Friday, June 21, 2024

Bossier Chamber updates businesses with State of the Community Report

by BIZ Magazine

On Wednesday, September 27, 2023, the Bossier Chamber of Commerce hosted their Second Annual State of the Community Report at the Hilton Garden Inn in Bossier City.  

The event focused on four key assets that define our region: Healthcare, Energy, Transportation and Defense.

“The State of the Community Report is a great way for Northwest Louisiana to reflect on its great assets,” said Jessica Hemingway, Vice President of the Bossier Chamber of Commerce, who was the principal investigator for the report. “After identifying these assets, the next step is to find ways to grow those assets to grow our economy and help us be more successful.”

Hemingway continued, “Why should we start from scratch trying to create an entirely new set of assets when we have great ones already? Our defense industry, our transportation systems, our healthcare industry and our energy sector – they are all strong! But, we could be great! Let’s be great!”

During the event, the data below was provided in regard to the current state of the assets mentioned above.

HEALTHCARE

LSU Health Shreveport 100-year review: 

*Increased the number of residents and fellows engaged in graduate medical education from

  556 to 631.

*Expanded from 41 to 47 accredited residency programs.

*Since the Ochsner LSU Health Shreveport clinical partnership, LSU Health Shreveport has  

 grown its clinical faculty 28%, adding 91 new physicians.

*Each practicing physician generates an average of $2M annually into our economy.

ENERGY

*North Louisiana is vital to the oil and gas industry.

*Natural gas production in the Haynesville Shale currently accounts for about 14% of all U.S. dry natural gas production.

*According to 2022 numbers, Louisiana shipped 63% of the nation’s liquefied natural gas exports and approximately 14% of its cool exports.

*An average of 65 rigs were in operation in 2022 in the Haynesville Shale. This represents a 43% increase compared with 2021. As natural gas prices fell in Q1 of 2023, the number of active rigs plateaued at approximately 68 rigs.

DEFENSE

*The impact of Barksdale Air Force Base on the local economy of Shreveport-Bossier has only grown over time, as Barksdale AFB is the single largest employer in the region. Barksdale is home to the Air Force Global Strike Command (with the 2nd Bomb Wing as its host), as well as the 8th Air Force, 307th Bomb Wing, 49th Test and Evaluation Squadron, Det 13 ACC TRSS, 8th information Warfare Flight and the 26h Operational Weather Squadron.

*In FY20, Department of Defense and United States Coast Guard (USCG) contract spending with Louisiana recipients reached nearly $2.5 billion. This is a notable increase since 2016. Ship building and other heavy and civil engineering construction are the leading sectors in which defense contracting work is performed in the state of Louisiana.

TECHNOLOGY

*The schools along the “Cyber Corridor” are gaining momentum in program offerings and working to grow the number of graduates in these program areas. 

*Bossier City is home to the National Cyber Research Park, which is the anchor to what we know as the “Cyber Corridor.”

— Stacey Tinsley, BIZ. Magazine

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