BATON ROUGE, La. – Louisiana Economic Development announced the second round of Louisiana FastSites, continuing the state’s investment in infrastructure and site improvements that help communities compete for new economic development opportunities.
The Round II application period will open Oct. 1 and close Dec. 1, with $50 million available for eligible projects. Competitive projects must be development-ready and able to begin construction activities within nine months, include matching funds and demonstrate a path to repayment.
“FastSites is changing how Louisiana prepares for economic development by investing before infrastructure becomes a barrier," said LED Chief Economic Competitiveness Officer Ileana Ledet. "The first round showed the demand from communities ready to move critical site and infrastructure projects forward, and Round II builds on that progress by helping more communities put the infrastructure in place to compete for future projects.”
FastSites is backed by the $200 million Site Investment and Infrastructure Fund established by the Louisiana Legislature to support site development in every corner of the state. The inaugural round advanced projects that expanded development-ready acreage, improved access and utilities, and positioned sites for business expansion and new investment.
The program is designed to reduce the time, risk and cost associated with preparing sites for investment while extending the impact of the state’s dollars. By pairing state funding with local or private investment and requiring a path to repayment, FastSites allows repaid funds to be reinvested in future site development opportunities.
Eligible applicants include economic development organizations, municipalities, redevelopment authorities, political subdivisions and other qualifying entities. Privately owned sites may also be eligible under program requirements.
To help potential applicants learn more about the program and application process, LED will host a webinar on Friday, Sept. 18, at 1 p.m. Registration is available in advance here. After registering, attendees will receive a confirmation email with details about joining the webinar.
For more information about FastSites and application guidelines, visit OpportunityLouisiana.com/FastSites.