Louisiana Economic Development Business Inncentives

EQ_Louisiana_Incentives_Snapshot


BioDistrict Finance and Tax Exempt Authority

The BioDistrict enabling legislation provided for a powerful set of development tools to encourage the leverage of private investment along side of that of the public investment. The District plans to use this authority to accelerate the creation of more jobs in the bioscience industry.

BioDistrict Powers

The range of powers include the power to establish public-private partnerships and joint ventures for the benefit of the Districts. The BioDistrict may contract with private concerns who may be granted leases, right-of-use, or other concessions for contributing private at-risk capital for a particular BioDistrict project or program to construct, acquire, reconstruct,rehabilitate, improve, repair, operate, lease, as lessor or lessee, or enter into contracts for the management and operation of support facilities that are useful, necessary, or convenient, including but not limited parking facilities, hotels, office buildings for researches and medical practices, retail, schools, dormitories, homes for residences for professionals. All for the purpose of developing an industry hub environment.

Financing Opportunities

To assist with the financing of projects, the BioDistrict may issue bonds to fund structures or facilities, including furnishings and equipment thereof and may use any other state law relative to the incurring of debt and the security thereof by a political subdivision.

Exemptions of BioDistrict Projects from Property and Sales Tax

The BioDistrict and any subdistrict created by the BioDistrict is not subject to pay any taxes including but not limited to sales and use tax, ad valorem taxes, income, or any other taxes of any kind or nature, or assessments upon any property acquired or leased by the BioDistrict and any subdistrict created by the  BioDistrict, or upon the income therefrom, and any bonds issued and the income therefrom is exempt from taxation by the sate and by parish, municipality, or other political subdivision of the sate.

BioDistrict Financing Process

 


FAQs

What is BioDistrict New Orleans?

Where is the BioDistrict located?

What is the vision of BioDistrict New Orleans?

What is the mission of BioDistrict New Orleans?

What are the major building blocks of building a biosciences industry?

What are some of the new catalytic projects in the BioDistrict?

What is the BioDistrict doing in its master planning process?

What is the difference between GNOBEDD (The Greater New Orleans Biosciences Economic Development District) and BioDistrict New Orleans?

Who is the BioDistrict New Orleans team?

What are the bioscience and biomed workforce trends and training opportunities in the Greater New Orleans area?

What are the projected economic impacts of the BioDistrict?


What is BioDistrict New Orleans?

BioDistrict New Orleans, officially called The Greater New Orleans Biosciences Economic Development District, is a state agency that was created by Act No. 487 of the Louisiana State Legislature in the 2005 regular session.

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Where is the BioDistrict located?

The BioDistrict comprises 1,500 acres spanning the Downtown and Mid-City neighborhoods of New Orleans. The BioDistrict is bounded by Earhart Boulevard, Carrollton Avenue, Loyola Avenue and Iberville Street.

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What is the vision of BioDistrict New Orleans?

The vision of the BioDistrict is to build a globally competitive economy for the New Orleans region to diversify our opportunities and build a community through innovation that contains the healthiest, safest, smartest and most sustainable neighborhoods in America.

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What is the mission of BioDistrict New Orleans?

As derived from the enabling legislation of Act No. 487 of the Louisiana House of Representatives Session of 2005, the mission of the BioDistrict includes:

  • Facilitating the creation of high-paying jobs in the region by increasing the current health and biosciences workforce
  • Growing the academic research institutions in the region by increasing investment in clinical, biosciences, and health-related research and training
  • Enhancing interdisciplinary collaboration among the biosciences by locating key research institutions and private sector biosciences companies within a designated biosciences district.

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What exactly is “bioscience”?

Bioscience, or life science, can be defined as an ever-evolving interplay of biology, health and technology in research, innovation and commercialization. It involves not only medical enterprises, but also biotechnology and environmental research for sustainability.

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What are the major building blocks of building a biosciences industry?

