BRAC’S QUARTERLY REPORT ON THE CREATIVE CAPITAL AGENDA
FIRST QUARTER 2011
THE
MAKING MUSIC The new Regional Innovation Organization works to build an entrepreneurial community that produces a sweet sound
Runaway Victory Baton Rouge area ranked number one in the U.S. for new and expanded corporate facilities
Establishing a Southern University Renaissance BRAC offers recommendations aimed to improve student achievement and recognition
And More… Q1 Progress, Project Wins
Inside what’s
First Quarter 2011
02
14
Our Economy: Update & Outlook
Cover Story: Making the Music
The latest trends in the Capital Region economy
The new Regional Innovation Organization works to build an entrepreneurial community that produces a sweet sound
04
Our Progress: Measuring Our Success
A report on BRAC’s activities in Q1 2011
09 Establishing a Southern University Renaissance
20
There’s a New Entrepreneurial Accelerator in Town The importance of RIO, from an experienced entrepreneur
BRAC ofers rcommendations aimed to improve student achievement and recognition
21
12
Leading organizations funding The Creative Capital Agenda
Runaway Victory
Economic Development Investors
Baton Rouge area ranked number one in the U.S. for new and expanded corporate facilities Read the stories online or send them to a friend through our QR code.
cat·a·lyst (kat’l ist) n. (1) Something that initiates or causes an important event to happen. (2) A person or thing that precipitates an event or change. (3) See also energy, momentum, trailblazer, Baton Rouge Area Chamber.
W
elcome to the inaugural quarterly report on The Creative Capital Agenda. For the next ive years, BRAC’s actions will be guided by
our new strategic plan, which is designed to position the region as one of the leading growth economies of the South. Since early 2010, we’ve been Rouge area to compete with other major markets throughout the U.S. As part of The Creative Capital Agenda, BRAC is building on our well-honed strategies and practices of the last ive years. In this issue, you’ll read about all six core competencies of our organization: •
Job creation
• Global
branding
•
International development
• Talent
development
•
Entrepreneurship and innovation
• Regional
competitiveness
It’s also worthwhile to relect for a moment on the purpose of our quarterly magazine. One of the things that was communicated to us last year was that a hallmark of BRAC has been our transparency and accountability. Catalyst goes a long way in ensuring that transparency. It is our quarterly earnings call, our means of telling you, the investor, how your investment has performed. In each issue we will review actions taken under each of our six areas of work, review the key indicators of the regional economy, and feature special analysis on important economic trends. Over the course of this year we will be launching several new programs. In the irst quarter of 2011 we started by initiating our global branding initiative, the Creative Capital of the South®. At the launch party for the brand, we unveiled the website, replete with a superb video and content about the case for the Creative Capital. Please visit www.creativecapitalofthesouth.com for more exciting details. The issue’s cover story outlines our new strategy for entrepreneurship and innovation, called the Regional Innovation Organization (RIO). Launched in February, this program will accelerate promising business ventures and cultivate an “ecosystem” for innovative startups. Like BRAC’s business retention and attraction eforts, RIO will be measured on outcomes such as job creation. We are of to an exciting start to our new ive-year efort. We appreciate all of you, our many investors and stakeholders, who have supported us as we lead the eforts to fuel our regional economic development. Enjoy the issue,
Adam Knapp, President and CEO, Baton Rouge Area Chamber
From the desk of Adam Knapp
crafting an economic development strategy that will enable the Baton
THE ECONOMY
Update & Outlook On the Baton Rouge Area Economy In the irst quarter of 2011, the economy in the Capital Region was showing mixed economic indicators. Jobs were down from irst quarter 2010, but unemployment remains lower than the national average. In home sales, sales prices and units sold has decreased. Regional spending, however, has increased since November 2009. The stock prices of companies with local headquarters also shows mixed status at the end of the quarter.
