Hammered by the soft global energy market, coal-producing West Virginia continues to lag national job-creation rates. Businesses have shed more than 5,800 jobs in the 12-month period beginning April 2015, nearly double the previous year’s rate. Real GDP slipped 2.15 in the four quarters; ending with Q3 2015; the national GDP growth rate was 2%. With tax revenues declining, this spring’s lack of consensus over how to balance the budget raised fears of furloughing state workers.
The coal country in the state’s southwest is hurting; but counties in the northwest, where one out of five residents work for the government, have been spared the brunt of economic turbulence. The Mountain State owns the lowest workforce participation rate in the country and leads in disability payments. Atlanta-based Jones Lang LaSalle site selector Gary Yates sees growth on the state’s eastern edge, driven by distribution centers.
In February, West Virginia became the 26th state in the country to adopt right-to-work legislation, a development that “will make a real difference” in attracting relocating companies, says incentives advisor McIntosh.
Louisiana, like every other U.S. energy producing state, has been hammered by fuel prices. In January, the lifting of the decades-long fuel export ban bolstered the Bayou State’s economy. By February, Cheniere’s Sabine Pass Terminal had exported its first liquefied natural gas shipment, triggering what state economic-development officials hope will be a much-needed capital infusion into the state. In May, Louisiana’s largest pipeline project—the Bosco Pumping Station in Ouachita Parish, connecting with the Gulf of Mexico—came online.
Louisiana Economic Development has announced several major chemical and petrochemical projects, creating nearly 5,500 direct jobs and over 35,000 supplier jobs, with investments surpassing $44 billion. Significant investment comes from overseas; since 2003, Louisiana has led the U.S. in per capita Foreign Direct Investment (FDI), and it ranks second for total FDI in that period, attracting over $30 billion, according to FDI Markets. Recent projects include Japan’s $1.4 billion ethylene expansion by Shintech, the $1 billion Australia-financed Aqua Ammonia plant under construction in Jefferson Parish outside New Orleans and the Netherland’s Shell Chemical’s $717 million expansion in Ascension Parish.
Mississippi grew by 1% last year, bettering its rate in 2014. And some economists are projecting a 2.2% growth or better in 2016, which would quintuple the decade’s annual average growth rate.
Moreover, with unemployment falling by half a percentage point in 2015 over 2014, professional and business sector employment growth is leading job creation, expanding at about 18.5%; leisure and hospitality grew 12% and information services growth reached 9%.
In February, global giant Continental announced a $1.4 billion investment in a new tire-manufacturing plant near Jackson to service its North American market. The project will employ 2,500 in this job-hungry state. In March, addressing a major employer concern, Mississippi allocated $55 million for workforce training programs.
Passage of controversial religious-freedom legislation generated pullouts and cancellations from entertainment-industry businesses and high-profile performers and state governments, while business leaders called for the bill’s repeal.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
