LA: LED Boosts Louisiana's Economic, Resiliency Efforts
8 Mar, 2021
- Established LED help desks responding to over 1,850 calls and emails from businesses impacted by COVID-19 and hurricanes.
- Conducted five disaster surveys through LED’s Business Expansion and Retention Group, and monitored business conditions and needs through 1,538 interactions with economic driver companies in Louisiana.
- Created the Louisiana Loan Portfolio Guaranty Program, with the Louisiana Bankers Association and Louisiana Public Facilities Authority, to provide up to $50 million of COVID-19 assistance to impacted small businesses.
- Established an e-commerce initiative with Shopify to help small businesses create or enhance their web presence in the wake of COVID-19.
- Supported firms seeking COVID-19 federal aid that has led, so far, to nearly $10 billion in Paycheck Protection Program funds for keeping doors open and sustaining payrolls in over 107,000 Louisiana small businesses.
- Supported CARES Act grant applications to the U.S. Department of Commerce, leading thus far to $37 million in Economic Development Administration awards for Louisiana recovery assistance projects.
- Secured state-funded technology agreements totaling $3.3 million to spur workforce and STEM training at Southern University at Shreveport and LSU Shreveport.
- Staged the third Louisiana Entertainment Summit in February, with executives from Xbox, Microsoft and the Motion Picture Association.
- Assisted more than 17,500 small businesses and entrepreneurs through LED’s partnership with the Louisiana Small Business Development Center Network.
- Secured a $7.5 million U.S. Department of Defense award for new technology education centers at five Vernon Parish Schools that support Fort Polk military and area civilian families.
- Launched a SmartPort initiative with The Water Institute of the Gulf and Louisiana’s Mississippi River ports to digitize port operations and enhance maritime supply chains and emergency management operations.
- Created PAVE, the Pathway to Assist Veteran Entrepreneurs Program, to guide Louisiana military and veteran entrepreneurs in starting a business, through a partnership with the Louisiana Small Business Development Center Network, Louisiana National Guard and Louisiana Department of Veteran Affairs.
- No. 1 ranking for best economic development performance in the South, from Southern Business & Development magazine (based on 2019 results).
- No. 1 national ranking for the best state workforce training and talent attraction program – LED FastStart® – for the 11th consecutive year, from Business Facilities magazine.