The Louisiana Procurement Technical Assistance Program Shouldn't Close

BATON ROUGE, LA – State Treasurer John Kennedy identified $400,000 Thursday that can be used to assist a financially strapped program that helps businesses find federal dollars.

The Louisiana Procurement Technical Assistance Center is in danger of closing its doors after failing to secure money in the $25 billion state budget. The center needs at least $185,000 to keep operating its counseling centers. Since 1989, LA PTAC has helped Louisiana businesses secure more than $4.5 billion in government contract dollars.

“This is a vital resource for small businesses in Louisiana,” Treasurer Kennedy said. “We cannot allow this 25-year-old program to grind to a halt. The money is available to keep it in business.”

The state wants Treasurer Kennedy to help dissolve a quasi-public corporation called the Louisiana Office Building Corp. The corporation, which hasn’t met in at least a decade, has more than $400,000 sitting in the bank and no debts. The state wants to put the corporation’s money into the state general fund.

“I’m in agreement that this money shouldn’t just sit in the bank,” Treasurer Kennedy said. “The money should be put to good use. I can think of no better use than to save the Louisiana Procurement Technical Assistance Center.”

Treasurer Kennedy will ask the Division of Administration this week to earmark the corporation’s money for LA PTAC. The small business program assists businesses in 54 Louisiana parishes.

“The PTAC program has operated effectively in Louisiana for many years, leveraging relatively small state investments to attract billions of dollars in federal contracts,” said State Rep. Walt Leger III. “This investment supports Louisiana small businesses, creates jobs, and generates revenues so the state can invest in education and health care. It’s a no-brainer. I’m grateful that the Treasurer has identified funds to keep this program going and applaud his work to support Louisiana’s small businesses.”

Contact:
Michelle Millhollon
(225) 342-0012
mmillhollon@treasury.state.la.us