Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is investing $3.5 million in the state of Louisiana to make critical infrastructure improvements needed to support current and future business needs.
The EDA investments announced today are:
- Desoto Parish Police Jury, Mansfield, Louisiana, will receive $2 million grant for roadway extension and improvements to support growth at the I-49 Industrial Park. The project will be matched with $500,000 in local funds and is expected to create 118 jobs, retain 219 jobs, and generate $35 million in private investment, according to grantee estimates.
- Louisiana State University Agricultural Center, Baton Rouge, Louisiana, will receive a $1.5 million grant to renovate a pre-engineered metal building for use as a food innovation and manufacturing incubator. The project will be matched with $2.5 million in local funds and is expected to create 261 jobs and generate $10 million in private investment, according to grantee estimates.
“President Biden is dedicated to supporting communities as they seek to create new opportunities for business growth,” said Secretary of Commerce Gina M. Raimondo. “These EDA investments will provide modern infrastructure to support development and growth of new and existing businesses.”
“The Economic Development Administration plays an important role in supporting locally-developed strategies designed to create economic opportunity,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “EDA is pleased to assist Desoto Parish and Baton Rouge in their work to provide the infrastructure that their businesses need to grow and thrive.”
These projects were made possible by the regional planning efforts of the Coordinating and Development Corporation (CDC) and the Capital Region Planning Commission (CRPC), respectively. EDA funds CDC and CRPC to bring together the public and private sectors to create an economic development roadmap to strengthen the regional economy, support private capital investment and create jobs.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.