“Remember the giddiness around here when the efforts of former Louisiana head of economic development Stephen Moret and a cast of dozens brought IBM to downtown Baton Rouge?” asks Business Report Executive Editor JR Ball in his latest column.
Well, multiply that excitement by a factor of at least 32—as in 800 average-paying tech jobs compared to 25,000 high-paying tech jobs—to get a handle on the euphoria being felt in the semi-suburbs of Washington, D.C. after Amazon announced its split decision between Northern Virginia and Queens, New York.
In the end, Amazon didn’t pick Northern Virginia because of tax breaks and subsidies (other cities offered far greater rewards), it’s going there for a simple reason: A remarkable abundance of employment-ready tech talent. In fact, Ball notes, that region has more tech-STEM workers than the entire population of East Baton Rouge Parish.
Another key factor: Virginia’s decision to invest more than $1 billion in new higher education spending—including a new Virginia Tech innovation center to be built near Amazon’s campus. Compare that to Louisiana, Ball writes, where finding $390 million to keep TOPS afloat if proving problematic.
Given the reality of the situation, it’s time for Baton Rouge to get realistic about its economic development endeavors, focusing on areas where it has a realistic chance—like the medical sector. Read the full column and send comments to editor@businessreport.com