Baton Rouge Area Employment and Unemployment (Thousands)* 380 80 370
70
360
60
350
50 40
340
10-11 Employment Nonfarm Payrolls
09-10 Employment Nonfarm Payrolls
10-11 Unemployment Job Seekers
09-10 Unemployment Job Seekers
30 330 20 320 10 310
0
300 APR
mAy
JUn
JUL
AUg 2010
2
SEP
OCT
nOv
dEC
JAn
FEB 2011
mAR*
* March employment and unemployment igures are preliminary estimates; all employment estimates relect current revisions Source: Louisiana Workforce Commission; BRAC analysis
Economic Vital Signs Indicator
Strong
Outlook
Latest Statistics
Trend
Nonfarm payrolls, Mar 11 (p)
Jobs
362,200
Unemployed, Mar 11 (p)
Unemployment Insurance Claims
Initial claims per week*
Residential Building Permits
Single-family, Q1 11
30,657
680
Weeks claimed per week*
8,303
543
Multi-family, Q1 11
25
Average home price*
Home Sales
$185,680
Units sold, Q1 11
449
Sales & use taxes, Nov 10
Regional Spending
Decline
Stable or Mixed
$54.7 MM
Total sales, Nov 10
$1.15 B
• Jobs down 2,500 over Mar 10 • Unemployment in Mar at 8.2%; below U.S. average of 9.2%
• Initial claims up 1% from Q1 10 • Weeks claimed down 17% from Q1 10
• Total permits have decreased by 16% compared to Q1 10 • Single-family permits have decreased 19% compared to Q1 10
• Sales prices have decreased 3% from Q1 10 • Units sold have decreased 5% from Q1 10
• Sales tax collections as a region have increased 4% over Nov 09
Price change over Q1 11:
Local HQ Stock Performance
ALB: AMED: LAMR:
Energy Costs
7% 4% (7)%
SHAW: HEES: CRWS:
3% 69% (6)%
WTI crude oil spot*
$94.48/barrel
Henry Hub natural gas*
$3.98/MMBtu
• Stock prices are mixed across the board
• Crude oil spots up $8.35/barrel from Q4; up $18.45 from Q1 10 levels • Gas price up $0.20 from Q4, price is down $0.17/MMBtu from Q4 10 levels
Source(s): Louisiana Workforce Commission; U.S. Census Bureau (New Residential Construction); Greater Baton Rouge Association of REALTORS®; Local sales tax oices; Yahoo! Finance; LSU Center for Energy Studies; BRAC analysis
*Q1 11 average
Baton Rouge Area Regional Spending ($ Millions)* 1,600 1,400 East Feliciana, Pointe Coupee, St. Helena, West Feliciana, and West Baton Rouge Parishes
1,200
Iberville Parish
Ascension Parish
Livingston Parish
East Baton Rouge Parish
1,000 800 600
* Sales were estimated from sales and use tax collections and rates of each taxing jurisdiction within each parish
400 200
Source: Local tax oices; BRAC analysis
0 mAR
APR
mAy
JUn
JUL
AUg 2010
SEP
OCT
nOv
dEC
JAn
FEB
2011
Q1 2011
3
OUR PROGRESS
MEASURING
1
S a
egy 1: Job Creation
Goal: Retain and attract high-growth companies to positively inluence quality of life A number of project wins are targeted to come to fruition in the irst half of the year. Based on the Class A and Class B project pipeline (those with the highest likelihood to reach completion), the Capital Region has the legitimate possibility of securing twenty-eight business retention, expansion, and recruitment projects that would result in 2,319 jobs. BRAC conducted forty-one on-site executive interviews during the quarter, including seven follow-up sessions involving tangible assistance. The target for 2011 is 130 visits to economic-driver irms.
2
Strategy 2: International Development Goal: Bring high-wage jobs associated with international business to the area to build a global reputation In the irst quarter, we kicked of our international development program by distributing a request for proposals to a number of consulting irms. The project consists of identifying international target markets and target industry sectors in those markets. A irm will be selected in June, and the study will be completed by the beginning of September. Adam Knapp, BRAC’s President and CEO, recently presented during the international business seminar at Louisiana State University (LSU). The past three months also saw us meet with the British ambassador in New Orleans to begin conversations about increasing the level of business between our region and the country. Finally, we began discussing a potential partnership with the Capital Region, and the New Orleans, Lafayette, and Lake Charles regional economic development organizations (EDOs) to market Southern Louisiana internationally.
