JEDCO Q2 Newsletter

JEDCO Q2 NEWSLETTER

The second quarter of 2023 proved to be extremely busy and impactful. Not only did JEDCO celebrate international Economic Development Week with networking events and information sharing, but the team also jumped into the deep end of major projects and initiatives that will have long-term impacts on our businesses and residents, including the Jefferson Parish Industrial Zoning Study and the latest in home insurance.

In Q2, JEDCO hosted 54 HEART to HEART retention meetings with local business owners. The team also met with 14 startup companies! JEDCO’s industry recruitment arm generated 25 prospective business leads and is currently working on 14 active business and attraction projects, which have the capacity to bring in over $3 billion in investment. Since the beginning of the year, the JEDCO Finance Team has funded 16 loans with a total project cost of over $3.4 million. JEDCO loans covered 63% of total project costs.

Our team is hard at work to not only enhance the economic climate in Jefferson Parish, but to also improve quality of life for our residents. This holistic approach to economic development helps make our community a more competitive and dynamic destination for business. None of this would be possible without our partners, stakeholders, and elected leaders working in tandem to better the economic climate in Jefferson Parish every day.

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TOP THREE TAKE-AWAYS

Seafood Success Story: JEDCO celebrated the grand opening of Inland Seafood in early Q2. The national seafood distributor, which is 100% employee owned through an Employee Stock Ownership Program (ESOP), invested approximately $4 million in the purchase and renovation of a 14,000 square-foot facility in Elmwood, bringing 55 jobs to Jefferson Parish. This is a major win for the local seafood and culinary industries. Read more here.

Destination Healthcare: Ochsner Health System recently announced a 10-year partnership with MD Anderson Cancer Center. Ochsner co-branded seven of its cancer centers in Greater New Orleans and Baton Rouge as Ochsner MD Anderson Cancer Centers. The partnership will allow physicians to be certified by MD Anderson while also collaborating with the Houston-based facility on patient care and clinical trials. Meanwhile, our partners at LCMC Health continue to invest in Jefferson Parish. The healthcare provider recently committed $100 million in upgrades at East Jefferson General Hospital. There is no doubt that world-class, destination healthcare is available right here in Jefferson Parish.

Geaux West: The Huey P. Long Bridge widening project was completed 10 years ago. Since then, the bridge has served as a gateway to the region’s preferred destination for foreign direct investment, high-paying jobs, and global companies. JEDCO President and CEO Jerry Bologna highlights the dynamic impact of the bridge widening project in this NOLA.com Letter to the Editor. Read the letter here.

FOCUS ON FINANCE

JEDCO offers three creative, non-traditional financing options to provide strategic opportunities for business in Jefferson Parish and across the state. We’re proud to share wins and recognition from the last three months.

Crescent City Ninja Academy, the only dedicated American Ninja Warrior facility in Louisiana, celebrated its grand opening in May. JEDCO financed 100% of the project and provided significant site selection support.

Studio KP, a woman-owned, full-service salon, opened its doors in Metairie using the SBA 504 loan program. JEDCO financed 40% of the project, which covered the construction of the beautiful new facility.

As a Certified Development Corporation, JEDCO has the ability to fund projects across the state. We recently celebrated the grand opening of Westfield Fluid Controls manufacturing facilit y in Lafayette. JEDCO financed nearly $2.3 million of this project through the SBA 504 Loan Program, which will create 67 new jobs in Acadiana. While this project is outside of Jefferson Parish, the processing and administrative fees come back to JEDCO to support economic development activity within our community.

THE HEART BEAT

The developers of Avondale Global Gateway announced plans to relocate their headquarters to Jefferson Parish. T. Parker Host will operate out of the former Avondale Shipyard site. More here.

With JEDCO Board approval, JEDCO engaged a team of consultants to begin Phase 2 Implementation of the Churchill Park Master Plan, which included the development of a Strategic Business Plan to guide Churchill Park enterprises, progress and activities as well as the development of a multi-tenant office building.

In 2021, JEDCO received grant funding from the Environmental Protection Agency to bring long dormant industrial sites back into commerce. The $600,000 grant has been used to assess possible Brownfield sites on the West Bank. To date, JEDCO has funded assessments of 6 sites and has utilized 50% of the budget.

Metairie ranked among one of the top 100 places to Live in the US in 2023! Read about it here!

Progress continues on the Treasure Chest Casino. The $100 million investment will move the floating casino to land and provide new offerings (and more space!) than the current facility. Link here.

Pigeon Caterers announced plans to move their headquarters to Jefferson Parish. JEDCO provided significant support on this project. Link here.

1^st Lake Properties will soon break ground on the Alluvia, a 260-unit luxury apartment complex in Kenner. Link here.

The Jefferson Business Council, in partnership with JEDCO, Jefferson Chamber of Commerce, and Jefferson Community Foundation, recently completed a Quality of Life study for Jefferson Parish with overwhelmingly positive results. See the full report here.

Congratulations to Anthea Smith, JEDCO Marketing and Communications Strategist. She recently graduated from the Leadership Jefferson Program, Class of 2023.

JEFFERSON PARISH PULSE

Looking for a new podcast? Check out Jefferson Parish Pulse powered by JEDCO. We interview local business leaders, economic development drivers, and key partners about the continued growth of the Jefferson Parish economy. Season 6 launched earlier this summer, featuring interviews with Jefferson Ready Start Network, Pond & Co, and The Meetery.

Listen on Apple Podcasts, Spotify, Stitcher or anywhere else you listen to your favorite shows.

Email Jefferson Parish Pulse host Kelsey Scram at kscram@jedco.org to recommend a guest for future seasons or to provide feedback.We love to hear from you!

JEDCO and the Jefferson Chamber of Commerce are pleased to co-host a monthly seminar series to educate and engage with our small business leaders. Topics range from marketing and social media to leadership, culture, and Human Resources. Check out our Prosper Jefferson webpage for links to upcoming seminars.

All Prosper Jefferson seminars are hosted at the JEDCO Conference Center from 9:00 am - 10:30 am. Tickets are $10. Breakfast is included.

VISIONARY INVESTORS

JEDCO delivers game-changing initiatives with support from investors in the local business community. They help shape the future of Jefferson Parish with their generous contributions. We're excited to share that Red River Bank & Citizens National Bank have signed on as EDGE Investors this year.

We are also proud to share and promote our highest level investors below. Learn more about The Jefferson EDGE here.

The Jefferson Parish Department of Floodplain Management and Hazard Mitigation would like to remind everyone about the importance of being storm ready and prepared to evacuate if required.