LULING — Louisiana Economic Development finalized a $10 million investment that will allow open access to more than 1,000 acres of undeveloped commercial and industrial property in Luling. 

State economic development officials say they plan to extend Judge Edward Dufresne Parkway through Esperanza Business Park in St. Charles Parish through the state's FastSites initiative, which is designed to transform land into project-ready sites. The project will add a more than two-mile extension to the parkway and include infrastructure improvements to support future development. 

"Our family has worked for years to position Esperanza Business Park for long-term growth," Esperanza landowner Dedra Defresne Vial said in a prepared statement. "LED’s FastSites investment will extend critical roadway and utility infrastructure into the undeveloped portion of the property and provide site access from LA3127. This direct access positions the site to compete for major projects with the speed and infrastructure readiness companies expect."

Esperanza Business Park offers access to Interstate 310, the Mississippi River, Union Pacific rail, Louis Armstrong New Orleans International Airport and the Port of South Louisiana. Major electrical transmission, natural gas and hydrogen pipeline infrastructure also cross the property, according to LED. 

Repayment of the investment is set to begin in 2028, with the full $10 million returned by mid-2033. This revolving investment model allows Louisiana to reinvest those funds into future site and infrastructure projects. 

“Esperanza has the scale, location and industrial infrastructure to compete for major investment," LED Secretary Susan B. Bourgeois said. "FastSites allows us to build on those strengths by improving access now, before the next opportunity arrives, and gives St. Charles Parish more capacity to attract projects that can create jobs and investment for years to come.”