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Katrina-Rita Economic Development Programs

Project-Based Recovery Opportunity

This program funds unmet, large-scale recovery projects. PROP provides direct, low-interest loans intended to:

  • Assist neighborhood and local economic development priorities;

  • Invest in commercial corridor revitalization;

  • Support key local and state industry sectors;

  • Spur long-term job creation, economic revitalization and long-term sustainability; and
  • Employ disaster recovery resources to leverage private resources.

More informatio​n about PROP


 

Innovation Loan and Technical Assistance

Funds sub-recipients who provide to small or start-up businesses technical assistance, small loans or a combination of both. The technical assistance includes: financial management; one-on-one counseling; business plan development; and development of a Web site. Loans range in size from $50,000 to $500,000 and can be used for equipment, inventory and either real estate acquisition or construction.The current Innovation program combines both Katrina/Rita and Gustav/Ike CDBG funds and began in 2010.
 

Recovery Workforce Facilities

$20 million will be used to develop a facility to house workforce training programs implemented by Southwest Louisiana Technical Community College (SOWELA). Post-storms, Louisiana has seen a dramatic increase in the extraction of natural gas, and multiple secondary industries have located or expanded in storm-affected areas. As these secondary industries increase their presence, and as pre-storm industries are adversely affected by the economy, it is critical for residents to have access to training that will make them employable in this altered economic environment.
 

Bridge Loan**

Immediately following the 2005 storms, the state instituted a Disaster Bridge Loan program for small businesses to bridge the gap that exists from when the need arises until the time insurance pays a claim or a SBA Disaster Loan is funded.

**Program activities have been completed.


 

Business Recovery Grant/Loan**

Through a partnership with the state Department of Economic Development, this program provided immediate financial relief to restart and sustain small businesses in the most impacted areas of Louisiana, particularly those that experienced a decrease in revenue after the storms. Funds were awarded to nine community based nonprofit organizations to administer the program.

**Program activities have been completed.

 

Technical Assistance to Small Firms**

Provided technical assistance to small businesses in the most impacted areas of Louisiana to help businesses adapt to a changed environment. Services included accounting, business planning, marketing, disaster planning and advertising. Was a companion program to Business Recovery Grant/Loan.

**Program activities have been completed.


 

Recovery Workforce Training**

Provided for training and placement of workers in critical recovery sectors including construction, healthcare, transportation, cultural economy, advanced manufacturing and oil and gas. Eighteen workforce training programs were provided funding through this program, which ended in 2010.

**Program activities have been completed.

 

Louisiana Tourism Marketing Initiative**

In cooperation with the state Department of Culture, Recreation and Tourism, this program promoted tourism in the storm-impacted parishes by increasing the number of visitors, thereby boosting Louisiana’s tax revenues and fostering national consciousness of our unique culture. Grants were made to 11 parishes for programs ranging from family tours to marketing campaigns to tell the story that Louisiana and its communities were open for business.

**Program activities have been completed.


 

Research Commercialization and Education Enhancement**

Program was administered by the Board of Regents and was developed to restore the economic impact of scientific and technology research facilities within higher education institutions in the most severely affected areas. The five-year program provided grants to 11 consortiums of universities in pharmacology, cancer biology, coastal protection and other sciences. The program resulted in 1,387 publications and the application and receipt of approximately 455 technology transfers, patents or licenses.

**Program activities have been completed.

 

Public Service - Cecil J. Picard/LA 4 Early Childhood Education

Provides funding to the Louisiana Department of Education for the Cecil J. Picard LA4 program to provide high-quality early childhood education to children who are from low- to moderate-income families and are eligible to attend kindergarten the following year.

Funding for this program combined both $15.7 million in Katrina/Rita funds and $20 million in Gustav/Ike, which was made available to the state Department of Education for the 2012-13 school year. The Katrina/Rita funds used were program income.

**Program is now closed out.

 

Other Katrina Recovery Programs:

Housing Programs
Infrastructure Programs
Planning Programs