KEY TAKEAWAYS: Louisiana Economic Development will make $50 million available in the second round of its FastSites program. Applications will be accepted from Oct. 1 through Dec. 1. Projects must be development-ready, include matching funds and demonstrate a path to repayment. FastSites is bac ked by a $200 million state fund designed to prepare properties for business investment and expansion.   Louisiana Economic Development will make $50 million available in a second round of its FastSites program to finance infrastructure and site improvements aimed at preparing properties across the state for business investment. Applications for the second round will open Oct. 1 and close Dec. 1, LED announced. Projects must be development-ready and capable of beginning construction within nine months to compete for funding. Applicants also must provide matching funds and demonstrate a path to repaying the state investment. FastSites is supported by the $200 million Site Investment and Infrastructure Fund established by the Louisiana Legislature to accelerate development of sites that could attract new businesses or support company expansions. The program can fund infrastructure and other improvements intended to make properties ready for development while reducing the time and cost required to prepare sites for prospective employers. “FastSites is changing how Louisiana prepares for economic development by investing before infrastructure becomes a barrier. The first round showed the demand from communities ready to move critical site and infrastructure projects forward, and Round II builds on that progress by helping more communities put the infrastructure in place to compete for future projects,” LED Chief Economic Competitiveness Officer Ileana Ledet said. LED said projects advanced through the program’s first funding round increased development-ready acreage and supported improvements to site access and utilities. FastSites pairs state funding with local or private investment and requires projects to provide a repayment plan. Money repaid through the program can then be used for future site development projects. Economic development organizations, municipalities, redevelopment authorities, political subdivisions and other qualifying entities can apply. Privately owned sites also may qualify under the program’s requirements. LED will hold a webinar for potential applicants at 1 p.m. Sept. 18 to provide information about the program and application process. For more information visit OpportunityLouisiana.com/FastSites. ...read more read less