To create and sustain a biosciences industry specific to the New Orleans region, the BioDistrict must focus on:

  • Workforce Development
  • Education and the Sciences
  • Specialized Facilities
  • Public Policy
  • Business Community
  • Convention Industry
  • Capital Formation

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What are some of the new catalytic projects in the BioDistrict?

Some of the most exciting developing projects in the BioDistrict include the new Veterans Affairs Hospital, the new University Medical Center, Louisiana Cancer Research Center, and the New Orleans BioInnovation Center. Other exciting improvements in the District include Champions Square at the Louisiana Superdome, Benson Tower, and the renovation of the Hyatt hotel. The BioDistrict’s existing cornerstone educational facilities include Xavier University of Louisiana, LSU Health Sciences Center, Tulane University Medical Center, Delgado Community College, and Dillard University.

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What is the BioDistrict doing in its master planning process?

The BioDistrict is currently engaged in a four-phase, 14-month master planning process. The master planning team consists of AECOM, CB Richard Ellis, Cannon Design, Chester Engineering, The Ehrhardt Group and Bright Moments. Working Papers and other deliverables produced for the BioDistrict New Orleans Master Plan can be viewed in the Resources page.

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What is the difference between GNOBEDD (The Greater New Orleans Biosciences Economic Development District) and BioDistrict New Orleans?

No difference at all—we are one and the same. The state agency now refers to itself as “BioDistrict New Orleans” for ease of use and immediate recognition of the area and the mission of the District.

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Who is the BioDistrict New Orleans team?

BioDistrict New Orleans is made up of a dedicated full-time staff, as well as a 12-member Board of Commissiners, all currently fully seated. Board members include representatives from each of the major academic and medical institutions, including Xavier University, Delgado Community College, Louisiana State University, Tulane University, and Ochsner Health System. The Board also includes four appointments from the Governor of Louisiana and one from the Department of Louisiana Economic Development (LED). In addition, the Mayor of New Orleans also has four appointments representing individuals from GNO, Inc., the New Orleans Business Council, the New Orleans Chamber of Commerce, and a seat for the Mayor at Large, currently filled by Deputy Mayor of New Orleans, Andrew Kopplin. James McNamara is the BioDistrict President and CEO. For staff listing and contact information, please click on Contact.

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What are the bioscience and biomed workforce trends and training opportunities in the Greater New Orleans area?

A gap surplus analysis of the bioscience and biomedical workforce in New Orleans was commissioned by the New Orleans BioInnovation Center on behalf of the BioDistrict in October 2009. The study was funded by a grant from the Baptist Community Ministries foundation. The final report will not be available in April 2011, but the preliminary analysis of existing workforce data conducted by Research Edge can be viewed in here.

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What are the projected economic impacts of the BioDistrict?

Consultants from GCR & Associates, Inc. have conducted research and prepared reports on the demographic and economic baseline of the BioDistrict in 2010 and the BioDistrict’s projected economic impact in terms of direct and indirect job creation as well as tax revenue.

The purpose of these Demographic And Economic Baseline Report is two-fold. First, it provides the BioDistrict and its partners with credible indicators of current demographic and economic data with which to analyze public and private investment opportunities, programmatic initiatives, and market potential. Secondly, is serves as a benchmark to measure the ongoing impact of the growth of the biosciences industry on the District’s population, demographic composition, economic competitiveness, and real estate dynamics. Five, ten, or twenty years down the road, the most cogent and concise way to analyze the effects of the BioDistrict’s efforts will be to compare those future conditions to the 2010 starting point.

The primary purpose of the Economic Impact Study is to present the substantial job creation and tax revenue which will result directly from current development within the BioDistrict (LCRC, VA, UMC). The secondary purpose is to compare local developments to existing bioscience and medical research clusters throughout the nation and thereby illustrate the growth of medical research as a major industry within a local community and the economic importance of the industry to the community.

