Though its industrial expansion projects anchor Louisiana’s economy, southwest Louisiana should continue to diversify its economy, the state’s economic development chief says.
Louisiana Economic Development Secretary Don Pierson tells The American Press editorial board there is room for Lake Charles to expand its economy into sectors like health care, aviation, tourism and petrochemical.
“Those are a number of areas that I think are sort of your fundamentals, that you keep strong and grow more,” he says.
Louisiana’s fiscal challenges—including the projected $1.3 billion deficit for the upcoming fiscal year—has caused a 10% reduction in LED personnel, Pierson adds. But the state is in better financial shape than others like Illinois or California.
“The reality is, we balance our books every year,” he says. “We run a really tight ship. So, in other ways, I think that’s some comfort to businesses.”
However, Pierson says, Louisiana needs resources “to have a stable fiscal environment” in order to improve infrastructure. For example, the viability of the Port of Lake Charles could be threatened if the Calcasieu Ship Channel isn’t dredged to its federally authorized dimensions.
“The port is a major economic driver for this region,” he says. “Certainly the opportunity with all this LNG investment will lead us to more ship traffic coming and going.”