4
Q1 2011
OUR The Creative Capital Agenda is comprised of six strategies that work together to drive economic development in the Baton Rouge area. Each issue of Catalyst features an update on our progress on each of these six strategies as well as a preview of upcoming goals and activities.
Summary of Business Development Prospect Activity Project Count
Job Count (Estimates)
Current quarter
Change from prior quarter
Current quarter
Change from prior quarter
2011 Project Wins (yTd)
2
+2
80
+80
Prospects: Class A
8
+3
608
+415
Prospects: Class B
20
-1
1,711
-657
Prospects: Class C
31
-11
3,613
-2,780
Prospects: Total
59
-9
5,932
-2,986
PROSPECTS: CLASS A Prospect is actively engaged in dialogue with BRAC or the Capital Region and has been speciically identiied/selected to present sites through LED.
PROSPECTS: CLASS B Company/consultant has requested information on multiple states/regions; company identity is frequently unknown.
PROSPECTS: CLASS C Company has not requested any information: lead based on tip/research; may represent a potential opportunity.
Q1 2011
5
J CTT E
J CT W I N S
P
E
J CT W I N S
P
E
J CT W I N S
P
Project Wins +
+
+
+
+
+
+
+
+
+
+
Cinatra Clean Technologies, Inc., a Houston, Texas-based company, has opened an oice in St. gabriel. Cinatra is the exclusive licensed provider of BLABO process in the United States. BLABO is a non-manned, closed loop cleaning system ofered to owners of larger diameter crude tanks in reining, pipeline, and terminal sectors of the oil and gas industry. This new location will create an estimated forty jobs. “We are excited about our upcoming expansion into the Baton Rouge area. The information and assistance provided by BRAC was a useful tool in our search. We look forward to working with them further, along with the many other great organizations and stakeholders in the region.� Michael T. Kenney, Chief Operating Oicer, Cinatra Clean Technologies, Inc.
Project Commodity P
40 Jobs, $16.5 MM Capital Investment
J CT W I N S
+
40 Jobs, $1 MM Capital Investment
E
+
a Clean Technologies, Inc.
+
6
+
C t
E
+
+
+
+
+
+
+
+
+
+
+
+
A West Baton Rouge Parish industrial company will add an additional forty jobs. The company expansion will result in $16.5 mm in capital investment. The company wishes to remain anonymous at this time.
+
+
+
WIN
OUR PROGRESS
3
egy
3: Entrepreneurship and Innovation
Goal: Support the development of new entrepreneurial irms and regional capacity for innovation The irst quarter yielded what is probably the most critical aspect of our goal of entrepreneurship and innovation strategy – the creation of a regional innovation organization (RIO) (see cover story on page 14). RIO is tasked with fostering a culture that embraces innovation. Its goal is to become the region’s “one-stop-shop” for seasoned and budding entrepreneurs while providing strategic direction and connections so desperately needed in the Baton Rouge area. The irst signiicant RIO development came in January with the hiring of Terry Jones as the organization’s executive director.
4
In February, BRAC oicially launched the
Strategy 4: Global Branding Goal: Increase awareness of the Baton Rouge area as a destination location for high-growth companies and talented people In February, BRAC oicially launched the regional brand, Creative Capital of the South. The launch marked the end of a two-year planning process that was dedicated to garnering multi-parish support for the brand. With over sixty-ive organizations and municipalities agreeing to participate, this is a collaborative efort that will pay large-scale dividends for the Baton Rouge area as we market it to companies and talented individuals.
regional brand, Creative Capital of the South. The launch marked the end of a twoyear planning process that was dedicated to garnering multi-parish
5
Strategy 5: Talent Development
support for the brand.
