Millions in Go Zone Funding Should be Available in 2010

       More than a billion dollars of Gulf Opportunity Zone (GO Zone) Bonds allocation is expected to be released in 2010, and the St. Tammany Economic Development Foundation (STEDF) is available to assist companies in accessing those funds.

       The federal GO Zone designation was initiated after Hurricane Katrina to provide much-needed funding to businesses in need of capital for expansion, retention or relocation in hurricane-impacted parishes. STEDF’s sister organization, The St. Tammany Parish Development District, is authorized to issue the bonds.

“We want to do all we can to assist both new and existing businesses access this valuable financing tool,” said Peter Link, President of the Development District.

“GO Zone bonds have been a tremendous boon to businesses throughout Louisiana for nearly four years,” said Brenda Reine Bertus, executive director of the STEDF. “We should continue to take advantage of this opportunity for tax-free bonds to enhance the business climate in St. Tammany Parish.” To date, the District has issued GO Zone bonds for eight projects totaling $107,430,000, which will lead to the creation of hundreds of new jobs.

       For more information about the GO Zone bond program or to seek assistance in accessing the funding, contact STEDF at 985.809.7874 or email stedfinfo@stedf.org.

       STEDF is the management arm for the St. Tammany Parish Development District, a political subdivision of the state of Louisiana which was created in 1992 by Louisiana Revised Statute. The District, whose boundaries are the same as St. Tammany Parish, has the power to tax, incur debt and issue revenue and general obligation bonds. For more information visit www.stedf.org.

Media contact: James Hartman, james@jameshartman.net or 504.458.4600.

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