REGIONAL OVERVIEW

ACADIANA AT A GLANCE

South Louisiana’s nine-parish region, known locally as “Acadiana,” is located midway between Houston and New Orleans. The region offers a pro-business climate, loyal labor force, and diverse infrastructure, making the centrally located region a hot spot for business along the Gulf Coast. Known for its vibrant culture, food, and music, Acadiana has worked diligently to preserve its unique culture, which has positioned the region as a destination for tourism, education, and commerce. The region embraces its entrepreneurial, “wildcatter” spirit and is a leader in the production of our nation’s energy. Geographically, the hub of Acadiana, Lafayette, is located at the intersection of Interstate 10 and Interstate 49.

POPULATION

687,000

WORKFORCE

300,000+

POST SECONDARY STUDENTS*

75,000+

*In Area Institutions

Click the links below to learn more about each parish.

PARISH	2018 CENSUS POPULATION ESTIMATES
Acadia	62,190
Evangeline	33,443
Iberia	70,941
Jeff Davis	31,582
Lafayette	242,782
St. Landry	82,764
St. Martin	53,621
St. Mary	49,774
Vermillion	59,830
1A Region Total	686,927

INFRASTRUCTURE

TWO COMMERCIAL AIRPORTS

Lafayette Regional Airport
Acadiana Regional Airport

FOUR RAIL SYSTEMS

TWO CLASS I
BSNF*
Union Pacific

TWO CLASS III
Louisiana and Delta Railroad
Acadiana Railway Company

FIVE COASTAL PORTS

Port of Iberia

Port of Morgan City

Port of Vermilion

Port of West St. Mary

Twin Parish Port

TWO INLAND PORTS

Port of Krotz Springs
Port of Mermentau

OPPORTUNITY ZONE TYPOLOGIES

While each of the 25 designated opportunity zones in the Acadiana region has its own unique character, many of these opportunity zones share common attributes that allow for their grouping in Acadiana’s Typology. These groupings are intended to serve as a general guide for gauging the compatibility of potential opportunity zone projects against the existing environment.

TYPOLOGY HIERARCHY

LEVEL I
Urban/Rural Classification

Urban: Census tracts that are part of a Metropolitan Statistical Area (MSA) with population > 50,000

Rural: Census tracts that are not part of a MSA and part of a population center < 50,000.

LEVEL II
Ratio of Jobs to Residents

Job Centers: Tracts with jobs to residents ratio of > 1.5

Mixed Jobs/Residential: Tracts with jobs to residents ratio of 0.5 – 1.5

Residential: Tracts with jobs to residents ratio of < 0.5

LEVEL III
Anchor Institution & Industry Cluster

Anchor Presence: Hospitals with 300+ beds and/or universities/colleges with 5,000+ students as anchor tracts

Industrial Presence: Tracts with at least 1,000 jobs where 20% of the jobs are classified as construction, manufacturing, or transportation and warehousing

Information and Technology Presence: Tracts with at least 1,000 jobs where 20% of the jobs are classified as Information; Professional, Scientific or Technical Services; or Management of Companies and Enterprises

RURAL EMPLOYMENT CENTER

Rural Employment centers contain a high density of commercial activity, are the location of industrial parks or port facilities, and have a relatively low density of residents.

RURAL MIXED NEIGHBORHOOD

Rural Mixed centers are characterized by a higher density of mixed-use structures and contain a wider array of businesses that are in easy walking distance of residences.

RURAL RESIDENTIAL CENTER

Rural Residential centers are characterized by a high density of single-family residents, a few neighborhood businesses, and generally lower population densities than their urban counterparts.

URBAN EMPLOYMENT CENTER

Urban Employment centers contain the highest concentration of jobs and are characterized by very low residential density.

URBAN MIXED NEIGHBORHOOD

Urban Mixed centers are characterized by a higher density of mixed-use structures and multifamily housing and contain a wider array of businesses that are in easy walking distance of residences.

URBAN RESIDENTIAL CENTER

Urban Residential centers are characterized by a higher density of single-family residents, neighborhood businesses, and generally higher population densities than their rural counterparts.

