[StBernard] Economic Development - A Mission to Move Louisiana Forward

[Westley Annis]

Economic Development - A Mission to Move Louisiana Forward
A column by Governor Kathleen Babineaux Blanco 

Louisiana is moving forward, positioning itself on a global stage for new and exciting economic opportunities. The world continues its watchful eye on our state, rooting us on to recovery.

This week I was fortunate to share news of Louisiana's recovery efforts and business investment opportunities while on a business mission in the United Kingdom. I was there with Louisiana Economic Development (LED) Secretary Michael Olivier and other dedicated economic development and business leaders, at the invitation of several members of Parliament.

While in the UK, we shared Louisiana's success stories of how we are growing traditional industries such as energy, heavy manufacturing and petrochemical, and cultivating emerging sectors. We also promoted viable sites to companies looking to build or expand and hosted a Gulf Opportunity Zone seminar to inform business leaders about time-sensitive federal incentives available for those investing in south Louisiana.

Much of this mission was about education and relationship building, to establish a rapport with key business contacts in the international business sector. We are grateful for the opportunity to promote Louisiana to key political and business leaders and members of Britain's Parliament. This mission will build on these new friendships, igniting the interest of UK executives who are now better acquainted with our state.

With this mission and related initiatives, Louisiana continues to demonstrate our commitment to economic growth. In the recent legislative session we created a $150 million fund for economic development to continue the momentum. This fund allows Louisiana to compete with others states and tells businesses across the globe we are serious about our business recruiting and retention efforts.

I have made economic development a top priority in my administration, enlisting the support of talented professionals such as those at LED who spearhead our economic development efforts. 

Our work -- locally, nationally and internationally -- to recruit new business or grow existing ones has clearly paid off for the state. In 2006, we announced $11 billion in capital investment and more than 48 projects, meaning 8,500 new jobs and 2,600 retained jobs for our citizens. Right now our economic development team is working on more than 180 projects or expansions to continue this economic growth for our state.

At the end of the day, economic development is more than mere numbers or business announcements. Economic development is a bridge to a better life, a route to recovery, a road to bustling communities. It is about enhancing the lives of our citizens, providing opportunities for them to earn better wages, sustain families, live better and build stronger, more vital communities. This is why economic development will continue to be both my passion and my mission.

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The Louisiana Disaster Recovery Foundation
Louisiana's Fund for Louisiana's People