NEW ORLEANS — U.S. Secretary of Commerce Gina M. Raimondo has just announced that the Department’s Economic Development Administration (EDA) is awarding a $1.3M grant to the New Orleans Business Alliance (NOLABA) to support the development of wet lab space and a clean room in the Information Technology Center at the University of New Orleans (UNO) Research and Technology Park. This EDA project, to be matched with $370K in local funds, is expected to create 39 jobs, retain 19 jobs, and generate $5.1M in private investment.
“President Biden is committed to ensuring that our communities are provided with the resources they need to diversify and grow their economies,” said Raimondo. “This EDA investment in the New Orleans Business Alliance will create laboratory space to support growing biotech companies in the region, attracting new businesses and creating a diverse, resilient regional economy.”
This project was made possible by the regional planning efforts led by the Regional Planning Commission’s Southeast Development District (RPC).
“This is a huge win and example of NOLABA’s impact within our rapidly-growing bio innovation industry,” said Interim President & CEO of NOLABA Norman E. Barnum, IV. “This project is a beautiful collaboration with one of our city’s strongest innovation assets – The Beach at UNO. The effects of this grant are forward-thinking and lay a foundation for an innovation cluster at The Beach, which benefits not only our academic and biotech communities but all facets of our New Orleans economy. We’re incredibly grateful to the EDA for this generous investment in our city and look forward to getting to work on this transformational project.”