The Metro Council recently approved an agreement to hire a firm for economic development consulting services in Baton Rouge.
Jay Gaudet’s real estate investment management firm, GoDay Co., operating as EM & Associates, was selected for the role. The contract, approved at last week’s council meeting, spans one year with a total value of $80,000 and includes an option for renewal through mutual written agreement.
Gaudet presented the scope of services and outlined focus areas based on 2024 budget goals. These include:
- Expanding opportunities for small businesses
- Enhancing small business enterprise programs
- Improving access to capital for disadvantaged businesses
- Developing a small business certification program
- Promoting job creation and economic development initiatives
- Supporting small business recovery post-COVID-19
- Auditing and maximizing the use of city-owned properties
- Creating a comprehensive investment policy
- Integrating affordable housing with arts and culture
- Retaining young professionals
Gaudet noted that discussions with the mayor’s office began about a year ago after the creation of St. George. He mentioned that the city of Baton Rouge is projected to lose approximately $480 million in tax revenue over 10 years due to the new city. The economic development plan will be a collaborative effort involving various local economic development entities.
City-parish Chief Administrative Officer Dante Bidwell indicated that while the scope of services might expand in the future, the initial aim is to establish a strong proof of concept.
“Jay and I sat down with the mayor a few months ago and we talked through kind of an entire menu of things, and then considering what we’re walking into with the 2025 budget, we wanted to make sure that we were being as strategic as possible with how we’re allocating dollars, especially contract dollars, going into 2025.”
Gaudet’s LinkedIn profile lists him as a real estate investment manager at GoDay Co., where he has worked for 10 years. He is also a managing partner at the financial advisory firm Aplomb Global.
