The Louisiana Association of Business Industry will move its statewide headquarters to 500 Main St. in downtown Baton Rouge after a $2.7 million purchase from the Baton Rouge Area Foundation.
LABI has a purchase agreement in place to acquire the building and land. The current tenant at that location, Stantec, will remain until it executes a planned relocation to the Water Campus in late 2018/early 2019. During this transition, Stantec will become a tenant of LABI.
Last week, LABI completed the $1.8 million sale of its current offices to University View Academy, which was looking to expand its footprint in the area. The building acquisition by University View will be the third addition to its expanding neighborhood campus.
LABI had been headquartered in the building since 1983.
“On behalf of the more than 2,200 businesses we proudly represent across Louisiana, we are very excited to announce that LABI will move its statewide headquarters to downtown Baton Rouge,” said LABI president and CEO Stephen Waguespack. “As the state chamber of commerce, manufacturing association and Louisiana’s largest business group, it is critical that we work closely in spirit and proximity with policymakers in the state capitol and other executive branch agencies. Our members work hard each day to hire Louisianans and invest in their communities, and they depend on us to promote free enterprise and economic growth on their behalf. Our new downtown headquarters will enable us to better accomplish that mission.”