February 6, 2024

EDA: $3.3 Million Invested to Support Business and Green Industry Growth in Louisiana

Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is investing $3.3 million in the state of Louisiana to support business and green industry growth.

The EDA investments announced today are:

“President Biden’s Investing in America agenda is spurring economic growth through targeted investments in Louisiana and across the country,” said Secretary of Commerce Gina Raimondo. “These EDA investments will support the regions around Lake Charles and New Orleans as they seek to expand their economies through upgraded infrastructure and sustainable, equitable industry growth.”

“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 Lake Charles and New Orleans to create jobs through the infrastructure, training, and support to expand business growth and strengthen Louisiana’s role in the green economy.”

“This funding for Louisiana reflects a strategic focus on both infrastructure expansion and sustainable industry growth. The grants for Chennault International Airport and Thrive New Orleans will lead to new job creation and private investment, and highlights Democrat’s dedication to fostering resilient and equitable economies across the country,” said Representative Troy A. Carter, Sr. (LA-02).

“The Chennault International Airport plays a critical role in our region,” said Representative Clay Higgins (LA-03). “This airport is a hub for industrial activity and emergency operations following major disasters. This investment provides the airport’s campus with the necessary tools to increase resiliency and further economic development for Southwest Louisiana.”

These projects are funded under the Disaster Relief Supplemental Appropriations Act, 2023, which provided EDA with $483 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery for areas that received a major disaster declaration under the Robert T. Stafford Act as a result of Hurricanes Ian and Fiona, wildfires, flooding, and other natural disasters occurring in calendar years 2021 and 2022. Please visit EDA’s Disaster Supplemental webpage for more information.

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.

This post was originally published here.