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Louisiana is the 11th Best State for Business 2013

Previous State: Georgia Next State: Utah No. 11Louisiana Taxations & Regulations Workforce Quality Living Environment Based on CEO Survey by …

Previous State: Georgia Next State: Utah

No. 11Louisiana

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 

  • % Growth ’10-’11: 0.5
  • % Growth ’10-’11 v. Nat’l Avg. (1.5%): -1.0

Unemployment

  • Unemployment Rate Dec. 2012 %: 5.6
  • Comparison with Nat’l Rate (7.80%): -2.2

Domestic Migration

  • Domestic Net Migration ’10-’11: 7,085
  • Rank: 14

State Government

  • Debt per Capita Fiscal Year ’10 ($): 3,861
  • State & Local Gov’t Employees per 10k Residents: 605.1

State-Local Tax Burden

  • Rate (%): 10.1
  • Compared to Nat’l Avg. (9.9%): 0.24
Key Companies
  • Shaw Group
  • CenturyLink
  • Albemarle
Development Trend Indicator: Positive
Beefing up workforce development to finally escape Katrina’s shadow.
CEO Comments
“Over the last several years, due to strategic investments in economic development and successful reform initiatives, Louisiana has become an extremely attractive place to do business. Their new business climate has been validated by the vast number of economic development successes.”

“Louisiana has historically been accused of cronyism and back room dealings. But the times (and laws) have changed and the state is open for business. It is evident everywhere you turn.”

“We find several states today as ‘real comers.’ This is especially true with Kentucky, Louisiana, North Dakota, Montana and Tennessee (although it has been on a fast track somewhat longer than the others).”

“Louisiana has been a great place to do business.”

“LA has a proactive, aggressive state economic development organization (LED) that provides expert resources for site selection and real estate acquisition, workforce training, and highly competitive tax incentives. LED also provides direct engineering and environmental consulting support for assistance in location evaluation and facility permitting knowledge.”

“Louisiana is constantly looking to improve its efforts in workforce development.”

“Louisiana has been the easiest state to not only start, but nurture a new venture that I have ever encountered in all of my year of starting new companies. They not only promote a highly incentivized platform, but they validate their word by assisting with the process and making the transition to a fully operational company easy. I recommend this state to everyone I speak to!”

“Louisiana rolls out the red carpet. The State’s leadership is accessible at all levels. The workforce is hard-working and trainable, but supply is becoming constrained.”

“Louisiana is on the right track. We have been fiscally responsible, and we are fortunate that our natural and man-made resources have allowed us to prosper the last few years. Our leadership has successfully used economic incentives to produce positive results. We are poised to grow while others flounder.”

“My company operates in 3 (soon to be 4) states. Of those 3, LA offers more incentives and better qualified workers.”

“Louisiana has become a very attractive state in which to locate a business. The governor and legislators have made great strides in recent years.”

“Over the last several years, due to strategic investments in economic development and successful reform initiatives, Louisiana has become an extremely attractive place to do business. Their new business climate has been validated by the vast number of economic development successes.”

“Louisiana was very aggressive in attracting our technology business to LA. They also did an excellent job of connecting us with LSU and other local colleges so we could get comfortable with the workforce.”

“The business climate in Louisiana is electric with opportunities and positive momentum. Help wanted and job postings are everywhere and the trickle down projects due to low cost natural gas alone will make the economy strong for the next three years. The FastStart program and the Day One Guarantee are best in class.”

“The support from the local and state administration has contributed to the growth of our company. In addition to administrative and legislative support, the local community and business leaders … provide our company with the necessary infrastructure needed to develop, produce, and deliver quality product that has allowed us to realize continued success.”

“Louisiana has improved dramatically. New Orleans is very dynamic economy and people. Great port. Great focus on information technology. Good universities.”

“I cannot imagine a more supportive state in which to start and grow a business than Louisiana. We also work with Executives of other Louisiana companies who have been able to grow nationally and internationally from their Louisiana corporate offices. In many cases, it is the ‘Cajun ingenuity’ that has allowed these companies to sometimes be the only ones to create unique solutions to operational challenges in other states.”

“The tax and regulatory environment does not impede our growth in any way. Louisiana is a relatively small community that creates opportunities for unique business and personal friendships and interesting life experiences. Business leaders are very focused on quality of life issues for their communities and are committed to doing their part to continue to improve the quality of life for their employees and the community.”

“The overall climate is business friendly and works well with the industrial sector. At the same time, the state has broadened its horizons with economic incentives to create a rapidly expanding film, software and tech company industry.”

“In Louisiana the DEQ and DOTD make it difficult.”

“Louisiana has made great strides in improving the level of education and they have been very smart on stimulating new business development via tax credits and recruitment. Low cost of living and taxes. TOPS provides free college tuition for residents. Big recovery from Katrina. Entrepreneurial spirit everywhere. Influx of highly educated next generation leaders.”

“Louisiana places a huge focus on new industry and particularly digital media that is unmatched in the country. Easy access to leadership and the legislature to create a progressively favorable business climate.”

“The business incentives in Louisiana are really good. As we’ve expanded into other states and worked with their Economic Development teams on incentives to invest in their state, we’ve continued to realize how good the business incentives are in Louisiana.”

“We find that the Louisiana State Economic Development team are very focused on business retention and not ignoring existing businesses and only focusing their incentives and programs on bringing in new businesses.”

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

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About JP Donlon

JP Donlon
JP Donlon is the Editor-in-Chief of Chief Executive magazine.