5.13 out of 10 in Taxation and Regulation
5.56 out of 10 in Workforce Quality
6.13 out of 10 in Living Environment
Right to Work? ✓
A Global Hub For Chemical Manufacturing
Falling oil prices took a bite out of Louisiana’s economy in recent years, but that’s been offset by an influx of big investments—some $135 billion—by global chemical manufacturers. Outside of the chemical industry, Louisiana has been diversifying its economy in recent years with more technology-driven sectors. In April, New Orleans startup Lucid announced a $60 million minority investment to expand its global reach.
From the Governor
“While my administration has prioritized recruiting economic development projects that bring new jobs to Louisiana, and while we continue to see positive jobs numbers resulting from our efforts, it is the hardworking people of Louisiana who make our economic progress possible.” —John Bel Edwards
Advanced Manufacturing, Aerospace, Agribusiness, Automotive, Energy, Entertainment, Processing, Software, Water Management
LED FastStart: Top-ranked workforce training program that offers customized employee recruiting, screening and training solutions for no cost to eligible employers.
Digital Interactive Media and Software Development Incentive: Offers a 25% tax credit for in-state labor and an 18% credit for eligible production expenditures.
Angel Investor Tax Credit: Offers up to 25.2% tax credit for individual investors who invest in early-stage, wealth-creating businesses that seek start-up and expansion capital.
Industrial Tax Exemption: Offers property tax abatement for up to eight years on a manufacturer’s new investment and annual capitalized additions.
Quality Jobs: Offers up to a 6% rebate on annual payroll expenses for up to 10 years, and either a sales/use tax rebate on capital expenses or a 1.5% investment tax credit for qualifying expenses.
Louisiana Economic Development: opportunitylouisiana.com
Louisiana Economic Development Association: ledagroup.org
Greater New Orleans Inc. Regional Economic Development: gnoinc.org
Highlighted Program or Initiative
The Certification for Manufacturing (C4M) initiative offers a one-semester certification program to prepare students for several disciplines within the field of manufacturing. The program is taught over 16 weeks and covers essential skills needed in the contemporary manufacturing environment.
- Venture Global LNG announced in December 2016 it would construct an $8.5 billion natural gas liquefaction facility and export terminal in Plaquemines Parish and create 250 new jobs.
- Lotte Chemical USA/Westlake Chemical announced in June 2016 it would invest $3 billion in two projects and add 265 new jobs in Lake Charles. The company also announced in April 2017 the relocation of its headquarters to the area.
- Wanhua Chemical announced in April 2017 it would construct a $1.12 billion chemical manufacturing complex in the state and add 170 new jobs.
- Graphic Packaging International and DHL Supply Chain, North America announced a $274 million, 1.27-million-square-foot logistics center and 93 new jobs in Monroe.
Dow Chemical ExxonMobil
Turner Industries Group Acme Truck Line Performance Contractors
Two Fortune 500 companies headquartered in state:
“When selecting a location for a center of this importance, we considered many attractive options across the country. Louisiana rose to the top of our list because of the advantages it offers in terms of talent, infrastructure, location and environment.” —Brackett Denniston II, Senior Vice President and General Counsel, GE
“Tax credits certainly encourage business in Louisiana, but I could have done business anywhere. I love Louisiana. It’s a great place to live and raise a family. The people have a good work ethic, and there is lots of space to grow.” —Deborah Fehr-Niswanger, Founder, Military Truck Parts