Key takeaways from BRAC’s annual economic dashboard

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    The Baton Rouge Area Chamber on Tuesday released an update to its Progress by the Numbers dashboard, which tracks over 50 measures of the Capital Region’s economic vitality.

    The metrics tracked by the dashboard are often used to understand the economic successes and shortcomings of a region and are outlined in BRAC’s five-year strategic plan.

    Here are some of the major takeaways from the newly updated dashboard:

    • 2022 was a record-setting year for research and development investments at Capital Region higher education institutions. Investments totaled $356 million—a 15.6% jump from the year prior.
    • Third-grade English LEAP test scores showed significant improvement in 10 of 12 districts.
    • The number of employees working at minority-owned businesses increased by 8%.
    • Average commute time has decreased by over a minute post-pandemic.
    • Median household income grew by more than 10% between 2021 and 2022.
    • The poverty rate fell from 17% in 2021 to 15.7% in 2022.
    • Activity at the Baton Rouge Metropolitan Airport has returned to about 93% of pre-pandemic levels.
    • The share of residents who have earned a bachelor’s degree has for the first time surpassed 30%.
    • The number of internships advertised on Handshake nearly doubled between 2022 and 2023.
    • Women continue to earn 72 cents for every $1 earned by men, despite progress.
    • People age 25 to 44 and those with four-year degrees moved out of the Capital Region at a record-setting pace in 2022.
    • Business applications declined by 21% between 2021 and 2022, though they are still 50% higher than they were in 2019.