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Leadership

CIVIC LEADERSHIP: A major component of creating a healthy, smart and sustainable BioDistrict in New Orleans is for its representative state agency to serve as a leader of advocacy that will solidify improvement, opportuntity and real results. The BioDistrict serves as the ongoing ambassador and liaison between the city, state and federal government, private businesses, and educational institutions.

Notes from Meetings with Federal Leaders:

Meeting with Fredrick Tombar, Senior Advisor, HUD

Meeting with Pedro Garza, Regional Director, EDA


Community

COMMUNITY: The BioDistrict will anchor a vibrant, mixed-use urban community containing the healthiest, smartest and most sustainable neighborhoods in the country, all while retaining what is and has always been unique to the culture of New Orleans. It is of utmost importance that the BioDistrict creates a managed environment to live, work and invest.

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About BioDistrict New Orleans

The Greater New Orleans Biosciences Economic Development District (GNOBEDD), now referred to as BioDistrict New Orleans, is a state-enabled economic development district (with taxing and bonding authority) that was created by the State of Louisiana in 2005 and charged with the responsibility of growing both the programmatic and physical development components of the biosciences sector of the New Orleans economy. The 1,500-acre district spans the downtown and Mid-City areas of New Orleans, bounded by Earhart Boulevard, Carrollton Avenue, Loyola Avenue and Iberville Street. The BioDistrict is focused on the development of a biosciences industry in New Orleans that will provide world-class biosciences research and development; local, regional, and global healthcare delivery; and stable, high-paying jobs for professionals, managers and workers representing a wide range of skills. Through partnerships among major educational and research institutions, private companies, government agencies and independent foundations, BioDistrict New Orleans will create opportunities for workforce training and research needed to build a successful biosciences industry.

The BioDistrict Board of Commissioners is comprised of 12 members, and is currently fully seated. Board members include representatives from each of the major academic and medical institutions, including Xavier University, Delgado Community College, Louisiana State University, Tulane University, and Ochsner Health System. The Board also includes four appointments from the Governor of Louisiana and one from the Department of Louisiana Economic Development (LED). In addition, the Mayor of New Orleans has three appointments representing individuals from GNO, Inc., the New Orleans Chamber of Commerce, The Business Council of New Orleans and the River Region, and a seat for the Mayor at Large, currently filled by Deputy Mayor of New Orleans, Andrew Kopplin. James P. McNamara is the BioDistrict President and CEO.

In order to realize its vision and accomplish its mission, BioDistrict New Orleans has been given a $2.4 million grant by the Louisiana Recover Authority to conduct a four-phase, 14-month master planning process. This plan includes a comprehensive analysis of the BioDistrict’s current status coupled with an extensive outreach to local communities, businesses, educators, and civic and political leaders.

The master planning team consists of AECOM, CB Richard Ellis, Cannon Design, Chester Engineering, The Ehrhardt Group and Bright Moments. The results of the three phase planning study will be offered to BioDistrict New Orleans as the blueprint for the development of a world-class biosciences industry. When adopted, the BioDistrict Plan will include recommendations for tangible and attainable goals to take advantage of the area’s urban design character, infrastructure and utility systems, community setting and economic and market advantages.


Economic Development

ECONOMIC DEVELOPMENT: BioDistrict New Orleans is focused on creating and sustaining an economic development engine for our community through globally competitive bioscience and environmental research and development. By enhancing opportunities for commercialization and innovation, we will strengthen seed and venture capital, as well as create incentives to encourage investment. This economic development will create an estimated 22,000 new jobs for the city of New Orleans over the next eight to ten years, not only in the biosciences, but also in banking, law, construction and a plethora of other service industries that stand to benefit. Already, the BioDistrict is continually working to provide technical assistance, grant writing and other means of facilitation to encourage growth. By encouraging public-private partnerships and collaboration between our cornerstone institutions, the BioDistrict will create a sustainable and resilient innovation economy for the greater New Orleans region.

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Helpful Info

BioDistrict New Orleans

1515 Poydras Street, Suite 150
New Orleans, LA 70112

Telephone: 504-593-6454