[StBernard] Upgrading our Economic Outlook

[Westley Annis]

Dear Friends, 

Last week brought the great news that both Fitch Ratings and Standard &
Poor's (S&P) Ratings Services have upgraded Louisiana's bond rating, and
Moody's Investors Services has raised our state's credit outlook to
"positive." These announcements not only continue to show that the nation is
taking notice that we are transforming Louisiana's economy, but just as
importantly, as reported by the Lafayette Daily Advertiser
<http://click.bsftransmit1.com/ClickThru.aspx?pubids=RH7dlGGP0o3k9ofqwl71R2G
yNbl3%2b0Z3CUdxRCvfPfQ%3d&digest=UCvivsxdLcWGGlAK3zDBJg> , "A higher rating
cuts interest costs for taxpayers."

 
<http://images.publicaster.com/ImageLibrary/account848/images/20091013-Jinda
lMindenGroundBreaking.JPG> This marks the second year in a row our state has
been upgraded, and marks our highest Fitch Rating ever. Louisiana is also
the only state in the country to be upgraded by Fitch this year. Fitch
stated that a reason for upgrading our rating is that our state has "had
some recent success with economic development efforts that support
diversification," - such as last week's announcement that, as reported by
the Associated Press
<http://click.bsftransmit1.com/ClickThru.aspx?pubids=Nx%2fNLG2KeQtxNgHem6rIm
6Kd7AFm%2bQVuUuUJjtzOZtw%3d&digest=UtvHzqm%2bdu0gkESImZjpDg> , that "an
Iberia Parish boat builder has won a $3.9 million Coast Guard contract to
build 60 punt boats and navigation equipment."

Also, as the Thibodaux Daily Comet
<http://click.bsftransmit1.com/ClickThru.aspx?pubids=Q%2b0AsTikt1G3noav919Qr
T9a4avpiYZA3FVngJhiLUs%3d&digest=x0FP3GjIM%2f9SsbPmMCW8Jg>  reported,
"Standard & Poor's cited Louisiana's commitment to streamlining government
and improving budget management policies," as a factor in determining
Louisiana's rating. One such example of these efforts has been initiated at
the Department of Social Services, where our streamlining efforts have, as
written by the New Orleans Times-Picayune
<http://click.bsftransmit1.com/ClickThru.aspx?pubids=WcLgHsR1b%2fpAF0CCHlV%2
bPbNdgWrPk%2bT46%2fYXPE3WGVs%3d&digest=OOqufJQZW8UI0eZjBajqyw> , "ease[d]
the bureaucracy for applicants and [made] it cheaper to run the food stamp
program.what taxpayers call a win-win." We will continue to move forward
with our efforts to attract new jobs and economic opportunities to our
state, and to ensure that state government is living within its means just
like any Louisiana family. As the Baton Rouge Advocate
<http://click.bsftransmit1.com/ClickThru.aspx?pubids=OJW5h4Ba%2fidWRvB%2fuOc
Cw%2fxaf%2b%2b96GK7ysPlv1avfUs%3d&digest=tBl7oPhnhgHO1u2iZPyuTg>  wrote,
"the substantive moves by state government to improve financial management
are ones that provide real benefits to taxpayers."

We were also able to announce that all Outback Steakhouses in Louisiana will
only purchase Louisiana shrimp. Last year the 14 Outback locations in
Louisiana used nearly 60 tons of shrimp. Our state's shrimp industry employs
more than 14,000 workers and contributes nearly $1.3 billion to our economy.
As reported by the Houma Courier
<http://click.bsftransmit1.com/ClickThru.aspx?pubids=atBuGXjQLDUnIbnhRqUJapS
h2rqvHhHIqm3YSN6aaoo%3d&digest=qSbzfHJqOVUY6UP8VpIBKg> , this announcement
"will help promote the purchase and consumption of Louisiana shrimp and also
send a signal to companies all across the nation.buy Louisiana shrimp."

I traveled to Minden last week to attend the groundbreaking of the first
phase of the Regional Training Institute (RTI) at Camp Minden. The RTI
showcases the importance of our state's great relationship with our
military, as we beat out multiple other states competing for the project,
and the first phase of the project will create 290 new direct and indirect
jobs. 

The RTI will bring more than 8,000 troops to Camp Minden every year, and
represents what could become a $100 million construction project.
Additionally, as the Shreveport Times
<http://click.bsftransmit1.com/ClickThru.aspx?pubids=cX%2bKvu1hhzpKstiYZJ0Qq
yl9vr2SDOUgPUxiHlyIIAk%3d&digest=gp3nHeTY9HpiNpkpd3aUDg>  wrote, "an
economic impact analysis indicates the RTI will generate new state tax
revenues of almost $10 million in its first decade of operations alone."

I also visited St. Joseph, Denham Springs, and Bastrop this past week to
award 428 of our state's veterans with the Louisiana Veterans' Honor Medal.
As I said in the Bastrop Daily Enterprise
<http://click.bsftransmit1.com/ClickThru.aspx?pubids=yjPMWELm7cSdT4XXunGQkeO
FINMw3%2ff9%2bNgVoHjOAwA%3d&digest=yqp4PJE5ZMS0Mgv7R35O6Q> , our veterans
"represent the greatest character and the living spirit of America," and we
will continue to recognize and celebrate our veterans across the state in
the coming weeks.

Finally, I encourage you to read my opinion piece in the Washington Post
<http://click.bsftransmit1.com/ClickThru.aspx?pubids=ixz2hAt%2fHVjKqmTvVuMZQ
ho0Gdjo4dWURbheAk0bbx8%3d&digest=NnI%2ffOUkPZ5Ai3NjS576pg>  regarding health
care reform. We now have a chance to come together and create a solution
that works for all Americans, and, as I wrote, an opportunity to demonstrate
that conservative principles work when applied to real-world problems.

Sincerely,

Governor Bobby Jindal