Louisiana is strengthening its site development toolkit, positioning to win

Louisiana is strengthening its site development toolkit, positioning to win

Identifying the ideal location is a business’s first critical step to any successful business relocation. For more than a decade, Louisiana has been crafting and promoting programs to make this decision easy for potential businesses. 

Louisiana Economic Development (LED) has worked to secure the resources needed to stay ahead of the curve in the identification of development ready sites. Through its partnership with the Governor’s Office and the Louisiana Legislature, the department secures funding resources necessary to support site and infrastructure needs across the state. LED has broad flexibility to deploy these funds for economic development projects, including partnering with local governments and economic development organizations to invest in infrastructure improvements such as access roads, water and wastewater, rail spurs, and other infrastructure needs.

Site-specific programs include the LED Certified Sites Program and the Louisiana Competes Program which work in tandem. Louisiana’s portfolio of development-ready sites launched in 2010 with the Donaldsonville Technology & Industrial Park. Since then, more than 400 sites have been identified statewide, with more than 200 of those sites having completed due diligence or with due diligence in progress. More than 140 sites have gone through the comprehensive due diligence process and completed certification. Nearly 30 Certified Sites have been moved into higher commerce, with an estimated full build-out capital deployed of around $8.6 billion. Additionally at full build-out of these projects, there are an estimated 4,430 direct jobs to be created with annual wages of around $234 million.

In 2022, the state legislature passed the Louisiana Competes Act, a framework that has empowered the state’s eight Regional Economic Development Organizations with the tools and resources necessary to identify high priority sites and to get them shovel-ready in partnership with Louisiana Economic Development. LED’s site development efforts pair well with Louisiana’s superior transportation infrastructure which boasts six interstate highways, six Class 1 railroads, six deepwater ports and seven primary airports, providing in-state businesses with robust access to major global markets.

To complement its site development efforts, Louisiana has other important tools for business attraction and expansion such as LED FastStart® – the  award-winning workforce development and talent attraction program – and the Rapid Response Fund – used for expedient funds deployment to secure the creation or retention of jobs. Rounding out the tools for investment attraction is the state’s suite of highly competitive economic development incentives featuring programs like the Quality Jobs and the Industrial Tax Exemption programs alongside other incentives for job creation in energy, logistics, tech and software development, manufacturing, aerospace, life sciences, agribusiness, and entertainment. Collectively, these programs, funds, and incentives are solidifying Louisiana’s desirability for industrial and commercial prospects.

Mandi Mitchell, CEcD, President and CEO of the Lafayette Economic Development Authority (LEDA), points to the progress and momentum Louisiana is seeing. In 2023, the state completed 47 economic development projects that included $26 billion in capital investments, 4,700+ direct jobs, and 5,300 retained jobs. So far in the first four months of 2024, the state has announced 15 projects totaling about $4 billion in capital investment, nearly 800 new direct jobs, and 1,500 retained jobs.

“Louisiana's momentum in job creation and business expansions and relocations is igniting a path toward a brighter future, promising endless opportunities for economic prosperity for our citizens and businesses," Mitchell said.

In addition to her role at LEDA, Mitchell who worked at Louisiana Economic Development under two governors and two economic development cabinet secretaries, now serves on the boards of the Southern Economic Development Council (SEDC), the International Economic Development Council (IEDC), and the Louisiana Industrial Development Executives Association (LIDEA). Mitchell co-chaired Governor Jeff Landry’s Economic Transition Council alongside Bollinger Shipyards CEO Ben Bordelon. With nearly two decades of governmental affairs experience, including more than nine years at the state level, she’s seen a lot of growth and change in Louisiana’s economic development, and she says she’s excited about Louisiana’s future and projects in the pipeline.

“It is truly an exciting time to be a part of the economic development community in Louisiana as we join forces with Governor Landry and Secretary Bourgeois in positioning Louisiana to win,” Mitchell said.

In January, Jeff Landry was inaugurated as Louisiana’s new governor, and he appointed Susan Bonnett Bourgeois as the new cabinet Secretary at Louisiana Economic Development. Governor Landry has directed all state agency leaders to take a fresh look at their departments and to be bold. As such, Secretary Bourgeois is leading efforts to restructure and reorganize LED to enhance Louisiana’s competitiveness, focusing on expanding growth opportunities for existing economic driver companies and attracting new business investments. Secretary Bourgeois is leading the effort to enact legislation that will establish LED as a national leader, while also restructuring the department for efficiency and flexibility. Working with input from leaders in the private sector and regional and local economic development organizations, Secretary Bourgeois and her team will soon begin crafting a new, long-term strategic plan to strengthen Louisiana's competitiveness. Mitchell says stay tuned for greatness to come.

“We are more closely aligned than ever before with private sector leaders from our economic driver industries collaborating with state, regional, and local economic developers,” said Mitchell, “and we are confident that our efforts will result in a winning strategy featuring a rapid increase in our stock of shovel ready sites, a plentiful and skilled talent pool, and more aggressive promotion of what the State of Louisiana has to offer.”

Find more about Louisiana’s Certified Sites program here: https://www.opportunitylouisiana.gov/why-louisiana/certified-sites.