TYPOLOGY CLASSIFICATION BY CENSUS TRACTS ²

TYPOLOGY	CENSUS TRACTS
Rural Employment Center	403
Rural Mixed Neighborhood	5, 9506, 9614
Rural Residential Center	404^a, 405, 412, 9505, 9601, 9611, 9613, 9616
Urban Employment Center	1^b, 22^c
Urban Mixed Neighborhood	7^a, 8, 10.01^a, 11, 305, 310, 311, 9507
Urban Residential Center	9, 205.1, 309

^aIndustrial Presence; ^bInformation and Technical Presence; ^cAnchor Presence; ²Based on 2015 data collected from the U.S. Census Bureau On the Map Tool, https://onthemap.ces.census.gov/

OPPORTUNITY ZONE DEVELOPMENT RESOURCES

Opportunity Zones are an addition to the array of geographically-targeted state and federal programs and incentives for economic development. Many of these federal tax incentives can be stacked to fund a potential project.

LOW INCOME HOUSING TAX CREDITS (LIHTC)

This program provides tax incentives, written into the Internal Revenue Code, to encourage developers to create affordable housing. These tax credits are provided to each state based on population and are distributed to the state’s designated tax credit allocating agency. Louisiana’s designated tax credit allocating agency is the Louisiana Housing Corporation.

FEDERAL REHABILITATION TAX CREDIT (HISTORIC TAX CREDIT)

The Federal Rehabilitation Tax Credit, otherwise known as the Historic Tax Credit, offers a 20% income tax credit for the rehabilitation and re-use of income-producing, “certified historic structures.” Owner-occupied residential properties do not qualify for the Historic Tax Credit.

LOUISIANA STATE HISTORIC PRESERVATION COMMERCIAL TAX CREDITS

This tax credit is available for up to 20% of eligible costs and expenses towards the rehabilitation of income-producing, “certified historic structures.” This credit is available for those structures that are contributing elements to Downtown Development Districts or certified Cultural Districts.

PHASE I AND PHASE II ENVIRONMENTAL SITE ASSESSMENTS (ESAS)

Phase I Assessments include background research and community outreach to determine the likelihood of contamination present on a parcel of land. Accordingly, once a property is deemed potentially contaminated, a Phase II Assessment is conducted to identify the type and extent of contamination. Phase II ESAs are used to help establish the cost of cleanup of the site and explore redevelopment options.

BROWNFIELDS REDEVELOPMENT RESOURCES

The South Louisiana Brownfields Revolving Loan Fund (RLF) can provide low-interest subordinate loans to pay for the cleanup of environmentally contaminated sites.

LOUISIANA TAX INCREMENT FINANCING (TIF) DISTRICTS

TIF is a mechanism that local governments can use to capture the future tax benefits of real estate improvements in order to pay the present cost of those improvements. TIF can be used to channel funding, or tax increments, toward improvements in distressed or underdeveloped areas. Louisiana law allows the use of TIF as an incentive for funding development and redevelopment projects.

ENTERPRISE ZONE TAX CREDIT

Enterprise Zone provides income and franchise tax credits to a new or existing Louisiana business. In order to qualify, business must create permanent, net new full-time jobs and hire at least 50% of those net new jobs from one of the state’s targeted groups

SMALL BUSINESS DEVELOPMENT AND RESTORE LOUISIANA BUSINESS RECOVERY REVOLVING LOAN FUNDS

South Central Planning and Development Commission (SCPDC) operates a Revolving Loan Fund designed to link small businesses to financing solutions. The RLF is funded through a grant from the U. S. Economic Development Administration (EDA), a division of the U.S. Department of Commerce. The program is designed to fill the gaps in financing not provided by conventional means. By offering a fixed rate substantially lower than available commercial rates, the RLF lowers the blended interest rate for a total loan package. The program is designed to assist expanding and new businesses. The RLF offers lending amounts between $25,000 and $250,000.

CONTACT INVEST ACADIANA

Interested in investing in one of Acadiana’s Opportunity Zones? We can help you find the opportunity that’s right for you.

OPPORTUNITY ZONE RESOURCES

Use the following links to learn more about the Opportunity Zone Program.

LOUISIANA ECONOMIC DEVELOPMENT: OPPORTUNITY ZONE INTERACTIVE MAP

IRS: OPPORTUNITY ZONES FREQUENTLY ASKED QUESTIONS

ECONOMIC INNOVATION GROUP: INFORMATION & RESOURCES FOR OPPORTUNITY ZONES

NATIONAL COUNCIL OF STATE HOUSING AGENCIES (NCSHA): OPPORTUNITY ZONE FUND DIRECTORY

INVEST ACADIANA PARTNERS: