News Summary
On February 4, 2025, Louisiana Economic Development Secretary Susan Bonnett Bourgeois led a media blitz at the Louisiana NOW Pavilion in New Orleans. The event promoted local businesses and startups, highlighting success stories like Pet Krewe. This initiative is part of the Louisiana Growth Fund strategy to support local startups and foster job growth through innovative funding and collaboration.
New Orleans Hosts Economic Development Media Blitz During Super Bowl LIX
On February 4, 2025, Louisiana Economic Development Secretary Susan Bonnett Bourgeois led a media blitz at the Louisiana NOW Pavilion in New Orleans, aiming to attract attention from media and company executives attending Super Bowl LIX. The event focused on promoting local businesses and innovative startups in Louisiana.
One of the featured success stories was Pet Krewe, a pet food and costume company founded by Allison Ward. The business emerged during the COVID pandemic after Ward recognized a gap in the market for premium pet food. What started as a side project to create affordable canned food for cats and dogs has since expanded, resulting in Pet Krewe becoming the second-largest cat food brand at Walmart.
Louisiana Growth Fund: Supporting Local Startups
Pet Krewe was one of the first businesses to receive funding from the Louisiana Growth Fund, a venture capital initiative designed to invest in local startups with federal funding. This support played a crucial role in the company’s expansion, with the Growth Fund providing a total of $3.3 million across several companies.
Bourgeois moderated a roundtable discussion featuring multiple businesses that benefited from the Louisiana Growth Fund, which includes notable firms such as Codegig, 28bio, and hampr. The Louisiana Growth Fund is backed by a total commitment of $6 million for Louisiana startups, with an additional expected $4 million by the year’s end. This initiative is part of an overall strategy by Louisiana Innovation to foster local technology businesses.
Collaboration and Job Growth
The fund operates with an initial $50 million in federal funding, complemented by another $50 million from Louisiana Economic Development partners. It currently supports twenty companies and emphasizes collaboration among its recipients to help businesses scale. For instance, hampr has leveraged state digital media tax credits to manage software costs, while its founder relocated to Lafayette for better local support and resources.
28bio, a neurotechnology company developed at Tulane University, markets its products nationally and credits the Louisiana Growth Fund for supporting research and development efforts within the state as it expands internationally. Meanwhile, Codegig, founded by Kellen Francois, aims to nurture talent from local universities, thus fostering future entrepreneurs within Louisiana.
Positive Reception and Future Plans
Since the beginning of the fiscal year, Louisiana’s Economic Development initiative has engaged with over 200 businesses, striving to connect with 800 throughout the year. The program has received positive feedback from local companies, appreciating the support and engagement from the Economic Development department.
Bourgeois mentioned ongoing efforts to eliminate barriers that hinder business entry into the market. The state’s High Impact Jobs Program also supports businesses that create jobs paying above average parish wages, thereby promoting economic growth.
The Louisiana Growth Fund and its associated initiatives highlight a proactive strategy to enhance local business development and create a network of support for new ventures in Louisiana, ensuring the state continues to thrive as a hub of innovation and job creation.
Deeper Dive: News & Info About This Topic
- Shreveport-Bossier Advocate: Susan Bourgeois Comes to Shreveport with New Business Tour
- Business Report: Louisiana Named a Top 10 Economic Growth Leader
- The Advocate: Founders Talk at LED Roundtable
- Wikipedia: Economic Growth
- KNOE: LED Secretary Begins Statewide Tour in Monroe
- Business Report: Meet the First Four Startups to Tap into the Louisiana Growth Fund
Author: STAFF HERE NEWORLEANS WRITER
NEW ORLEANS STAFF WRITER The NEW ORLEANS STAFF WRITER represents the experienced team at HERENewOrleans.com, your go-to source for actionable local news and information in New Orleans, Orleans Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as French Quarter Festival, New Orleans Jazz & Heritage Festival, and Essence Music Festival. Our coverage extends to key organizations like the New Orleans Chamber of Commerce and Greater New Orleans, Inc., plus leading businesses in energy, healthcare, and education that power the local economy such as Entergy, Ochsner Health, and Tulane University. As part of the broader HERE network, including HEREShreveport.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
