Louisiana Enjoys Best Business Development Year Yet in 2013

In 2013, Louisiana achieved record economic development success, securing more retained jobs, more new jobs and more capital investment than in any of the five prior years. The state attracted 67 major project wins that will generate about 27,000 new jobs and $26.4 billion in new capital investment as the projects are completed.

Traditional bellwethers of Louisiana’s economy — chemical manufacturing and agribusiness, for example — gained new momentum while the state enjoyed increasing success in new growth industries, such as software development, digital media, clean tech and aerospace.

IBM broke ground on a new 800-job Technology Center in Baton Rouge, La., a landmark software development win that will see Big Blue bolster its delivery of corporate software solutions from a $55 million urban development. A $14 million state-funded partnership led by Louisiana State University will undergird the IBM project and triple the number of undergraduate computer science degrees granted each year by the university.

Significant aerospace wins included the state’s first complete aircraft assembly facility in the modern era, with Bell Helicopter choosing the Lafayette Regional Airport to assemble its new Short Light Single (SLS) aircraft. In Lake Charles, La., AAR Corp. opened what will become a 750-job aircraft Maintenance, Repair and Overhaul (MRO) facility.

Major manufacturing projects included the Methanex Corp. selection of Ascension Parish for a second methanol plant moved from Chile, with the two plants combining for more than $1.1 billion in capital investment and more than 1,300 new direct and indirect jobs. In Central Louisiana, Gulf Coast Spinning Company announced a $130 million cotton spinning facility that will produce textiles for clothing manufacturers and create 307 new direct jobs in Bunkie, La. Also in Central Louisiana, Cool Planet Energy Systems will build three micro-refineries converting biomass to gasoline, with a $168 million capital investment leading to nearly 500 new direct and indirect jobs.

Rain CII, which produces critical feedstock for aluminum manufacturers, announced the relocation of its corporate headquarters from Houston to Covington, La., near New Orleans. The company will create 71 new jobs while investing $65 million at its four Louisiana plants. CB&I announced the relocation of 400 corporate professionals from around the nation to its Baton Rouge-based Government Solutions group. And in New Orleans, defense and aerospace contractor Lockheed Martin will build liquefied natural gas, or LNG, storage tanks, diversifying its work for NASA into the private sector and creating 166 new direct jobs.

In North Louisiana, Teleperformance will create 740 new positions at its Shreveport, La., customer contact center, bringing total employment to 2,000, while another business process center in Monroe, La. — Wingspan Portfolio Advisors — will add 532 positions in a home mortgage finance center.

Sealing the state’s record economic momentum was Louisiana’s highest-ever performance on three national business climate rankings: Site Selection (No. 6), Area Development (No. 6) and Business Facilities (No. 4), with Business Facilities naming Louisiana’s LED FastStart^® the No. 1 state workforce training program in the U.S. for the fourth straight year.

In 2013, Louisiana achieved record economic development success, securing more retained jobs, more new jobs and more capital investment than in any of the five prior years. The state attracted 67 major projectwins that will generate about 27,000 new jobs and $26.4 billion in newcapital investment as the projects are completed.

Traditional bellwethers of Louisiana’s economy — chemical manufacturing and agribusiness, for example — gained new momentum while the state enjoyed increasing success in new growth industries, such as software development, digital media, clean tech and aerospace.

IBM broke ground on a new 800-job Technology Center in Baton Rouge, La., a landmark software development win that will see Big Blue bolster its delivery of corporate software solutions from a $55 million urban development. A $14 million state-funded partnership led by Louisiana State University will undergird the IBM project and triple the number of undergraduate computer science degrees granted each year by the university.

Significant aerospace wins included the state’s first complete aircraft assembly facility in the modern era, with Bell Helicopter choosing the Lafayette Regional Airport to assemble its new Short Light Single (SLS) aircraft. In Lake Charles, La., AAR Corp. opened what will become a 750-job aircraft Maintenance, Repair and Overhaul (MRO) facility.

Major manufacturing projects included the Methanex Corp. selection of Ascension Parish for a second methanol plant moved from Chile, with the two plants combining for more than $1.1 billion in capital investment and more than 1,300 new direct and indirect jobs. In Central Louisiana, Gulf Coast Spinning Company announced a $130 million cotton spinning facility that will produce textiles for clothing manufacturers and create 307 new direct jobs in Bunkie, La. Also in Central Louisiana, Cool Planet Energy Systems will build three micro-refineries converting biomass to gasoline, with a $168 million capital investment leading to nearly 500 new direct and indirect jobs.

Rain CII, which produces critical feedstock for aluminum manufacturers, announced the relocation of its corporate headquarters from Houston to Covington, La., near New Orleans. The company will create 71 new jobs while investing $65 million at its four Louisiana plants. CB&I announced the relocation of 400 corporate professionals from around the nation to its Baton Rouge-based Government Solutions group. And in New Orleans, defense and aerospace contractor Lockheed Martin will build liquefied natural gas, or LNG, storage tanks, diversifying its work for NASA into the private sector and creating 166 new direct jobs.

In North Louisiana, Teleperformance will create 740 new positions at its Shreveport, La., customer contact center, bringing total employment to 2,000, while another business process center in Monroe, La. — Wingspan Portfolio Advisors — will add 532 positions in a home mortgage finance center.

Sealing the state’s record economic momentum was Louisiana’s highest-ever performance on three national business climate rankings: Site Selection (No. 6), Area Development (No. 6) and Business Facilities (No. 4), with Business Facilities naming Louisiana’s LED FastStart^® the No. 1 state workforce training program in the U.S. for the fourth straight year.