Louisiana Tops Nation for Most Engaged Workers
There is not only a very interesting, but very important article about a Gallup study which was recently published.
Louisiana ranked #1 in the nation for states whose workers were most engaged in their jobs – meaning they are inolved in and enthusiastic about their work. Not only is this a feel-good story, but it also has significant underlying implications for new businesses looking to locate here. Worker satisfaction, engagement, and quality of life tied to the cost of living makes our state a very desirable place to do business. When you add this accolade to the many others that have come out lately, we are definitely a place of the future .
From a personal point of view, I know that our team at Stirling is actively engaged and contributing at the highest levels on all fronts.
Forbes ranks New Orleans #3 for Information Technology Jobs
In a recent Forbes article, “The Cities Winning the Battle for Information Jobs,” author and researcher Joel Kotkin ranks Greater New Orleans as #3 in the USA, behind only technology heavyweights Silicon Valley and San Francisco. In the article, he states “Perhaps the most dramatic player is third-place New Orleans-Metairie-Kenner, where information employment is up 28% since 2009”. The information sector in metro New Orleans “is very broad-based, including companies in digital effects, videogames, software development as well as a burgeoning film and television industry,” writes Kotkin. “The recent decision by General Electric to place its new technology center and its 300 new technology jobs in New Orleans is another sign of the Crescent City’s emergence as a viable information hub.” Additionally, when you consider the recent announcement of IBM in Baton Rouge, it is even more impressive for our super region in general.
Based on the employment growth in the IT sector over the long-term (2001-2012), mid-term (2007-2012) and the last two years, as well as momentum, the Top Ten Tech metros are:
- Silicon Valley
- San Francisco
- New Orleans
- Bostom
- Austin
- Atlanta
- San Antonia
- Raleigh
- Phoenix
- Nashville
You can read the entire article, including more detail on the methodology, here.
IBM – What a Win for Baton Rouge!
IBM‘s recent announcement that they will open an 800-job technology center in downtown Baton Rouge is a HUGE game changer for Baton Rouge, LSU and Louisiana. Along with the new, well-paying, tech-sector jobs that IBM will bring, the state has committed to fund an expansion of LSU’s computer science program, which will help to provide a well-trained workforce. Additionally, a mixed-use building to be developed on the river and occupied by IBM will transform the skyline of downtown Baton Rouge.
This economic win would not have been possible without the hard work and collaboration between the Baton Rouge Area Chamber (BRAC), the City/Parish of East Baton Rouge, Louisiana Economic Development (LED), Louisiana State University, the Baton Rouge Area Foundation (BRAF) and others that played a key role in successfully luring IBM to Baton Rouge.
Read more details in BRAC’s Press Release and LED’s Press Release.
Louisiana Well Positioned for Growth in 2013
As the International Council of Shopping Center’s (ICSC’s) State Director for Louisiana, I recently contributed an article for our Quarterly Membership Newsletter that I’d like to share. Read the article below about how well the State of Louisiana has been performing compared to the nation:
It is hard to believe that 2012 is already more than a month behind us. What an exciting time to be in the real estate industry and more specifically the retail segment of the industry. As we enter into 2013, new retail activity in our state continues to be on the rise and the industry has exciting and prosperous times ahead of us. I do not know anyone in our business locally that is not looking at a full pipeline of activity for the coming year. We should consider ourselves extremely blessed to be working in markets that have performed so well over the past few years.
Consider how well the State of Louisiana has performed over the last few years, in contrast to much of the nation.
Employment performance has been significant. At 5.5%, Louisiana’s December 2012 seasonally-adjusted unemployment rate is at a four-year low, tied for 11th lowest rate in the nation and well below the 7.2% Southern average and 7.8% U.S. average. Louisiana’s private sector added 26,800 jobs over the year, extending the state’s streak of private sector employment gains to 28 consecutive months. Compared to the U.S., Louisiana is one of just six states with more jobs now than before the national recession began; and since the official end of the national recession in June 2009, Louisiana has added jobs at a faster rate than both the South and the U.S.
