Still regaining their economic footing following the height of COVID-19 safety restrictions, Capital Region businesses are now dealing with inflation and the possibility of a recession.
The Baton Rouge economy wasn’t especially hot prior to the pandemic and its key private employment sectors (industry, real estate, retail and hospitality) are especially impacted by rising prices, supply shortages, higher interest rates and global ramifications from sanctions against Russia.
“It’s a headwind that’s going to become more problematic,” says Evan Scroggs with NAI/Latter & Blum. “I think there’s going to be a recalibration of sorts, in terms of value and underwriting and what it takes for projects to make sense economically.”
Business owners should be cautious as they plan for the immediate future.
“Now’s probably not the right time for making venturesome investments,” says Jude Melville, CEO of b1BANK.
Read the full Big Story feature from the latest edition of Business Report, which details specifically how each Baton Rouge employment sector is impacted by soaring prices and interest rates.
