EDA: $1.3 Million Invested to Create Biotech Labs in the University of New Orleans Research and Technology Park

Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.3 million grant to the New Orleans Business Alliance, New Orleans, Louisiana, to support the development of wet lab space and a clean room as a key component of the Information Technology Center at the University of New Orleans (UNO) Research and Technology Park. This EDA project, to be matched with $370,000 in local funds, is expected to create 39 jobs, retain 19 jobs, and generate $5.1 million in private investment.

“President Biden is committed to ensuring that our communities are provided with the resources they need to diversify and grow their economies,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment in the New Orleans Business Alliance will create laboratory space to support growing biotech companies in the region, attracting new businesses and creating a diverse, resilient regional economy.”

“The Economic Development Administration is pleased to support the New Orleans Business Alliance as they seek to enhance the region’s economy,” said Michele Chang, Deputy Assistant Secretary for Policy. “This project will design and construct two wet labs and a clean room within the existing Information Technology Center, providing biotech laboratory space to support businesses and create well-paying, quality jobs for the region.”

“I am gratified that the Biden Administration has chosen this important project for funding,” said Congressman Troy A. Carter, Sr. (LA-02). “Growing our region’s economy is one of my top priorities in Congress and I look forward to continuing to partner with groups like the Greater New Orleans Business Alliance to secure federal funding to do so.”

This project was made possible by the regional planning efforts led by the Regional Planning Commission’s Southeast Development District (RPC). EDA funds RPC 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.

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