Efforts are underway in Terrebonne Parish to diversify the Houma-Thibodaux economy and make the area less reliant on oil and gas, The Courier reports.
The Terrebonne Economic Development Authority recently launched a five-year plan—based on a $70,000 study—that seeks to strengthen the parish’s economy by diversifying from its bedrock oil industry.
“As good as the oil and gas business has been we know there are boom-and-bust cycles,” says Matt Rookard, TEDA’s chief executive officer. “The economy needs to be robust and be able to deal with the ups and downs of the oil and gas sector.”
Non-oil sectors like transportation and warehousing are already experiencing growth, he says, but more needs to be done.
“This is not something that’s going to happen overnight or even over a course of three years,” Rookard tells The Courier. “You have to continuously chip away and think differently about the opportunities before us. I think we’ve made significant progress and have some projects in the works.”