After more than 30 years serving on the Louisiana Revenue Estimating Conference, LSU economist Jim Richardson announced during today’s meeting he’s leaving his longtime role as the panel’s private economist once a replacement is found.
“I think my experience has been really fantastic. I’ve worked with a lot of different House speakers, governors and Senate presidents, and we’ve always worked together cordially and decisively,” Richardson tells Daily Report. “I’ll still be at LSU, but it’s time to move on.”
The REC is the four-person panel tasked with approving the state’s revenue projections. Members include the Senate president, House speaker, commissioner of administration and Richardson, who has belonged to the panel since its first meeting in 1987.
As mandated under state law, the Board of Regents will, for the first time, recommend the next economist, with the final selection ultimately up to the governor, House speaker and Senate president.
“We are deeply grateful that Dr. Jim Richardson combined his professional experience and impartiality in unwavering service to our state,” says Commissioner of Higher Education Kim Hunter Reed in a prepared statement. “He is the gold standard and we have our work cut out for us in finding a slate of candidates that can carry on his legacy of service.”
In the coming days, Reed will consult with the Board of Regents and other public and private higher education officials to finalize a process for soliciting and vetting candidates for the position. After consulting with Stanton McNeely, president of the Louisiana Association of Independent Colleges and Universities, the board will submit a final list of three to five candidates with revenue forecasting experience.
The board is expected to send its list of nominees by March.
