WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA) today announced the Department of Commerce is awarding $2.4 million in CARES Act funding to the Louisiana Department of Economic Development (LED) to establish a technical assistance program for restoring and enhancing economic growth in Baton Rouge due to the impacts of COVID-19.
“Louisiana was hit hard this year by the COVID-19 pandemic and a deluge of hurricanes that wrecked homes, businesses, schools and families,” said Dr. Cassidy. “This investment reinvigorates the Baton Rouge economy, ensuring local business owners receive the support they need to recover.”
The award is part of an investment by the Commerce Department’s Economic Development Assistance (EDA) bureau, and the project supports redevelopment and revitalization in the Baton Rouge area to address the economic development needs of communities that were affected by the pandemic. The EDA grant will be matched with $600,000 in local funds.
The project is beneficial to maintaining business support continuity, providing technical assistance to Louisiana businesses, strengthening LED’s business attraction and retention services and implementing long-term resiliency adjustments throughout the region.
Upon completion, the project will boost job creation, attract private investment and rejuvenate the regional economy.
The CARES Act, supported by Cassidy and signed into law by President Trump in March, provided the EDA with $1.5 billion for economic development assistance programs to help communities prevent, prepare for and respond to coronavirus.