|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||2||$1,500,000|
|*From prior year recoveries.|
During FY 2012, EDA made 10 grants totaling approximately $7.6 million throughout Louisiana to help the state become more disaster resilient and support sustainable, green economic growth. These EDA investments support the continued growth of regional biofuels and clean technologies industry clusters and increased disaster resiliency for communities that have suffered from continued flooding events allowing them to attract and retain business in the local economy. Disaster recovery investments also include technical assistance needed for business to recover quickly after a natural disaster. According to grantee estimates, the investments in Louisiana will create or retain 72 jobs.
Investment Spotlight: Private-Public Partnerships Build a Stronger, More Diverse Economy in New Orleans
The City of New Orleans has made tremendous progress in recovering from the devastating effects of Hurricanes Katrina, Rita, Gustav, Ike, and Isaac. With good strategic planning and strong collaboration between the public and private sectors, the economy of New Orleans is emerging stronger and more diverse than before the storms.
A public-private partnership between the City of New Orleans and the private sector, the New Orleans Business Alliance is the newly formed group helping the city grow and develop after Hurricane Katrina. In 2012, EDA invested $1 Million in the New Orleans Business Alliance to fund the development and implementation of a strategic plan to boost business and job growth in the city. The study will help the Alliance identify top sectors and opportunities for long-term job growth, outline strategies for developing those sectors, and present a unified economic development agenda that highlights New Orleans’ unique strengths as well as opportunities to enhance the city’s competitiveness. The strategic plan is already well underway. The Strategic Advisory Council has identified several cluster-specific areas of growth for the city. The five clusters are Advanced Manufacturing; BioInnovation and Health Services; Creative Digital Media; Sustainable Industries; and Transportation, Trade & Logistics.