Greater Baton Rouge Business Report
A new report from the Baton Rouge Area Chamber looks at how the latest federal COVID-19 relief package, the American Rescue Plan, could benefit the Capital Region.
Andrew Fitzgerald, BRAC senior director of business intelligence, writes the nine-parish region will get nearly $300 million in relief aid, according to Louisiana’s latest projection of how $1.8 billion designated for the state’s local governments will be divided.
If that holds, the Capital Region and its cities will see significant increases in revenue. The $167 million designated for the city-parish of East Baton Rouge is more than 15% of its projected 2021 budget, Fitzgerald writes. More than $27 million is earmarked for Ascension Parish, which represents 14% of its budget this year.
While some of this money will help plug deficits from lower tax revenues due to COVID-related impacts, these dollars, say BRAC, far exceed the lost revenues and increased costs associated with the pandemic. This windfall will give local governments in the Capital Region the opportunity to undertake several projects regarding infrastructure, education, and other areas of need.
See the BRAC report, which includes a breakdown of the funds by entity and allocation.