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Department of Economic Development

Significant Enhancements to Base Funding
DED received enhanced funding for a number of projects.

• $800,000 for Gene Therapy Lab for operating expenses
• $292,750 for Wet Lab operations in New Orleans and Shreveport
• $641,666 in TANF IAT for the Microenterprise Program
• $100,000 for the Essence Music Festival
• $715,521 in the Marketing Fund for advertising
• $3.5 million in LEDF debt service funding for UNO Center of Excellence at Northrup Grumman Ship Systems Avondale Project (first year of a 20 year commitment)

Other Economic Development Efforts

• $4.96 million in bond debt for the 7th year of a 20 year commitment for the UNO Research and Technology project at Avondale
• $1.7 million in Small Business bonding and business development activities
• $4.3 to the La. Technology Park in Baton Rouge (commitment through FY08)
• $1.8 million in sports initiatives
• $2.4 million supporting state, regional, federal partnerships
• $96,000 for a economic development activities associated with the military segment of the state's economy:$50,000 for a liaison with the federal government and $46,000 for a study assessment
• $302,860 for foreign representatives in the Far East, Europe, and Latin America