Louisiana’s population is also growing according to the U.S. Census Bureau, experiencing five straight years of net population in-migration, with more people moving to the state than leaving. Louisiana netted over 20,000 people in the last four years and the in-migration gains are largely the result of the state’s economic performance. Compare that to the 15-year period from 1990 to 2005, when the state experienced net domestic out-migration of more than 7,500 people every single year, and one can quickly appreciate how much things have changed. Also, according to the U.S. Census Bureau, the population growth rate over the last five years through July 1, 2012, was about 23 percent faster in Louisiana than that of the U.S. overall.
Economic competitiveness is reaching new heights. In 2012, Louisiana experienced its best year for business development in the last five years, securing more jobs and investment than in any of the previous four years. The state increased its recruitment of new jobs (up 17 %, to more than 24,000) and its attraction of new capital investment (up 24 %, to $22.3 billion) over the strong performance of 2011. It is incredible that this was achieved against the backdrop of a relatively stagnant U.S. economy. The best is yet to come, according to LED Secretary Stephen Moret. He predicts Louisiana will have at least $50 billion to $60 billion worth of new manufacturing projects under way over the next three to four years, many of which will be announced during the coming 12 to 18 months. In its 2012 economic outlook report, the American Legislative Exchange Council again ranked Louisiana’s economic outlook among that of the top 20 states in the U.S.
Louisiana’s business climate is also improving and people are starting to take notice. In the last five years, Louisiana has improved to its highest-ever position in every major national ranking of state business climates, with no other state exhibiting more improvement. CEOs nationwide voted Louisiana the most improved state for business over the last four years, according to Chief Executive. Louisiana ranked 7th in Site Selection’s business climate report in 2012 and 2011, up from 9th in 2010 and 25th in 2009. Area Development ranked Louisiana #6 among the top states for doing business, ranking #1 in the U.S. for cooperative state government and top 5 for incentives, economic recovery, speed of permitting, workforce training, cost of doing business, business climate and labor climate. Business Facilities ranked Louisiana #5 best business climate in America and Pollina Corporate Real Estate ranked Louisiana’s business climate #16 in 2012, up 24 spots since 2008. Additionally in 2012, the state ranked 2nd in the U.S. (1st in the south) for providing the lowest business tax burden for new firms and 10th in the U.S. (3rd in the south) for mature firms, according to the Tax Foundation.
Significant employment performance, population growth, strong economic competitiveness, and a nationally recognized, improving business climate in Louisiana has well positioned the state as the nation seeks sustained growth in 2013. All of this is good news for retail. And good news for us.
East Coast, West Coast…Emergence of the Third Coast
I wanted to share this recently published article, “The Rise of the Third Coast,” by Joel Kotkin, an internationally-recognized researcher and author on global, economic, political and social trends. In the piece, Kotkin describes the “Third Coast,” in large part driven by a “resurgent New Orleans” region, as “one of the major forces in twenty-first-century America.”
One quote in this article that is particularly striking to me is regarding the education system:
In a new report, government efficiency expert David Osborne describes New Orleans’s reforms as a “breakthrough.” The results, he says, are “spectacular: test scores, graduation rates, college-going rates, and public approval have more than doubled in five years.” He adds, “I believe this is the single most important experiment in American education today.”
Louisiana Continues to Leap Forward in All Areas
Leading economic development magazine Area Development has just released its 2012 “Top States for Doing Business” survey of national site selectors, and Louisiana has posted its best showing ever:
- #1 in Cooperative State Government
- #2 in Incentives Programs
- #2 in Economic Recovery
- #3 in Leading Workforce Development Programs
- #3 in Speed of Permitting
- #4 in Overall Business Environment
- #4 in Cost of Doing Business
- #5 in Labor Climate
- #6 Top State for Doing Business
This is a remarkable set of top-10 votes for Louisiana from national economic development consultants; you can see the full report here.
These latest rankings are just another example of what we see happening all around us. Louisiana continues to leap forward in all areas – jobs, economic development, business climate, entrepreneurship, etc. As I tell people around the country the “Louisiana Story”, their reactions are somewhere between amazement and skepticism. I can tell some of them flatly don’t believe a word I am saying.
That is what makes telling the story even more remarkable.
