President’s Message: Don’t Just Talk About the Weather – Do Something

Just as we are enduring the dog days of a long hot summer in South Louisiana, so too it seems that the entire country (and the world for that matter) is enduring the economic equivalent of dog days. While we can look forward to that first cool snap of fall soon, it seems that we will be waiting much longer for any such economic relief.

Mark Twain once said, “Everybody talks about the weather but nobody does anything about it”.

That quote sounds very much akin to what’s happening in Washington these days – everybody’s talking about the economy but nobody is really doing anything about it. I have always believed that you have to focus on the things you can control and not spend wasted time and energy on those you can’t. Stirling Properties, I believe, is doing just that.

In the last 7 months, Stirling Properties has achieved significant milestones; the acquisition of the Pan American Life Center – our first office building in New Orleans, and the purchase of 4 multi-family apartment communities in Lafayette and Baton Rouge – a first for that product type.

Additionally, we have several major ground-up developments in the pipeline which should kick off later this year. Ground up development across the country is a rarity these days, but we are actually doing it.

Despite the backdrop of the economic upheaval and uncertainty that has plagued the country, our team has managed to close on over $340 million in financings in the last 3 years – a remarkable accomplishment.

Our state and regional economic development agencies are also focusing on the things they can control and collaboratively have achieved some truly stunning results.

Consider these stats:

• Louisiana – State of the Year (Southern Business & Development)
       – #1 State Workforce Training Program (Business Facilities)
       – Best-Performing State Economic Development Agency (Site Selection)
• Greater New Orleans – 2011 Co-Major Market of Year (Southern Business & Development) 
• New Orleans & Shreveport – Top Cities for IT Job Growth in USA (Forbes) 
• Baton Rouge – Major Market Honorable Mention (Southern Business & Development)
       – “Top 100 Places to Live” in US (Relocate America) 
• Lake Charles – Mid-Market of the Year (Southern Business & Development) 
• Monroe – Small Market of the Year (Southern Business & Development) 
• Lafayette – “Top 100 Places to Live” in US (Relocate America)

These accolades are a testament to the progress that we have made over the last 5 years in Louisiana. With this backdrop of these economic development wins in our region combined with our company’s willingness and ability to adapt to the changing economic climate, I am looking forward to the next five years of new opportunities.

We don’t just talk about the weather – we are doing something about it!