Goal: Attract, develop, and retain human capital to meet the needs of business The talent development program will be launched in the third quarter. The irst order of business will include the hiring of a director to oversee the program. This will be followed by reining the speciic strategy aspects and implementing that strategy.
Q1 2011
7
OUR PROGRESS
6
egy
6: Regional Competitiveness
Goal: Target key public policy issues that impact the Baton Rouge area’s ability to remain competitive in the global marketplace
In January, we released a strategic analysis of Southern University’s ability to increase its competitiveness including the steps needed to be compared favorably with peer historically black colleges and universities (HBCUs) (see story on page 9). The recommended strategies include: implementing a phased-in process that achieves stricter academic standards; developing dual- and cross-enrollment programs with community colleges; and targeting federal departments and agencies that fund research and encourage the state’s congressional delegation to support Southern’s interests among others. At the unveiling of FUTUREBR, the East Baton Rouge Parish (EBR) comprehensive plan, EBR and City of Baton Rouge Mayor-President Kip Holden announced that he was forming the Blue Ribbon Commission on Transit and charged BRAC and Together Baton Rouge, a broad-based coalition of institutions working to improve the greater Baton Rouge area, with convening the commission to identify potential options to address the parish’s public transit challenges. Inevitably, it was determined that the BRC would consist of seventeen community members identiied through a comprehensive process designed to secure a diverse representative body. The recommendations are expected to be presented to the mayor-president by June 2011.
In 2010, FuturePAC, BRAC’s political action committee, supported ive candidates who were eventually elected to the EBR School Board. One of the main aspects needed to gain FuturePAC’s endorsement was the support of developing an updated strategic plan for the school system and community. The planning process began with the selection of an educational consultancy, American Productivity and Quality Center (APQC) of Houston, Texas, to facilitate the work. APQC’s irst task was to create a timeline and process for the plan’s development and to gather community input through focus groups and an online questionnaire. One of the highest-proile eforts that took place in the Capital Region this quarter has been the Louisiana Legislature’s special session on redistricting. In order to ensure that the Baton Rouge area’s interests were considered during this process, BRAC distributed a letter to the chairmen of both the senate and governmental afairs and house and governmental afairs committees, as well as their respective committee members, that requested that the nine-parish Capital Region be limited to two representative congressional districts, including one that is designed to be elected by a strong majority of the region’s population. The letter was signed by BRAC’s Chairman of the Board of Directors, Scott Wester, and Adam Knapp. We will continue to monitor the situation and advocate on behalf of the region when necessary.
BRAC’s Economic Development Partners Ascension Economic Development Corporation
Greater Pointe Coupee Chamber of Commerce
Oice of the MayorPresident, City of Baton Rouge/Parish of East Baton Rouge
St. Helena Parish Economic Development Committee
East Feliciana Economic Development District Iberville Chamber of Commerce Livingston Economic Development Council
8
West Baton Rouge Chamber of Commerce West Feliciana Community Development Foundation
Q1 2011
9
10
Q1 2011
11
Contest spectators love to use the mantra of hoping that it will be a close game. Deep inside, however, if you have a rooting interest in one team or another, you don’t want it to be close. You want the proverbial blowout. The Baton Rouge area recently experienced such a decisive victory as Site Selection magazine honored the Capital Region as the number one metropolitan area (population between 200,000 and 1 million) for new and expanded corporate facilities in 2010. The magazine uses its “New Plant Database” to track business development projects with a significant impact. Based on the database’s criteria, the area finished the year with seventy-eight qualifying projects. The region finished third in last year’s ranking. The seventy-eight projects attributed to the region were almost three times more than the closest competitor region. Plus, the number of projects would have placed the region in the top ten for all categories no matter the population size. Some of the more notable Baton Rouge area projects that
met Site Selection’s criteria included: the East Baton Rouge Parish expansions of the Georgia-Pacific facility and CORE, LLC, and the location of Point Bio Energy in West Baton Rouge Parish. The Site Selection database tracks new facilities and expansions on the basis of three factors: (a.) involves a capital investment of at least $1 million; (b.) creates at least fifty new jobs; or (c.) adds at least 20,000 square feet of new floor space. It does not track retail and government projects, schools, or hospitals. The top ten list of metropolitan statistical area populations between 200,000 and 1 million and their total number of qualifying projects includes: Baton Rouge (78), Dayton, OH (29), Spartanburg, SC (29), Shreveport-Bossier City, LA (26), Houma-Bayou Cane-
NUMBER
METROPOLITAN AREA FOR AREA FOR
NEW AND EXPANDED
CORPORATE FACILITIES
THE BATON ROUGE AREA HAS ADDED NEARLY
100,000 NEW RESIDENTS
THE REGION IS NOW JOINING THE
BIG LEAGUES
FEATURE STORY
THE
MAKING MUSIC The new Regional Innovation Organization works to build an entrepreneurial community that produces a sweet sound
M
usicians sitting in a room playing their own tune usually don’t make for a good sound. It takes a person or a group of people to help coordinate the sounds in a way that produces beautiful music. The Baton Rouge area’s
entrepreneurial community is, in some ways, very similar. While all of the diferent aspects can perform independently well, their ability to deliver the highest-quality services is dependent on their ability to perform together.
