This program, administered by the Department of Economic Development, provides grants for publicly-owned infrastructure to assist industrial or business development projects that promote economic development and that require state assistance.
FUNDING About $5 million in an annual state appropriation. 54 companies have been assisted and over 5,425 jobs created since 1997.
WHO IS ELIGIBLE? An eligible applicant for the grant award must be a public or quasi-public state entity or a political subdivision of the state and a private company who will be the primary beneficiary of the award. Preference will be given to projects for industries identified by the state as target industries and to projects located in areas of the state with high unemployment levels. The minimum award request is $25,000. Projects must create or retain at least ten (10) permanent jobs in Louisiana. Eligible project costs may include, but are not limited to, the following: engineering and architectural expenses, site acquisition, site preparation, construction expenses, building materials, and capital equipment.
THE PROCESS 1. Application filed by public/quasi-public entity and private company. 2. Application is reviewed for completeness and content by the Economic Development Program Specialist and an Economic Impact Analysis is prepared by the Department’s Statistician. 3. Application is then presented to the Louisiana Economic Development Corporation (LEDC) for approval. 4. Contract is prepared in accordance with the State’s approval process.
FOR ADDITIONAL INFORMATION CONTACT: Brenda Guess, Economic Development Manager Louisiana Economic Development Corporation P. O. Box 94185, Baton Rouge, LA 70804-9185 1051 North Third Street, Baton Rouge, LA 70802 Phone: 225/342-5675 Fax: 225/342-0142 E-mail: guess@la.gov Forms/On Line: www.louisianaforward.com FOR MORE INFORMATION CONTACT: St. Tammany Economic Development Foundation 21489 Koop Drive, Suite 7, Mandeville, LA 70471 Phone: 985-809-7874 Fax: 985-809-7596
