Posted: Dec 28, 2012 11:03 AM by Elizabeth Hill
Updated: Dec 28, 2012 11:04 AM
Iberia Parish is hoping to attract businesses and promote economic growth with a new business park. It's called Progress Point and is a project of the Iberia Industrial Development Foundation.
President and CEO of the foundation, Mike Tarantino, says the project is still in the early planning stages and the land is in the process of being acquired.
It will be located on a 50 acre tract of land off U.S. 90 on LA 675, also known as Jefferson Island Road.
Tarantino says this initial phase of acquiring the land and developing the property is being funded by about $1 million in state money. The project will further be funded through various parish, state and federal grants.
Once the park is completed, Tarantino says it will be home to many different types of businesses.
He says he hopes to see retail, offices and headquarters, logistics and shipping warehouses, and research and development to support the area's oil and gas industry.
Tarantino says the response from business leaders and community members has been overwhelmingly positive.
He says many businesses have already shown interest in being part of the development.
Tarantino sees this as a great opportunity for businesses in the area that may not have a niche elsewhere.
Construction on the park could begin this summer.