The U.S. Department of Commerce has awarded a $2.4 million grant to spur business recovery in Louisiana in response to the coronavirus pandemic.
Louisiana Economic Development said it will match the federal funds with $600,000 to create a $3 million initiative. LED will work with economic development agencies across the state on efforts to retain and attract businesses.
LED said it will work with economic development organizations and small business service providers to identify pandemic recovery projects, so it can fund local efforts that will have the biggest impact on the state’s recovery.
The money from the Commerce Department’s Economic Development Administration is part of the CARES Act, which was passed by Congress in the spring.