Louisiana has introduced a $150 million initiative called FastSites, designed to accelerate economic development by transforming underutilized land and infrastructure into industrial-ready locations. Funded through the Site Investment and Infrastructure Fund established by Act 365 in 2025, the program aims to attract private investment and strengthen the state’s competitive edge in attracting large-scale business projects.
The effort prioritizes speed and accountability, requiring selected projects to begin construction within nine months of approval and demonstrate measurable economic impact. Financial support will be provided via forgivable loans, performance-based agreements, and targeted infrastructure upgrades—particularly in transportation, utilities, and rail access—to ensure sites can support sustainable industrial growth.
Ileana Ledet, chief economic competitiveness officer at Louisiana Economic Development (LED), described the model as one of the most innovative in the nation, blending public efficiency with private-sector momentum. The program is expected to empower communities across the state to compete more effectively for corporate expansions and new industrial ventures.
Public entities such as economic development organizations, municipalities, and redevelopment authorities are eligible to apply. Privately owned properties may also qualify if they meet criteria ensuring long-term community benefits and local investment. The first application period opens October 30 and closes December 15.
To assist applicants, LED will host an informational webinar on October 27 at 2 p.m., with registration available online.
— news from New Orleans CityBusiness
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Louisiana unveils $150M FastSites fund to accelerate economic growth
KEY TAKEAWAYS: n nLouisiana launches $150M FastSites fund to develop project-ready industrial sites. n nInitiative funded through the Site Investment and Infrastructure Fund created by Act 365. n nProjects must begin construction within nine months and show measurable returns. n nApplication window opens Oct. 30 and closes Dec. 15. n nLouisiana Economic Development (LED) has launched a $150 million initiative aimed at transforming undeveloped land and existing infrastructure into project-ready industrial sites, a move designed to attract new investment and enhance the state’s long-term economic competitiveness. n nThe new program, called Louisiana FastSites, is funded through the Site Investment and Infrastructure Fund established by Act 365 during the 2025 legislative session. It represents one of the state’s most aggressive efforts to date to streamline site development and reduce barriers for businesses looking to locate or expand in Louisiana. n n“This is one of the most forward-thinking site development models in the country,” said Ileana Ledet, LED’s chief economic competitiveness officer. “FastSites aligns government efficiency with private-sector speed, ensuring Louisiana can meet the demands of global investment while strengthening our communities and infrastructure.” n nThe initiative emphasizes speed, accountability and measurable results. Projects seeking FastSites funding must demonstrate clear economic returns, attract private investment and begin construction within nine months of approval. Financial support will be offered in several forms, including forgivable loans, performance-based partnerships and infrastructure investments tailored to each project’s potential impact. n nBy targeting infrastructure improvements—such as roads, utilities and rail—FastSites aims to transform land into development-ready platforms capable of supporting large-scale, sustainable growth. LED officials said the program is expected to help communities across Louisiana compete more effectively for business expansions and new industrial projects. n nThe application window for the first round of funding opens Oct. 30 and closes Dec. 15. Eligible applicants include public entities such as economic development organizations, municipalities and redevelopment authorities. Privately owned sites may also qualify if they meet specific criteria that ensure strong local investment and long-term growth. n nTo guide potential applicants, LED will host an informational webinar on Oct. 27 at 2 p.m. Registration is available here.