Louisiana’s budget crisis threatens to cripple years of growth and diversification in the state’s private sector while also derailing recent improvements made in higher education. That was the shared assessment of the three guest speakers at Business Report’s annual Leadership Power Breakfast, held earlier this morning at the Crowne Plaza.
Louisiana Association of Business and Industry President Stephen Waguespack, LSU President F. King Alexander and Louisiana Chemical Association President Dan Borné each began their presentations touting the positive developments made in Louisiana over the past two decades, particularly with respect to the economy and the performance of students. But a state budget shortfall estimated to exceed $1.6 billion and proposed cuts to higher education of more than $360 million threaten to undo all that good news, they said.
“Louisiana has a record-breaking number of workers … the private sector is on the verge of sustainable growth, and we lead the nation in manufacturing growth,” Waguespack told the audience of nearly 500 local business leaders. “The question is where do we go from here? Can we sustain the growth?”
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