February 2009

Forward Jefferson Corporation

THE PROJECT

In February 2009, AMCREF Community Capital (AMCREF), provided $4 million of NMTC financing to Forward Jefferson Corporation (FORJ), a Louisiana non-profit operated by the Jefferson Parish Economic Development Commission (JEDCO), to develop and build a technology and green business incubator. The facility is located in a GO Zone highly distressed LIC that was severely damaged by Hurricane Katrina.

The first phase of the facility sits on 4.6 acres of land and is the first project in, and anchor of, what will eventually be a 500-acre, $445 million corporate business park designed as mixed-use, flexible office space targeting the technology, distribution, light manufacturing and service industries. Construction on the Phase I, 13,180 square foot facility, was completed in May 2011. The building incorporated numerous state-of-the-art green building attributes and almost received LEED certification. Phase I directly led to additional businesses being located in the business park, including a community college and a Science & Technology Academy.

COMMUNITY IMPACT

  • Job Creation: Phase I creates up to 75 direct FTEs and 31 construction jobs. As it continues to expand, the broader business park has the potential to generate thousands of FTEs and hundreds of construction jobs within the LIC.
  • Technology Incubator Services: The FORJ facility provides numerous services for startup and entrepreneurial companies including loan programs, office space, administrative services and business counseling.
  • Economic Impact: The FORJ project serves as the anchor and catalyst for a much larger $445 million business park development on over 500 acres.
  • Green Building: Because the Phase I facility incorporates state-of-the-art green building attributes, it serves as a model for future construction projects in the area looking to incorporate these elements.