Local industry alliance survey says spending, hiring to increase
A recent survey of 34 members of the Greater Baton Rouge Industry Alliance shows they expect spending and hiring to increase in the next six months at their plants. The current GBRIA index result is 79, up three points from where it was during the first quarter of the year. The survey is a forward-looking index similar to one reported by the CEO's of The Business Roundtable. The index is centered on 50 and ranges from negative 50 to 150. Values over 50 predict an expanding economy; values below 50, a contracting economy. "So with a value of 79, this means that plants are beginning to grow," says GBRIA Executive Director Connie Fabre. The survey shows a 9% increase in expected capital expenditures and an 11% increase in hiring expectations by the responding companies as well as a 7% increase in the hiring of contract employees. Fabre says the survey is significant because plants in the alliance account for about 40% of all jobs in the Capital Region. The association represents more than 53 petrochemical, energy, paper, pharmaceutical, storage terminal and other industrial facilities located across eight parishes in the Baton Rouge area. Plant managers of 34 sites, or 64% of its members, weighed in on the survey, which was conducted between April 3 and April 20. You can download the complete survey results here.
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