes
• The Economic Club of Grand Rapids

Bank of America’s Grand Rapids market has awarded nearly $8 million to local nonprofits over the past decade. The bank’s strategy centers on addressing regional needs such as emergency shelter, affordable housing, financial education, food insecurity, and workforce development.

Owens says efforts like the Neighborhood Builders program amplify what smaller and mid-sized organizations can accomplish when they receive financial support and long-term leadership training.

“We’re really humbled to receive it,” she says. “This is about strengthening our team, our entrepreneurs, and our future workforce.”