The Capital Region’s industrial construction companies are some of the best in the world and are in high demand nationwide, which is a benefit for south Louisiana’s economy, says Baton Rouge Area Chamber CEO Adam Knapp.
According to 10/12 Industry Report, Knapp says that when a local company does business outside the region or state, they bring new wealth home.
For example, in a given year, The Newtron Group generally does between 25% and 50% of its work outside the state, says John Schempf, the company’s president. While its headquarters is in Baton Rouge, Newtron also has offices in Texas and California.
But ideally, officials would like companies to also have lots of work close to home.
David Helveston, CEO of Associated Builders and Contractors-Pelican Chapter, says he has been frustrated to see so many member companies chasing work in Texas where the business climate is more conducive to growth.
Since Gov. John Bel Edwards changed the ITEP program in 2016, allowing local taxing authorities a say in whether the benefit will be awarded, “we have seen that pipeline of potential projects has really dried up.”