14
Come together right now over me – The Beatles, “Come Together” Ensuring that everyone is working together was identiied as an important feature of BRAC’s work in 2009 and 2010 with the completion of the regional innovation strategy (see the Q1 2010 issue of Catalyst at www.brac.org/catalyst for the full story). The issue brief is designed to provide a strategy for creating a culture that deeply fosters and supports entrepreneurship throughout the Capital Region. Through this work, two main elements were determined: there is a great need to create a true university research park and the region would beneit from the development of a regional innovation organization. The strategy results recommended that the Regional Innovation Organization (RIO) be the entity responsible for all entrepreneurship and business acceleration services in the Baton Rouge area. It will coordinate the region’s assets including business support services and incubators such as the Louisiana Business and Technology Center, the Louisiana Emerging Technology Center, the Louisiana Technology Park, and others, while acting as the central point of access for entrepreneurs and creating layers of service. In other words, RIO will be combining all of the individual talents into one hit-producing song.
The strategy results recommended that the Regional Innovation Organization be the entity responsible for all entrepreneurship
I’m on a mission, ya better just listen – Rob Bass & DJ E-Z Rock, “It Takes Two” The mission of RIO is a straightforward one – assist in the development of a much more robust entrepreneurial culture for the Baton Rouge area. Like most things, that’s easier said than done. Entrepreneurship has multiple tiers. The most commonly thought of is the person who has a business idea, but there are also inventors, university researchers, service providers, capital providers, and many, many more. By staying true to its mission, RIO will be able to ensure that all of those entities are successful.
and business acceleration services in the Baton Rouge area.
Q1 2011 15
FEATURE STORY The complexity of this mission dictates that this will not be an overnight success story. A multi-year commitment is required to guarantee that the end result is a real cultural shift, and not simply a one-hit wonder. First, BRAC agreed to oversee the new venture. While RIO is a completely separate organization and the staff will provide a quarterly report to a Research Park Corporation (RPC) advisory board, BRAC maintains day-to-day operational management duties. The BRAC duties include the hiring of an executive director, fundraising, and developing both a long- and short-term strategic direction. Next, the RPC committed to providing $250,000 per year for the next five years, allowing RIO to have a stable level of resources for the near future. Additional funds will be raised from sources other than the RPC to strengthen the innovation organization’s ability to expand their efforts.
