Companies in emerging and established sectors alike invested in the state and created jobs in biotechnology, software, energy and agribusiness. Firms cited factors such as a highly skilled workforce, unparalleled transportation infrastructure, low costs and pro-business climate in choosing Louisiana in 2016.
General Informatics announced it will invest in a new technology park in Baton Rouge, Louisiana, at the @Highland office park.
Companies that invested in the state include Crown Bioscience Inc., which chose New Iberia, Louisiana, for development of a pharmaceutical research center to advance treatments for cardiovascular disease and metabolic disorders.
CrownBio will coordinate its research efforts with the New Iberia Research Center, an affiliate of the University of Louisiana at Lafayette, which specializes in the management of nonhuman primates for applied and basic research
“It was important for us to be located at a facility with multiple research capabilities … (that can bring) drugs to the clinical phase,” said Jean-Pierre Wery, CrownBio president.
The state has become a hotbed for technology companies in recent years, a development that gained speed in 2016.
Tech-related announcements included Virginia-based CSRA’s decision to open a 300-job client-services center in Bossier City to support government technology customers.
CSRA, which provides cloud-based information technology to government clients across the nation, was already developing an 800-job integrated technology center at the 3,000-acre National Cyber Research Park in Bossier City, Louisiana, when it announced its second project in northwest Louisiana.
$20 MILLIONGENERAL INFORMATICS INVESTMENTIN BATON ROUGE
New and expanded technology projects spanned the state. General Informatics announced an investment of $20 million in a new technology park in Baton Rouge that will create nearly 150 jobs.
Waitr, the developer of a restaurant-delivery app and related technology, announced that it will open a 100-job technology center in Lafayette to support expansion of its technology in markets across the South.
Companies in established industries like energy and agribusiness also chose Louisiana for state-of the-art operations with a global reach. Venture Global LNG will develop an $8.5 billion natural gas liquefaction and export facility in Plaquemines Parish that will create 250 new, direct jobs and is expected to result in 728 new, indirect jobs.
Venture Global was already developing a $4.5 billion project in Cameron Parish when it announced the larger project in December 2016.
Agribusiness titan Monsanto placed a nearly $1 billion vote of confidence in Louisiana. The company announced a $975 million expansion at its Luling, Louisiana, manufacturing site that will create more than 540 new jobs.
Success Breeds Success
Such project wins reflect the hard work of creating and maintaining a business-friendly environment in the state, and those efforts should continue to pay dividends well into the future.
“Considering our highly skilled workforce, our geographic resources, and the robust economic development partnerships on the state, regional and local levels, companies from all across the globe continue to look to Louisiana as a smart and strategic destination for their next business investment.” Gov. John Bel Edwards said. “The investment by these companies is a testament to our strong global position.”
To read more about Louisiana Economic Developments achievements in 2016, view the annual report.