DEERFIELD BEACH, Fla., March 12, 2007 (PRIME NEWSWIRE) -- Red Reef Laboratories International, Inc. (Pink Sheets:RRLB) management, in view of the ongoing interest between The Louisiana Airport Authority and the Canadian Commercial Corporation in the development of The Louisiana Transportation Center (LTC), has prompted Red Reef Labs to accelerate its planning of the Napoleonville project located a short distance from the proposed site. In doing so, further disposition of acreage will be refocused to uses for the property as a whole.
The Louisiana Transportation Center is located between Donaldsonville and White Castle, LA, and is proposed as a 25,000 acre multi-modal center. The LTC will be aided by four modes of transportation-roads, rail, water and air. This concept is a cost-savings to companies that locate on site and has the potential to change the global lines of transportation with Louisiana at the forefront.
A study done by Economist Dr. Loren Scott predicts that the LTC has the potential to create over 70,000 jobs, $46 billion in new household earnings for Louisiana citizens, $195 billion in new sales for Louisiana businesses and over $2.5 billion in new taxes to the state.
In a recent interview, Adam Ritchie, Shell Aviation U.S. Regional Operations Manager shared his support of the LTC project and said, "Shell Aviation sees potential effects of the LTC extending far beyond our own focus on aviation fuel supply and services. For example, the project may be a game changer by creating regional jobs and new investment opportunities, improving the competitiveness of Louisiana exports to regional and global markets and acting as a model for the evolution of transport infrastructure in other markets."
Red Reef Labs will seek Highest and Best Uses for their property in view of these developments and is already engaged in useful discussions for potential development along with their Joint Venture partner JDM Capital Corporation, NYC, and others.
Dr. Claus Wagner-Bartak, President of Red Reef Labs states, "In this refocusing process Red Reef will be considering land leases and joint ventures to develop the land for scientific research facilities, hotel accommodations, on-site manufacturing and other services to complement the LTC development plan."
Red Reef Labs is encouraged by the recent developments and for the opportunity for long term profitability of its property holdings in Napoleonville, LA.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.
To access more information, please visit our web site at www.rrlabs.biz .