Economic Development Corporation Board of Directors public meetings in 2025
6 substantive meetings from 2025, with official agendas or minutes and plain-English summaries.
Economic Development Corporation Board of Directors
The Louisiana Economic Development Corporation Board will vote on adding TruFund Financial Services as a new lender under the SSBCI Micro Lending Program. The board will also receive updates on existing micro-lending providers, the LEDC Venture Capital Fund, and program performance reports.
- New lender applicant: TruFund Financial Services, Inc. under SSBCI Micro Lending Program
- Provider updates from Carter Credit Union, Essential Credit Union, and NewCorp, Inc.
- LEDC Venture Capital Fund update on Louisiana Fund I, LP
- Micro Lending Program update and SSBCI general update
- Loan Portfolio Guaranty Program (LPGP) update
The Board approved TruFund Financial Services as a lender for the SSBCI Micro Lending Program with a $1 million allocation request. The meeting also included portfolio updates from existing lenders and a financial report for fiscal year 2026.
- Approved TruFund Financial Services as a lender for the Micro Lending Program (one nay)
- Approved minutes of the November 13th meeting
- Accepted Secretary Treasurer's report for fiscal year 2026
- Accepted accountant's bank account status report
Economic Development Corporation Board of Directors
The Board of Directors will discuss the Economic Development Award Program and new applicants for loan and seed capital programs. The meeting includes updates on several investment funds and direct investments in local companies.
- Economic Development Award Program review for ChillCo, Inc.
- Small Business Loan Guaranty Program application from Global Finance CDFI, LLC
- Louisiana Seed Capital Program application from Corridor Ventures Fund
- Direct Investment updates for Hampr, Inc., Pet Krewe, Inc., AxoSim dba 28bio, Inc., and Ingest AI
- Collateral Support Program and Micro Lending Program committee approvals
The Board approved a $250,000 Economic Development Awards Program (EDAP) grant for ChillCo and granted conditional approval for Global Finance CDFI to serve as a lender. Additionally, the Board approved the participation of Corridor Ventures in the Seed Capital Program and authorized $1 million for Idea Village statewide events.
- Approved $250,000 unsponsored EDAP award for ChillCo
- Approved conditional lender status for Global Finance CDFI (one nay)
- Approved participation of Corridor Ventures, LLC in Seed Capital Program
- Approved $1 million to support Idea Village statewide events (one abstention)
- Approved May 9 meeting minutes
- Approved Secretary of Treasurer's FY26 report
- Approved Accountant's Status Report as of October 31, 2025
Economic Development Corporation Board of Directors
The Louisiana Economic Development Corporation board will consider in-house committee approvals for the Collateral Support Program and Micro Lending Program, and receive updates on the Louisiana Seed Capital Program and SSBCI. The board will also review financial statements and investment valuations as of June 30, 2024, and hear reports from the Secretary Treasurer, Accountant, and President.
- Collateral Support Program (CSP) in-house committee approvals
- Micro Lending Program (MLP) in-house committee approvals
- Louisiana Seed Capital Program update
- Financial statements and valuation of LEDC investments as of June 30, 2024
- Newlab and SSBCI general update
Economic Development Corporation Board of Directors
The Board approved $3 million in unallocated funds for the first year of the Newlab New Orleans project. The board also approved the February 13th meeting minutes, the June 30, 2024 financial audit, and the investment valuation report. Staff reported the approval of one collateral support loan and seven micro loans.
- Approved $3M from unallocated funds for Newlab New Orleans (1 abstention)
- Approved February 13th meeting minutes
- Approved June 30, 2024 financial audit report
- Approved investment valuation report by Chaffe & Associates
- Accepted Secretary of Treasury's report as of April 21, 2025
- Accepted accountant's status report
Economic Development Corporation Board of Directors
The Louisiana Economic Development Corporation Board of Directors' Finance Committee will meet to consider financial statements for the fiscal year ending June 30, 2024, and a valuation of LEDC investments as of that date. The meeting includes call to order, roll call, and adjournment.
- Audit of financial statements as of June 30, 2024, presented by Jim Fairchild, CPA
- Valuation of LEDC investments as of June 30, 2024, presented by Marc S. Katsanis
Economic Development Corporation Board of Directors
The Louisiana Economic Development Corporation Board will meet to consider an Economic Development Award Program (EDAP) item for John H. Carter Company, Inc. & ControlWorx, LLC. The board will also receive updates on the 1834 Ventures LSCP RFQ applicant, the Louisiana Equity Capital Program, and the Collateral Support and Micro Lending Programs. Other business includes LA.IO Events statewide strategy and a general SSBCI update.
- EDAP item: John H. Carter Company, Inc. & ControlWorx, LLC (Unsponsored)
- 1834 Ventures LSCP RFQ Applicant update
- Louisiana Equity Capital Program (LSCP) update
- Collateral Support Program (CSP) In House Committee Approvals
- LA.IO Events, Statewide Strategy - The Idea Village
The Board approved an Economic Development Award Program (EDAP) grant for a new center of excellence in Ascension Parish and approved 1834 Ventures for the Seed Capital Program. The Board also approved the treasurer's and accountant's reports.
- Approved $590,000 EDAP award for John H. Carter Company and ControlWorx, LLC
- Approved 1834 Ventures LLC for Seed Capital Program (not to exceed $5M)
- Approved November 14th meeting minutes
- Approved FY25 Treasurer's report
- Approved Accountant Status Report as of December 31, 2024