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PLANS FOR A large international airport and industrial complex somewhere in the River Parishes are gathering political steam.
The Louisiana Airport Authority, the state-appointed board marshaling the project, says it has the ear of investors who may foot most of the estimated $5 billion price tag for the development. Meanwhile, the Foster administration, which was cool to the idea a year ago, is urging the group to keep the project moving along.
"There is more support and we've grown more interested in it over the past year," says Rodney Braxton, Gov. Foster's assistant chief of staff.
A financial risk analysis recently completed by consultants for the Louisiana Airport Authority concluded that private investors could pay for 82% of the project, with much of the remaining funding coming from federal transportation grants.
"If someone wants to step up and invest billions of dollars in Louisiana, by all means we want to welcome that," says Braxton. "But we've told investors if they expect significant funding from the state, they're probably in the wrong place."
The Louisiana Airport Authority plans to issue requests for qualifications from developers soon. Braxton says if there is sufficient interest from private investors the state will back site selection efforts for the project and establish a timeline for its development. Authority Chairman Glen Smith says site selection could begin in March 2002.
The group envisions a 20,000-acre development at a site along the Mississippi River somewhere between New Orleans and Baton Rouge. The project would include up to four parallel runways and tie...