Moret: Louisiana continues to outperform South and U.S.

http://www.thetowntalk.com/article/20120926/OPINION/209260317

12:19 PM, Sep 26, 2012

Written by Stephen Moret 

Over the last four years, despite facing a deep national economic downturn and harmful policies of the Obama administration that have constrained our growth, Louisiana has significantly outperformed the South and U.S.

Only six states in our country have more jobs today than in January 2008. Louisiana and Texas are the only two such states in the South. In fact, Louisiana's job growth has been second fastest in the South since 2008, and third fastest over the last 12 months.



Per-capita personal income in Louisiana has increased by more than $2,700 over the last four years, improving our national ranking to its highest level in more than 80 years.


According to the U.S. Census, for more than 20 consecutive years, more people moved out of Louisiana than moved in, but for the past four years in a row, more people moved into Louisiana than moved out. People are voting with their feet and moving here because Louisiana has experienced job growth while most other states have experienced job losses.



Two significant contributors to Louisiana's relative economic performance have been our state's dramatic business climate improvements, as well as our aggressive business retention, expansion and recruitment efforts.


Since 2008, Louisiana has improved to its highest-ever position on every major national ranking of state business climates, and we have secured projects that are creating more than 51,500 new jobs and more than $12.6 billion in new capital investment.


We've helped secure a variety of economic development wins right here in Central Louisiana. For example, Sundrop Fuels plans to break ground by early 2013 on a $450 million biofuels refinery, which will result in 150 direct jobs with average salaries of about $58,000, plus benefits, as well as approximately 1,150 indirect jobs.


JELD-WEN, with state assistance for workforce recruitment and training, will open a $120 million facility that will create at least 75 new, direct jobs. Sutherland Global Services is creating 600 new jobs at its new business process outsourcing center. With state assistance, P&G recently completed a $100 million expansion, creating more than 100 new jobs.