To the leader of the band – Dan Fogelberg, “Leader of the Band” In alignment with RIO’s creation, the regional innovation strategy recommended that it be led by an executive director, who will be responsible for ensuring all aspects of the organization are focused on providing highgrowth entrepreneurial firms the information and access they need to be successful. This will include serving as an advisor to existing incubator partners who serve the regional entrepreneurial network; developing a strategy to better align existing business development services and a plan to fill existing service gaps; assisting Louisiana State University (LSU) in the development of the university research park; developing formal mentoring programs to
16
advise early-stage, high-potential firms; creating a solid network of angel, seed, and early-stage capital providers; building a funding strategy for securing dollars to enhance programmatic offerings; leveraging the region’s universities and colleges to support entrepreneurial development; and coordinating the reliable tracking and recording of metrics on entrepreneurial service offerings from partner incubators and their impact on the regional economy. After a national search, BRAC presented Terry D. Jones to the RPC Executive Committee as its nominee for the executive director position, which the committee quickly approved. Terry founded Dean Capital in 1998 to provide investment banking services and advice, as well as debt and equity capital, for businesses in various stages. The firm served a variety of industries, including information technology, healthcare, life sciences, manufacturing, and service. Prior to Dean Capital, he was a vice president and director of underwriting for Source Capital. He has also worked in the banking industry and currently serves as a board member of the entrepreneurial organization SeNSE, of which he is a founder.
Hop on the bus, Gus – Paul Simon, “50 Ways to Leave Your Lover” Terry wasted no time jumping into his new role. In early March, RIO announced that it secured five spaces on the Miami StartupBus. The StartupBus is an entrepreneurial adventure that places twenty-five strangers traveling together on a bus over forty-eight hours from different destinations to Austin, Texas for the annual South by Southwest® festival. Participants form teams and build
“The commitment of BRAC, the RPC, the incubators, and the entire entrepreneur community shows that there is the proper support for success.”
business plans based on ideas presented when they irst get on the bus. They complete the business plans during the trip and once at the festival, the top teams present their ideas to venture capitalists in an attempt to receive funding. RIO, with the assistance of local incubator leadership, selected four Baton Rouge area entrepreneurs to join Terry on the Miami bus. They were Dr. James Davis, co-founder of Peoplenetz; Brian Jackson, creative design director at Nerjyzed Entertainment; Logan Leger, a junior at LSU and a member of the Stephenson Entrepreneur Institute’s Fellows program; and Jared Loftus, owner of Tiger District and Taco de Paco. The ive documented their experiences through a number of social media outlets. As added bonus, RIO was able to convince the organizers of the StartupBus to have the buses from Miami and New York stop in Baton Rouge overnight on their way to Austin. The StartupBus entrepreneurs,
as well as the public, were treated to a party celebrating their arrival and showcasing the Capital Region’s entrepreneurial community.
Things are going great, and they’re only getting better – Timbuk 3, “The Future’s So Bright, I Gotta Wear Shades” There is little doubt that RIO’s work will need to be evaluated over the long term. Ensuring that it’s a hit will take time, efort, and patience. There is, however, absolutely no doubt that its future is a positive one. The commitment of BRAC, the RPC, the incubators, and the entire entrepreneur community shows that there is the proper support for success. With a lineup like that, the Capital Region is assured of making great music for years to come.
Q1 2011 17
IN PERSPECTIVE Each issue of Catalyst includes a national expert contributing new ideas about economic development issues.
THERE’S A NEW
ENTREPRENE ACCELERATO
IN TOWN By Ray Leach
P
H I L B R E N N A N I S A M A N O F M A N Y TA L E N T S . An Irishman, who now calls Akron, Ohio home, Phil has been an actor, a brand manager, and a business leader. In 2006, he added entrepreneur to his resume. As the CEO of Echogen Power Systems,
Phil is leading a forty-person team in the final stages of commercializing a thermal heat engine. When placed into a factory smokestack, the engine transforms the escaping heat into electricity which can be used to power the factory and, potentially, homes in the neighboring area. Not only is it a new energy source, it is harnessing energy that is wasted today.
18
URIAL R Stories like this are common in existing entrepreneurial
One of the most critical elements for Akron’s ecosystem
hotbeds like Silicon Valley, Boston, San Diego, and
was the addition of an accelerator. Accelerators provide
Seattle… but Akron? As traditional employers are
the most important resources irst-time entrepreneurs,
forced to shed jobs rather than create them, Akron
with only an idea and a business plan, need to get their
civic leaders have realized the need for new industries
high-growth companies of the ground—experienced
and new job growth. Armed with the knowledge that
guidance, technical expertise, and, sometimes, capital.
the fastest growing 1% of young companies create 40% of the country’s jobs, they decided to accelerate the growth of young, innovative companies. The Midwest city focused on building new programs that would leverage its identiied strengths, including polymers and biomaterials, but bring something new, and needed, to the city.
