Sunday, May 26, 2024

Economic Development in Louisiana Needs a Boost: Committee of 100 Releases April Intelligence Dashboard

by David Specht

The Committee of 100, an influential voice in Louisiana’s economic landscape, has released its latest intelligence dashboard, shedding light on the state’s economic development status. The report, unveiled on April 17, 2024, highlights the pressing need for revitalized economic growth to propel Louisiana forward in job creation and population retention.

According to the findings, Louisiana’s economic development sector requires a significant boost to align with the progress seen in other southern states. The dashboard, available for viewing and sharing at c100la.org/research, emphasizes the urgency of informed decision-making among policymakers to drive faster rates of economic growth.

Adam Knapp, CEO of the Committee of 100, emphasized the importance of legislative action, particularly Senate Bill 494, which proposes a reorganization of Louisiana Economic Development. Knapp underscored the endorsement of this legislation as a crucial step towards enhancing the state’s strategic positioning and competitiveness in economic development endeavors.

Key highlights from the April dashboard include:

  • A decline in state economic development outcomes over the last eight years compared to the preceding eight years.
  • Decreased economic development activities observed over the past four years compared to the previous four years.
  • Notable job growth in the Bayou Region and Northshore Region over the last year.
  • Persistent lag in job creation compared to neighboring southern states.
  • Population decline in most metro and micro regions, coupled with increasing labor force participation.
  • A significant shift in the economy, with 34,670 more people employed than in non-farm jobs, indicating a notable transition post-COVID-19.

The Committee of 100, established in 1992, serves as Louisiana’s premier business roundtable, advocating for economic development and state public policy initiatives aimed at enhancing the state’s competitiveness. Comprising top leaders from the business and academic sectors, the organization strives for nonpartisan advocacy to advance Louisiana’s interests for the benefit of all residents.

For more information, visit www.c100la.org.

You may also like

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00