WASHINGTON— Today, US Senator Bill Cassidy, MD (R-LA) announced Ouachita Parish will receive a $1,500,000 investment award to help stimulate new commercial and industrial development in Northeast Louisiana, as well as job growth. The Economic Adjustment Assistance Award from the Economic Development Association (EDA) will increase infrastructure projects and save 94 jobs, create 80 new jobs, and leverage $20 million in private investments.
“This investment will help provide long-term benefits to the families and local businesses in North Louisiana,” said Dr. Cassidy. “It will protect the jobs of hard-working Louisianans, while generating new employment opportunities and improving the infrastructure in the region.”
Notice of Investment Award
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Title: |
Expansion of Access Road |
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DOC Bureau: |
Economic Development Administration |
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Investment No and Type: |
08-79-05161 – Economic Adjustment Assistance |
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Applicant: |
City of Monroe
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Contact Information: |
Robert Waxman, Consultant (318) 387-9751, rwaxman@bayou.com
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City/County, State: |
Monroe/Ouachita Parish, LA |
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U.S. Congressional District |
5 |
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EDA Investment Amount: |
$1,500,000 |
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Total Project Cost: |
$2,368,492 |
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Anticipated Impact/Outcome: |
80 jobs created, 94 jobs saved, and $20 million in private investment leveraged. |
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Description: This EDA investment funds the construction of road infrastructure and related appurtenances to support the expansion of Venable Lane from US Highway 165 to the new entrance/access road linking CenturyLink Village at the IBM Building. The improvements will serve as a catalyst for new commercial and industrial development and job creation in Northeast Louisiana.
EDA grants are awarded through a competitive process based upon the application’s merit, the applicant’s eligibility, and the availability of funds. More information on EDA’s grant process and investment process can be found at www.eda.gov. |
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Should you have any questions, please contact EDA at (202) 482-2900. |
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