Edwards owes up to $155M to cover Jindal's business deals
BATON ROUGE - When Bobby Jindal exited the governor's office, he left behind a string of IOUs for his economic development deals.
At least $155 million in commitments for incentive payments and construction projects tied to various business deals could come due during the next four years of Gov. John Bel Edwards' term.
Governors regularly make business commitments beyond their terms, leaving successors to pick up the rest of the tab. But Jindal's obligations come as Edwards grapples with the state's deepest financial crisis in nearly 30 years.
In the upcoming budget year, the Edwards administration will owe an estimated $50 million to companies from Jindal's economic development deals.
Edwards' chief financial adviser, Jay Dardenne, says the administration will meet the contractual obligations, as long as the companies hit the required performance benchmarks.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Congratulations! Malary Pullen, husband expecting a baby
Still no update on downtown library
Nick & Cassie: A 20-year-old love message erased by traffic
Thieves steal $1,000 in lawn equipment from trailer parked outside local business
Recent graduates could score $20 laptops in Ascension Parish