Louisiana is putting another $50 million on the table as the state continues an aggressive effort to prepare industrial sites before companies come calling.
Louisiana Economic Development announced this week that applications for the second round of the state's FastSites program will open October 1 and run through December 1.
The program provides funding for infrastructure and improvements intended to make Louisiana properties more competitive for major economic development projects.
Unlike the traditional model of waiting until a company selects a community before addressing roads, utilities and other infrastructure needs, FastSites is designed to get that work moving beforehand.
Projects competing in the new round must be development-ready, capable of beginning construction within nine months, include matching funds and demonstrate a path for repayment.
The $50 million round is part of the $200 million Site Investment and Infrastructure Fund established by the Louisiana Legislature.
For Acadiana, there is already a significant example of what this program can mean.
Earlier this year, Louisiana committed $10 million in FastSites funding toward infrastructure improvements at Acadiana Regional Airport in New Iberia. That investment is supporting a planned $74 million hangar and site development connected to the expansion of Aviation Exteriors Louisiana.
Louisiana Economic Development estimates that project could ultimately generate 845 new job opportunities in the Acadiana region.
That is what makes the second round worth watching.
Louisiana has recently announced enormous private investments ranging from artificial intelligence data centers to aerospace, manufacturing and energy projects. But winning the next project may depend on whether communities have usable industrial property when companies begin looking.
A site with inadequate electrical capacity, water, sewer, road access or other infrastructure can quickly find itself eliminated from consideration.
FastSites is an attempt to address that problem before a prospect ever arrives.
The question for Acadiana now is which local governments and economic-development organizations will pursue a piece of the next $50 million — and what properties they believe could become the region's next major employment centers.
Applications open October 1.
For a region now preparing for growth associated with aerospace, advanced manufacturing and other major investments, that is a process worth following closely.
