“The diversity and growth potential of Louisiana’s top projects in both high-tech and traditional manufacturing, as well as healthy total investments, overall job creation and innovative incentives made Louisiana a clear winner of our annual ‘State of the Year’ Award,” said Business Facilities editor-in-chief Jack Rogers.
“We were particularly impressed with the diversity of Louisiana’s strategy for developing high-growth sectors, including digital media, alternative energy, advanced manufacturing and modular nuclear power plant components.”
Rogers noted that Louisiana “has emerged unbowed from a series of disasters that would have brought less-determined locations to their knees – including a major hurricane, an oil spill and the national economic downturn – and charted a course for the future that positions the state to be a national leader for years to come.”
“Since day one, we have made economic development our top priority by cutting taxes, revamping workforce training and reforming our ethics code,” said Gov. Bobby Jindal.
“We’ve made incredible progress and fostered an economic environment that is creating opportunity for our people, but we will not rest until all of our sons and daughters can pursue their dreams right here at home,” Jindal said.
“This terrific news is a reflection of Louisiana’s continued economic progress during a difficult national economic period,” said Louisiana Economic Development Secretary Stephen Moret.
“This recognition is in large part the result of recent economic competitiveness improvements in Louisiana, including business tax cuts, governmental ethics reform, the creation of LED FastStart and our focus on business retention and expansion,” Moret said.
Since 2008, Louisiana has moved up significantly in nearly every major national ranking of business climate, business investment, economic development or economic performance. In 2010 alone, Louisiana has secured a variety of impressive national rankings and improvements in national rankings, for example:
•Pollina Corporate Real Estate gave Louisiana its first ever “Most Improved State” designation based on Louisiana’s improved business climate ranking from 2008 to 2010. Louisiana ranked 20th on Pollina’s 2010 business climate ranking, up from 27th in 2009 and 40th in 2008.
•Site Selection magazine ranked Louisiana’s business climate the ninth best in the nation, which was also Louisiana’s first appearance in the top 10. Louisiana was also the most improved state in Site Selection’s ranking of top business climates based on its recent jump to No. 9 in 2010 from No. 25 in 2009.
Site Selection magazine ranked LED as the second best performing state economic development agency in the nation, appearing in the top 10 for the first time.
Southern Business & Development magazine named Louisiana “Co-state of the Year” for the second year in a row, citing Louisiana’s success in attracting more significant business development wins per capita than any other Southern state.
•Business Facilities magazine named LED FastStart the best state workforce training program in the U.S., and ranked Louisiana’s business climate eighth best overall in the U.S.
Runners-up in the 2010 “State of the Year” contest included Texas, Tennessee, Utah and South Carolina. Business Facilities magazine is a leading national publication reaching top site selection professionals, providing them with the critical information they need to make location choices for expansions, relocations or new facilities.
To read the full Business Facilities “State of the Year” article, visit www.BusinessFacilities.com.