The C4 Report: Louisiana Strong – Part 2

Last week we presented information in part 1 of an excellent presentation that Louisiana Secretary of Economic Development, Stephen Moret gave at our June Monthly Members Luncheon.  Here is part 2.

Louisiana has a bright future! Mr. Moret pointed out that Louisiana is poised to become an economic powerhouse of the South and there are several reasons for this.  In his presentation, Mr. Moret pointed to five NEWLY developing reasons to be optimistic about Louisiana's economic outlook and its ability to become the next powerhouse of the South!

1.Implementation of recently adopted public education reforms (based on laws passed during the 2012 legislative session, which will result in improved graduation rates, better student test scores and higher educational attainment levels – all critical issues for small business development as well as attraction of new business investment and jobs to Louisiana)

2.Low, stable natural gas prices caused by the Haynesville Shale and other unconventional shale plays around the country (which will catalyze many new manufacturing, energy and chemical production facilities in the U.S., a substantial number of which will come to Louisiana, as well as lower electricity rates for many consumers and businesses in Louisiana)

3.The return of (some) manufacturing from China (which will result in hundreds of thousands of new jobs in the U.S. over the next 10-15 years, mostly in the Southern U.S.; we're getting Louisiana positioned to be a major beneficiary of this trend)

4.The remarkable turnaround underway in New Orleans (which will help improve the image of our whole state, since the farther you get away from Louisiana, the more people equate their view of our whole state with their perspective about New Orleans)

5.Louisiana's dramatically improved business climate image and rankings (in the last 4.5 years, Louisiana has improved to its highest-ever position on every national ranking of state business climates, which is helping us attract more prospects and higher quality projects), for example:

1.Forbes Best States for Business – ranked 49th in 2008; now ranked 30th (+19 spots)

2. Chief Executive Magazine Best/Worst States for Business – ranked 47th in 2008; now ranked 13th (+34 spots)

3. Pollina Corporate Real Estate Top Business States – ranked 40th in 2008; now ranked 18th (+22 spots)

4.Several business climate rankings (e.g., Site Selection, Business Facilities and Area Development) now place Louisiana among the top 10 states in the country for business

I personally want to thank Mr. Moret and his staff for providing the information for this article and for coming to our meeting to make this presentation.  Hopefully, you are encouraged about the great possibilities ahead for our Louisiana!  Come out next month and hear from Dan Juneau, President of the Louisiana Association of Business and Industry.  Meeting will be held at Kristenwood, doors open at 11:30am, and the cost, including lunch, is $12.  See you there!