Guidance is critical, particularly for first-time entrepreneurs; having never turned a business plan and a technology into a product for a market, they do not know which activities will create value and lead to growth. Accelerators provide experienced entrepreneurs who have “done it before” to help guide entrepreneurs through the process.
Q1 2011 19
“With the combination of rich sources of entrepreneurial, research, and incubation assets, and the commitment of its leaders, the region is well-positioned for RIO accelerator to help transform ideas and research into high-value companies.”
Technical expertise is often necessary to help these entrepreneurs apply their unique technology to a
Thanks to the hard work of civic leaders in the Baton
product that works and meets market needs. For example, Phil Brennan had to make sure that his heat engine could convert escaping heat into electricity in both a lab and a commercial environment. Accelerator
called RIO: Regional Innovation Organization. The Capital Region already has a number of programs to help entrepreneurs, including the Louisiana Business and Technology Center, the Louisiana Emerging Technology
experts help entrepreneurs eliminate the technical risks associated with their product ideas.
Center, the LSU AgCenter, the Pennington Biomedical Research Center, and the Louisiana Technology Park. But like Akron, civic leaders saw the need for an
Entrepreneurially friendly capital is the lifeblood of these early-stage companies. Connecting companies to funding or investing in them directly, accelerators provide the money necessary for entrepreneurs to prove their technologies and continue growing their businesses. Akron’s Echogen is currently adding employees and has
Rouge area, the region has just launched a new accelerator
accelerator to link these resources and create more successful companies. Mike Mozenter, the President of JumpStart Community Advisors and an expert in building regional entrepreneurial ecosystems, has visited with a team of regional leaders, Louisiana Economic Development, the Baton Rouge Area Chamber, and LSU, all critical participants in the regional ecosystem.
gone on to win awards, secure millions of grant dollars, and close a $10 million strategic investment. Ultimately, the beneit of an accelerator is in the creation of new,
“With the combination of rich sources of entrepreneurial,
entrepreneurial companies like this, which attract additional capital to the region and create hundreds, or even thousands, of globally competitive jobs for a region’s residents.
research, and incubation assets, and the commitment of its leaders, the region is well positioned for RIO to help transform ideas and research into high-value companies,” Mike said. Read more about RIO on page 14.
About Ray Leach Leach is the founding CEO of JumpStart Inc. and under his leadership, the Cleveland-based organization has gained national recognition for its innovative model and economic impact in Northeast Ohio, leading to its recent launch of the JumpStart America Initiative in January 2011. He has started a number of companies and taught at the MIT Sloan School of Management while earning his MBA as a Sloan Fellow. Leach served as an Entrepreneur-in-Residence for CommonAngels, Boston’s largest angel investor organization, and is a member of the U.S. Commerce Department’s National Advisory Council on Innovation and Entrepreneurship (NACIE).
