Louisiana Economic Development has been ranked as the country’s best state economic development agency by Site Selection magazine. This comes one year after the agency broke into the Site Selection top 10 ranking. “We are delighted to receive this recognition for our efforts, yet we know we have a lot of work left to do to position Louisiana’s economy to outperform the South and U.S. on a regular basis,” says Stephen Moret, LED secretary. The rankings are determined by 10 factors, including new and expanded facilities, total capital investment and new jobs created. LED beat out the Virginia Economic Development Partnership for the top spot.
LED was propelled to the top spot in part because of the Nucor project, which was named as one of the top deals of 2010. The iron and steel project could create 1,250 jobs and $3.4 billion in capital investment in St. James Parish. The Baton Rouge Area Chamber and the Southwest Louisiana Economic Development Alliance made Site Selection‘s list of the top regional/local economic development partnerships, while Greater New Orleans Inc. earned an honorable mention.