From nearly dead last to the middle of the pack. That’s the jump on Forbes’ Best States for Business ranking that Louisiana Economic Development and Gov. Bobby Jindal are touting for Louisiana, which is ranked no. 29 on this year’s list. In 2008, Louisiana was ranked No. 49. The state jumped 11 spots from last year’s ranking.
“The biggest gainer this year is Louisiana, which rises to No. 29 from No. 40,” writes Kurt Badenhausen in the 2014 Forbes report. “Louisiana has made great strides since Hurricanes Rita and Katrina hit in 2005. Income and economic growth are among the best in the U.S. over the last five years. Lower business costs and an improved economic outlook also pushed up the Bayou State.”
In a prepared statement, Jindal says the advances the state has made not only on the Forbes ranking but also on a number of others—including Site Selection, which recently ranked Louisiana No. 2 in the nation for its business climate, also the highest the state has ever placed on that list—speak for themselves.
“Through smart reforms to make Louisiana more competitive, we’ve attracted economic development projects that are creating more than $54 billion in new capital investment and more than 83,000 new jobs,” Jindal says in the statement. “We’ve positioned Louisiana for a brighter future, and we’re cultivating historic job and career opportunities like no previous generation in our state has ever seen.”
Jindal notes that Louisiana’s rise in the Forbes ranking stems from several gains in the various categories that make up the overall ranking. Since 2008, Louisiana has risen 16 spots to No. 6 in the business costs category. Its ranking for regulatory environment has risen 15 spots to No. 26, and its economic climate ranking has risen 28 spots to No. 15. The state’s worst category ranking remains quality of life, where it is No. 49. See the complete rankings. —Steve Sanoski
