§ 51:961 — Local Economic Development Support; Louisiana Economic Development

§961. Local Economic Development Support; Louisiana Economic Development
authority
A. The activities of the various parish and regional economic development
organizations in the state shall be supported through the Local Economic
Development Support Program as developed by Louisiana Economic Development
and only in the amounts appropriated each year by the legislature.
B.(1) Louisiana Economic Development, through its office of commerce and
industry, shall provide by rules and regulations promulgated under the Administrative
Procedure Act for a Local Economic Development Support Program.
(2) The rules and regulations shall incorporate a distribution formula that
shall use as its basis the population, the number of business establishments, and the
level of services associated with each recipient of funding. The funds shall be
distributed pursuant to a contract between the recipient and the department that
clearly specifies the services to be performed by the recipient and the territorial
jurisdiction for which the recipient is responsible in rendering its services.
(3) The services to be rendered may include but are not limited to the
following:
(a) Submission of community data summaries on all relevant communities
in the jurisdiction.
(b) Submission of information on approved forms for all industrial parks and
sites over five acres and industrial buildings over twenty thousand square feet in the
jurisdiction.
(c) Submission of an annual report on visual inspection of properties in (b)
herein.
(d) Submission of a quarterly update on availability of properties in (b)
herein.
(e) Submission of an office space guide on an annual basis.
(f) Development of marketable properties.
(g) Cooperation in prospect activities, including but not limited to the
development of adequate local sales teams, promotional literature, and participation
in prospect trips.
(h) Development of local development corporations.
(i) Coordination of the Ready Cities Program.
(j) Identification of opportunities for joint federal and state project funding
and appropriate grantsmanship.
(k) Joint federal and state procurement assistance.
(l) Loan packaging.
(m) Moderately complex financing assistance.
(n) SBIR application assistance.
(o) Identification of licensing or joint venture opportunities and managing
such projects.
(p) Export assistance.
(q) Identification of opportunities for establishing of businesses.

Legislative History

Acts 1984, No. 634, §1; Acts 1992, No. 984, §16.