NEW IBERIA, La. (AP) — Progress Point, a business park planned near Acadiana Regional Airport, is on schedule, with designs expected to be complete within the next 90 days.

Mike Tarantino, president and CEO of the Iberia Industrial Development Foundation, says  the park is a project of the Iberia Economic Development Authority and about $1 million in state funds have been earmarked to acquire property for the development.

Tarantino says the park, planned for about 50 acres near U.S. Highway 90 and La. 675, is being marketed as a mixed-use location for office headquarters, retail, light manufacturing, and research and development.

He says the proximity to the airport and access to U.S. 90 make the park an ideal location for businesses associated with the area's existing industries.