The Louisiana Economic Development Corporation (LEDC), provides financial assistance to small and medium size Louisiana businesses in conjunction with the private sector such as banks, other financial institutions, the U.S. Small Business Administration, and other governmental financing programs. LEDC invests in risk capital organizations and co-invests with them in emerging higher risk businesses.
The Louisiana Economic Development Corporation (LEDC), has only one program, Financial Assistance. Therefore, the mission and goals of the Louisiana Economic Development Corporation (LEDC) are the same as those listed for the Financial Assistance Program in the program description that follows.
This agency's recommended appropriation does not include any funds for short-term debt.
This agency does not have any long-term debt for Fiscal Year 1999-2000.
This agency's recommended appropriation also includes the following amount by means of financing for payments on the unfunded accrued liability of the Louisiana State Employees' Retirement System in accordance with the provisions of Article X, Section 29 of the Constitution of Louisiana: