Investments: LED today announced expansions by three biotech firms—AxoSim, Cadex Genomics and Obatala Sciences—that will create 135 new direct jobs at UNO and a biotech incubator called the New Orleans BioInnovation Center. As part of the deal, LED will enter a $3 million Cooperative Endeavor Agreement with Tulane University, LSU and the New Orleans BioInnovation Center to provide greater collaboration, bridge funding and a strategic path for the long-term sustainability of the center. The center will assist LED in efforts to attract, retain and expand biotech companies in Louisiana. Read the full announcement.
Top 10: Site Selection magazine today announced Louisiana ranks among the top 10 states for best business climate for the 10th year in a row. The magazine ranked Louisiana No. 10 in its 2019 analysis of the top locations for business investment and job creation. Georgia, North Carolina and Ohio held the top three spots. Site Selection bases its business climate ranking on both survey and performance measurements. See the list here.
SOLD: The Burger King property on Plank Road, near Hollywood Street, has been sold for $1.1 million. Beverly Hills-based 5353 Plank Road LLC sold the property to Daniel Kwak and Yoon Jung Kim, also of California, as part of a deal that closed Monday.