U.S. Department of Commerce Invests $1.1 Million for Roadway Infrastructure Needed to Support Disaster Resiliency and Business Growth at Louisiana State University’s Innovation Park
WASHINGTON – Today, U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.1 million grant to Louisiana State University (LSU) of Baton Rouge, Louisiana, to build new roadway infrastructure to LSU’s Innovation Park. According to grantee estimates, the project is expected to create 2,100 jobs and spur $80 million in private investment.
“The Trump Administration is committed to creating new opportunities in American towns and cities through infrastructure reinvestment,” said Secretary of Commerce Wilbur Ross. “This project will not only help the community weather devastating storms, but also provides local businesses with room to grow.”
“This achievement accelerates the evolution of a lonely research outpost to an economic development hub that is home to one of the nation’s leading business incubators and to some of the most advanced cyber security and software development anywhere,” said Congressman Garret Graves. “The new access point will open the park to greater innovation, research, academic excellence and economic development, the benefits of which will extend to the nearby National Guard, Emerge Center and Gardere community.”
This roadway project will provide “front door” access to LSU’s Innovation Park, opening up 150 acres of land. Access to this portion of the Park will allow the development of facilities that could accommodate up to 42 new companies. Additionally, the National Guard will use this road to access their training and disaster recovery center, which will enhance disaster resiliency and mobility for the future. This project was made possible by the regional planning efforts led by the Capital Region Planning Commission (CRPC). EDA funds 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 makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.