Entergy awards TEDA $10,000 grant

With $10,000 seed money from Entergy Louisiana, the Terrebonne Economic Development Authority is set to launch its latest economic-development strategy.

TEDA hired Competitive Strategies Group LLC, an Atlanta-based site-selection consulting firm, to evaluate and offer recommendations on three levels relating to supporting and expanding the local economy.

The firm first examined TEDA’s organizations, operations and funding. Next, it reviewed marketing of the parish and its assets for future growth. And finally, it evaluated the parish as a whole in terms of its readiness and desirability on site-location criteria.

Community focus-group meetings were held, at which local government and quasi-government agencies (including parish officials, tourism representatives and the chamber of commerce), industrial employers, the real estate community (including Realtors, developers and bankers), and all levels of public and private education sectors were represented.

The plan cited the following needs:

• Identification of alternative energy, recreational boat manufacturing, seafood processing/culinary, call centers and engineering services as target markets for industry growth

• Citation for the organization to create a “Project Opportunity Fund” to close deals on certain economic development projects, a tool used by other communities in the recruitment of industry

• Marketing of the region within the United States and globally as a low-cost location for business

• Emphasis on beautification of the community through cleanup programs and enhancement of community gateways

• Creation of a food and small business incubator to encourage entrepreneurial activity

• Development of a mixed-use business park for economic development

• Expansion of local tax incentive programs to encourage business investment

Entergy’s Community Development Program awarded TEDA a grant to implement the plan recommended by Competitive Strategies.

“Maintaining and including community stakeholders in the strategic planning process is the cornerstone of economic development,” said Michael Ferdinand, TEDA’s CEO. “We appreciate Entergy’s participation in the planning process and assistance in implementing the next step.”

The grant is further evidence of Entergy’s intention to be more visible in supporting local economic-development efforts, said Henry Gernhauser, Entergy’s regional customer services manager. It is a continuation of the relationship the company has been building with TEDA and Terrebonne Parish.

For more info, visit www.tpeda.org.