Site Selection, a national expansion planning publication, has ranked Louisiana Economic Development the No. 1 state economic development agency in the country.
The official publication of the Industrial Asset Management Council, the magazine this week announced its 2010 Competitiveness Awards, which for the past nine years have recognized excellence on the part of state-level economic development groups. LED was ranked No. 2 last year and did not appear in the top 10 in any prior year.
LED, with 431 points based on Site Selection’s quantitative ranking criteria, beat Virginia (402) for the top spot. Texas (391), North Carolina (373) and South Carolina (369) round out the top five.
Since January 2008, LED has secured business development projects that are creating more than 39,500 new direct and indirect jobs and more than $8.5 billion in new capital investment, as well as billions in new sales for small businesses.
“We are especially grateful that Gov. Jindal and the Legislature have provided us with the tools necessary to be recognized as the best performing state economic development agency in the nation, including our Business Expansion and Retention Group, State Economic Competitiveness Group and Louisiana FastStart™ workforce solutions program, as well as increased funding for small business development programs,” said LED Secretary Stephen Moret. “We are delighted to receive this recognition for our efforts, yet we know we have a lot of work left to do to position Louisiana’s economy to outperform the South and U.S. on a regular basis.”
The Site Selection rankings calculate the total points a state-level economic development agency received based mainly on Conway Data Inc.’s New Plant Database of new and expanded facilities and new facility announcements. The following 10 criteria were utilized in the indexing system:
Total new and expanded facilities in 2010
Total new and expanded facilities in 2010 per 1 million population
Total capital investment in new and expanded facilities in 2010
Total capital investment in new and expanded facilities per 1 million population in 2010
Total new jobs created in 2010
Total new jobs created in 2010 per 1 million population
Rank in the corporate real estate executive portion of the 2010 Site Selection Business Climate Ranking
State Gross Domestic Product per 1 million population
State unemployment rate
Business Incubation Index component of the Beacon Hill Institute’s State Competitiveness Report for 2010
In addition to LED's honor, the Baton Rouge Area Chamber and Southwest Louisiana Economic Development Alliance (Lake Charles) made Site Selection’s Top Groups ranking, with Greater New Orleans Inc. receiving Honorable Mention. Regional/local economic development agencies were ranked on four criteria: new jobs, new jobs per 10,000 residents, new investment amount and new investment per 10,000 residents. Then they were scrutinized for more subjective attributes — among them innovation, leadership and customer service.
This is the second year BRAC made the magazine’s Top Groups ranking and the first year SWLA made the Top Groups ranking.
Louisiana is drowning, quickly.
An investment group led by Macquarie Infrastructure and Real Assets will buy the Louisiana power company Cleco for $3.4 billion.
Local developer’s Lake Charles Gardens LLC purchases buildings and leases; land still owned by Dugas family.
Economist Loren Scott says Louisiana is in the midst of an industrial boom unlike any other in its history, with more than $100 billion in industrial projects either under construction or in the engineering and design phase.
The Louisiana Treasury holds $18 million in Israel Bonds — bonds that earn 2.868 percent when the three-year U.S. Treasury is yielding 1.08 percent.
ABiz celebrates another class of Acadiana's most influential female trailblazers, the Lourdes Foundation honors a local philanthropist and MedExpress in Opelousas celebrates its 22nd year as the “little ambulance service that could.”
Is Louisiana’s O&G industry ready to head south of the border?
Downtown’s newest live-work space for creatives doubles as a gallery for other upcoming artists to show their work.
A maritime case originating in Lafayette federal court could become a game changer for the oil and gas industry.
Here’s what’s at stake in the November Senate race — regardless of whether Republicans gain control of the upper chamber.
From the publisher’s in-box: ABiz reaches out to Lake Charles, time to “Come Home, Louisiana,” and now accepting nominations for Entrepreneur of the Year.
In late September Cleco and UL Lafayette showed off the Cleco Alternative Energy Center, where researchers explore ways to generate power by using renewable resources.
The most recent promotions, hirings and announcements from Acadiana's biz community.
While Amendments 1 and 2 will shield some health care providers from the budgetary whims of Gov. Jindal, they could make higher ed even more vulnerable to cuts.
Age 60 looks good on the country’s second-largest oil and gas show.
Local pieces and logo-emblazoned corporate gifts
Let’s show how much we care what it looks like.
The Memphis based investment firm Wunderlich recently arrived in Louisiana with the opening of a wealth management branch in Lafayette.
Broussard will soon be the site of a new Courtesy Automotive dealership.
Event addresses the industry’s growing need for qualified employees by providing an industry specific networking event.
Attorney General Buddy Caldwell’s office announced Thursday that AT&T Mobility has agreed to a $105 million settlement with Louisiana and the other 49 states over allegations that the company added third-party charges to AT&T customers’ bills without their consent or knowledge.
Investors aren’t enthusiastic about parent company Gannett’s spinoff plan, and that’s bad news for employees.
Lafayette Consolidated Government was the victor at the 3rd Circuit Court of Appeal in a suit brought against it by a billboard company that argued new(ish) zoning regulations prevented it from making good on a contract.
The state labor department figures released Friday show the initial claims increased to 2,081 from the previous week's total of 1,887. For the comparable week a year earlier, there were 2,456.
The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.