New capital investment that’s expected
Louisiana landed dozens of significant company expansions and relocations to the state over the past year, resulting in the announcement of more than $16 billion in new capital investment that’s expected to create more than 25,000 jobs across the state, according to a year-end report issued by Louisiana Economic Development today.
“In 2015, Louisiana’s economy will experience significant job growth from projects announced over the past few years that are still ramping up. The fastest growing industry sector in Louisiana will again be software development and digital interactive media,” says LED Secretary Stephen Moret in a prepared statement. “Business retention, small business development, recruitment of new growth industries, customized workforce solutions, attraction of foreign direct investment, and cultivation of attractive development sites will remain top priorities for LED in 2015, as our agency works to strengthen Louisiana’s position as America’s new frontier for business opportunity.”
Moret says Louisiana’s continued success in economic development over the past year is reflected in improved state rankings from a wide variety of publications.
Among them, Chief Executive magazine reported that CEOs nationwide ranked Louisiana as the most-improved state for business over the past four years, with Louisiana climbing 31 spots since 2010 to now rank No. 9. Also, Area Development magazine ranked Louisiana No. 6 among the Top States for Doing Business, while Site Selection magazine ranked Louisiana No. 2 in its business climate report. Business Facilities magazine also ranked Louisiana No. 1 for the Best Business Climate in America, as well as No. 1 in the U.S. for state workforce development programs, highlighting LED FastStart as the nation’s top program for the fifth consecutive year.