Louisiana House Bill HR64

Louisiana 2022 Regular Session

• Introduced: 4/18/22
• Passed: 4/19/22

Caption

Commends the Edward Lowe Foundation for its contributions to the state

Impact

The resolution highlights the collaborative efforts between the Edward Lowe Foundation and the Louisiana Department of Economic Development. Since 2011, these efforts have successfully assisted over 350 businesses, resulting in substantial financial gains and job creation. The initiatives have increased annual sales by nearly $700 million and created over 3,000 new jobs. The foundation's work is underscored by its instrumental role in developing the Growth Network, which supports growth-oriented small businesses and has received recognition for its contributions to entrepreneurship in the state.

Summary

House Resolution 64, sponsored by Representative Schexnayder, is a commendation for the Edward Lowe Foundation and recognizes its significant contributions to the state of Louisiana. The foundation, established in 1985, focuses on utilizing entrepreneurship as a catalyst for economic growth and community development. It operates differently from typical foundations by funding its own initiatives aimed primarily at second-stage companies, which are critical for the state's economy as they transition from startups to more mature entities.

Sentiment

The sentiment surrounding HR64 appears overwhelmingly positive. The resolution is framed as a recognition of the foundation's vital role in promoting entrepreneurship and supporting small businesses. The commendation reflects a bipartisan recognition of the importance of such organizations in driving economic growth and community development within Louisiana. The acknowledgment of the foundation's achievements aligns with broader state goals of fostering a thriving business environment.

Contention

While the resolution serves as a commendation without significant opposition, it does implicitly raise issues regarding the need for continued support and resources for small businesses and entrepreneurs in Louisiana. The success attributed to the Edward Lowe Foundation underscores the importance of such organizations in achieving economic prosperity. However, ongoing discussion may revolve around how best to maintain and expand such support, especially in the face of changing economic conditions and challenges faced by small businesses.