NOLABA Gets $1.3M Grant for Biotech Labs at The Beach at UNO
NEW ORLEANS – U.S. Secretary of Commerce Gina M. Raimondo announced last week that the Department’s Economic Development Administration is awarding a $1.3M grant to the New Orleans Business Alliance (NOLABA) to support the development of wet lab space and clean room in the Information Technology Center at The Beach at UNO.
This EDA project, to be matched with $370K in local funds, is expected to create 39 jobs, retain 19 jobs, and generate $5.1M in private investment.
“President Biden is committed to ensuring that our communities are provided with the resources they need to diversify and grow their economies,” said Secretary of Commerce Gina M. Raimondo. “This EDA investment in the New Orleans Business Alliance will create laboratory space to support growing biotech companies in the region, attracting new businesses and creating a diverse, resilient regional economy.”