Lafayette Economic Development Authority (LEDA)

I. Power

The Lafayette Economic Development Authority is a political subdivision of the state of Louisiana created by legislative statute. Its purpose is to utilize members of the Lafayette business, parish and municipal governments, and the University of Louisiana at Lafayette as a council to guide an economic  and industrial development agency for Lafayette Parish.

MISSION: 

  1. “provide assistance to local companies in their growth, market development, and workforce development efforts”
  2. “to recruit additional companies considering locating in this area”
  3. “to assist in the development of new companies in order to diversify the economy within Lafayette Parish”

 The prime area to be served is the parish where the Lafayette Economic Development Authority, LEDA, is  located. In cooperation with other development agencies in the area, and in the broad aims of  economic development, it serves the whole Acadiana region.

The Lafayette Economic Development Authority operates under the statutes of Louisiana. LEDA is governed by a Board of Governors:

  • 12 commissioners serving on a volunteer basis
  • Qualifications: citizen of the US, residing in the district while serving
  • Two (2) must be Afro-American
  • Terms: 4 (four) year staggered terms, with a maximum of two consecutive terms

APPOINTING AGENCIES TO THE BOARD OF COMMISSIONERS: 

  • Area mayors (excluding City of Lafayette): 2 commissioners, one nominated by Lafayette Parish Farm Bureau
  • Under Lafayette City-Parish Consolidated Government, the Lafayette Parish President has 4 appointments: 2 commissioners for Lafayette Parish (one of whom is nominated by the Central Labor Council of Lafayette) and 2 commissioners for the City of Lafayette (one of whom is nominated by the Chamber of Commerce). The President, in lieu of a mayor of the City of Lafayette, may serve as one appointment.
  • Under Lafayette City-Parish Government, the City-Parish Council appoints 4 commissioners: 2 for the City of Lafayette, one of whom is Afro-American, and 2 for the Parish of Lafayette, one of whom is Afro-American.
  • University of Louisiana at Lafayette: 2 commissioners. The  President of the University may serve as  one commissioner.

II. Services

LEDA exists to encourage new business and industry, expand existing businesses, aid in relocating and recruiting business to Lafayette Parish, and encourage workforce development and expansion .  It also provides services to the public  in the areas of developing downtown, technology, marketing, information services, digital media, and research.

The scope of work for LEDA assists the public through its research on:

    • Economic Indicators
    • Industry Research
    • Available Real Estate
    • Ombudsman Assistance
    • Tax Incentive Programs
    • Industrial Revenue Bonds
    • Industrial Parks (owns and markets four industrial parks)
    • Job Fairs and Searching
    • Networking Luncheons

There are seventeen (17) salaried staff members and 6 paid interns at present. A number of paid interns studying at the University of Louisiana at Lafayette are currently in Accounting, Downtown Development, Business Development, Entertainment Initiative, Business Retention & Workforce Development, Marketing, Technology, Administration, and Special Projects.

OPEN MEETING REQUIREMENTS:  The Board meets on the last Monday of each month at 5:00 p.m. Notices and agendas are posted on site and published in the Daily Advertiser.

III. Money

LEDA can issue Revenue Bonds “in certain instances, subject to the requirements set forth by the State of LA.”

A   budget is prepared and presented at a public hearing.  The Board then approves the Budget and submits it to the Lafayette City-Parish Council for approval.

FUNDING SOURCES

  Property taxes:
 95.91%
  State revenue sharing:  3.15%
  Reimbursement Downtown Development Authority:
 0.04%
  Reimbursement Louisiana Workforce Commission:  0.12%
  Other revenues:  0.78%
  Total  100.00%

EXPENDITURES:

  Salaries, Taxes and Benefits 55.15%
  Existing Business Retention and Expansion 1.43%
  Professional Development and Training 1.14%
  Business Recruitment 3.22%
  Louisiana Crossroads Initiative 1.91%
   Downtown Development 0.07%
   Marketing and Advertising 1.54%
   Operations  4.13%
   Industrial Property Maintenance  0.64%
   Legal Notices and Audits  0.48%
   Insurance  0.95%
   LA Public Retirement Pension Fund System  4.13%
   Legal & Professional Fees  1.91%
   Government and UL Lafayette Liaison  1.33%
   Contingency  .48%
   Trade Development  .19%
   Market Intelligence
 1.02%
   Technology  1.44%
   Workforce Connections Program  1.69%
   Capital Outlay  1.59%
   Special Projects  14.29%
   Acadiana Economic Development Council  1.27%
   Total                                                                                            
100.00%
 

 


   
  TOTAL BUDGET: $2,922,200

The LEDA web site at www.lafayette.org is an excellent guide to services offered and has links to allied organizations.

 ALLIED ORGANIZATIONS:

            Acadiana Center for the Arts

            Acadiana Economic Development Council (coordinates regionally with
            LEDA)
           
            Downtown Development Authority
   
            Greater SW Louisiana Black Chamber of Commerce

            Lafayette Convention and Visitors Commission

            Le Centre International de Lafayette

            Louisiana Immersive Technologies Enterprise (LITE)

Louisiana Procurement Technical Assistance Center (assists with government procurement  contracts)

Manufacturing Extension Partnership of Louisianan

OneAcadiana

Small Business Development Center

University of Louisiana at Lafayette


GOVERNMENTAL INTERACTIONS:

Assessor

Lafayette Consolidated Government Department of Planning, Zoning, and Codes provides after hours contact in case of planning, inspection, or permitting emergency.

Cooperative Endeavor Agreement (2003) between the Louisiana Department of Economic Development, LEDA, and the University of Louisiana at Lafayette, to develop the Louisiana Immersion Technologies Enterprise (LITE).  In 2009, LEDA turned over ownership and management of LITE to its own board.


Sources

LEDA Legislative Audit, 2008
LITE Legislative Audit, 2009
Lafayette Consolidated Government Budget Guide, 2009
Pamela LaFleur, Vice-President of Administration, LEDA, 2009, 2015
LEDA Approved 2015 Revenues and Expenditures 
Louisiana Revised Statutes: 34:291, 34:292, 33:4720.171, 51.2101
www.lafayette.org

Updated: August, 2015
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