Gregg Gothreaux, President and CEO of Lafayette Economic Development Authority, joined host, Jan Swift, to discuss the economic impacts of the COVID-19 shutdown. LEDA is a full-service, tax-funded government entity dedicated to helping the business community of Lafayette Parish.

This pandemic crisis has affected not only our nation's physical health but its economic health. Gothreaux stressed that it has also brought to the forefront issues that we need to address as our country moves forward to ensure future prosperity and provide the wherewithal to withstand the inevitable, yet unforeseeable challenges which may once again shake our economy.

LEDA's program of work involves long term economic development strategy, and the focus is on attracting new business to our community while sustaining business conditions for existing enterprises, both large and small, who are the backbone of our economy. The talented staff works to help businesses grow, find the right employees, find tax incentives, and tax breaks that exist and should be utilized.

Lafayette's forefathers did much to diversity our local economy and Gothreaux gives them much credit in forging the path for our area's creative business entrepreneurs.

In LEDA's early days in the 1970s (when it was known as the "Lafayette Harbor, Terminal and Industrial Development District"), one of its first actions was to create a business park in Broussard known as "Southpark Industrial Park." This organized investment of business space provided Lafayette Parish with the ability to compete effectively with other regions of the country and be able to offer a desirable and business-ready locale for businesses from around the country to locate in Acadiana.

Gothreaux recounted that one of the first businesses locating in SouthPark was International Paper which made corrugated boxes; the company is still there today in 2020 but operating under a different name. Countless other thriving businesses are operating in LEDA's Industrial Parks throughout the parish and include BlueBell, AT&T, Cintas, Home Furniture Distribution, and many, many others. For an overview of all of Lafayette Parish's business parks, visit LEDA's website here.

Today's office buildings are our "industrial parks," according to Gothreaux. LEDA and its protege, the Opportunity Machine, work to fill office buildings and warehouses across our community by helping businesses thrive. There is no more need to build industrial parks as the current push is to fill existing office space. An example shared was the repurposing of the former Mid-South Bank Building on Versailles Blvd. near downtown by CGI. As the economy diversifies and continues to attract IT and medical-related companies, existing office space can readily accommodate needs and supply sufficient space for new companies.

SchoolMint is Lafayette's most recent success story, illustrating our region's ability to attract software firms from the West Coast who are looking for a more appropriate place to locate headquarters. Offering 178 new positions at an average salary of $75,000, SchoolMint is relocating to Lafayette from San Francisco. One of the key players in this story was Casey Bienvenu, a Carencro and UL-Lafayette grad, who is the company's chief software architect and the force who developed the original software utilized by SchoolMint. The company is taking the country by storm with its unique way of pairing students and educational institutions with strategic enrollment platforms.

This move by SchoolMint is unusual on its face, as most companies moving out of California tend to relocate to other Western U. S. states; in this case, existing relationships with Lafayette Parish natives paved the way for a highly successful and growing firm t...