20
Investors economic development
THE CREATIVE CAPITAL AGENDA 2 0 1 1 - 2 0 1 5
Chairman’s Council
Policy Council
Annual Investment of $100,000+
Annual Investment of $10,000+
(Five-year total pledge of at least $500,000)
(Five-year total pledge of at least $50,000)
All Star Automotive Group • Baton Rouge Area Foundation / Commercial Properties Realty Trust • Credit Bureau of Baton Rouge Foundation• East Baton Rouge Mortgage Finance Authority • ExxonMobil • Guaranty Group • Louisiana State University System • Manship Media (The Advocate and WBRZ) • Our Lady of the Lake Regional Medical Center • Research Park Corporation
Associated Grocers • Belle of Baton Rouge Casino • Cajun Industries, LLC • Embassy Suites Baton Rouge • Faulk & Winkler, L.L.C. • Gulf South Business Systems & Consultants, Inc. • Hannis T. Bourgeois, LLP • Hollingsworth Richards Automotive Group • I.T. by DESIGN • Louisiana Radio Network / Tiger Rag • McDonald’s of Baton Rouge • McGlinchey Staford PLLC • Postlethwaite & Netterville • Starmount Life Insurance Company • SJB Group, LLC
Executive Council Annual Investment of $50,000+ (Five-year total pledge of at least $250,000) Adams & Reese Law Firm • Baton Rouge Coca-Cola Bottling Company • Baton Rouge General Medical Center • Blue Cross Blue Shield of Louisiana • Breazeale, Sachse & Wilson, L.L.P. • Capital One Bank • Clear Channel Radio • Cox Communications • CSRS, Inc. • Entergy • Greater Baton Rouge Business Report • Jones, Walker, Waechter, Poitevent, CarrEre & DenEgre, L.L.P. • JPMorgan Chase • Kean, Miller, Hawthorne, D’Armond, McCowan & Jarman L.L.P. • Lamar Advertising Company • LUBA Workers’ Comp • Ochsner Health Center Baton Rouge / Ochsner Medical Center Baton Rouge • Phelps Dunbar, L.L.P. • Regions Bank • Taylor, Porter, Brooks & Phillips, L.L.P. • The Shaw Group Inc. • Turner Industries Group • WAFB • Whitney National Bank
Ambassador Council Annual Investment of $25,000+ (Five-year total pledge of at least $125,000) Amedisys, Inc. • Baton Rouge Water Company • Brookwood Properties, L.L.C. • D’ Honore’ Construction, Inc. • Dow Chemical Company • EATEL / SunShine Pages • Greater Baton Rouge Association of REALTORS© • Hancock Bank • Hollywood Casino • L’Auberge Casino & Hotel Baton Rouge • MAPP Construction, L.L.C. • Mockler Beverage Company • Performance Contractors • Woman’s Hospital
Corporate Council
Supporting Investor Annual Investment of $4,000+ (Five-year total pledge of at least $20,000) Acme Refrigeration of Baton Rouge, Inc. • Advantage Capital Partners • Apex Constructors, LLC. • Armstrong Relocation • Ascension Economic Development Corporation • BancorpSouth • BASF Global • Baton Rouge Duplicating Products • Baton Rouge Telco Federal Credit Union • Benny’s Car Wash • Brock Services, Ltd. • Chenevert Architects • Cintas • Community Cofee Company • Dee MatherMuenzler Re/Max First • EMCO Technologies • Felder’s Collision Parts, Inc. • First Bank and Trust • Forte and Tablada, Inc. • GoodPeople • GOTECH, Inc. • Grace and Hebert • Gulf Coast BIDCO • Harmony Center • Harris Manor Realty • Hearin Properties - PODS • Iberia Bank • KPMG LLP • Kurz & Hebert Commercial Real Estate, Inc. • La Capitol Federal Credit Union • Launch Media • Lee Michaels Fine Jewelry • Lipsey’s • Lofton Staing Services • Lyons Specialty Company • Mary Bird Perkins Cancer Center • Massengale Grounds Management, Inc. • MidSouth Bank • Neighbors Federal Credit Union • Piccadilly Restaurants • Raising Cane’s Chicken Fingers • Southpoint Volkswagen • SSA Consultants • Star Service • State Bank & Trust Company • Stonehenge Capital Company • Stone Pigman Walther Wittmann, LLC • The Celtic Group • The Livingston Parish News • Union Paciic Railroad • Wampold Companies • Wright & Percy Insurance BRAC also receives signiicant funding support from Louisiana Economic Development (LED) and the City of Baton Rouge/ Parish of East Baton Rouge
Annual Investment of $15,000+ (Five-year total pledge of at least $75,000) Antares Technology Solutions • Atmos Energy • Milton J. Womack, Inc. • Object 9 • Venyu Solutions, Inc.
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