Innovation Park, the technology and business development wing of LSU, is set to undergo a major expansion thanks to a $200,000 contribution from Research Park Corporation.
The expansion will increase accessibility to Innovation Park and its 44 current businesses through new roadways, and seeks to develop an additional 150 acres in the area.
According to a statement from LSU, the expansion will allow Innovation Park to more than double in size, accommodating an additional 75 businesses and creating 2,100 new jobs.
“We’re pleased to have Research Park Corporation’s support for the expansion of LSU Innovation Park,” said Charlie D’Agostino, LSU Innovation Park’s Executive Director. “This shows a great partnership between two leading entrepreneurship organizations supporting the innovation infrastructure in Baton Rouge.”
The U.S. Department of Commerce and Louisiana Economic Development have also contributed to the expansion, bringing total investment in the project to more than $1.6 million.
“The foresight and investment from the U.S. Department of Commerce’s Economic Development Administration, Louisiana Economic Development and Research Park Corporation in the region’s entrepreneurial infrastructure will give rise to new ideas, innovators and companies. Today’s investment will lead to tomorrow’s gain in multiple ways,” said D’Agostino.
RPC’s contribution to this expansion hopes to aid Innovation Park in its mission to promote the development of high-technology industry and research in the State of Louisiana. “We’re proud to be able to assist LSU in its efforts to expand the Innovation Park campus and we look forward to the increased opportunities this expansion will bring to our region,” said Edmund Giering, Chairman of Research Park Corporation’s Board of Directors.
The expansion project will break ground in early 2019.