Federal funding: The USDA is investing $126 million to improve rural electric infrastructure in Louisiana. The funding will go to improve 9,138 miles of electric transmission in St. Helena, Livingston, West Feliciana, East Feliciana, East Baton Rouge, Tangipahoa and Ascension parishes. Baton Rouge-based Dixie Electric Membership Cooperative will receive the $126 million.
Price slash: Louisiana’s only medical marijuana grower currently selling cannabis says it intends to slash the price of its wholesale products for the second time this year. Wellcana Group, the Baton Rouge-based medical marijuana grower licensed by the LSU AgCenter, announced the move Monday. It comes after state lawmakers agreed to allow any doctor to recommend the use of medical marijuana for any debilitating condition, a decision expected to increase the number of patients buying the product. Read the full story.
Surprise jump: Sales of new homes across the U.S. rose a surprisingly strong 16.6% in May with the reopening of major parts of the country, potentially fueling activity in the housing market. The Commerce Department reported this morning that sales of new single-family homes rose to a seasonally adjusted annual rate of 676,000 last month. That was a much better performance than expected. Many economists forecast sales would fall in May. Read the full story.