Louisiana is (almost) the best in the South when it comes to economic development—and Baton Rouge is earning some recognition, as well.
Southern Business & Development magazine ranked Louisiana No. 2 in the South for having the strongest economic development results during 2017, according to an LED press release, based on the state’s share of leading capital investment and job creation projects.
In the magazine’s annual 100 Top Deals & Hot Markets report, states earned points for employment projects that created at least 200 jobs, as well as for large capital investment projects worth at least $30 million. For projects like DXC Technology’s Digital Transformation Center in New Orleans (which will create 2,000 jobs) and Lotte Chemical’s $1.1 billion MEG plant and headquarters in Lake Charles, Louisiana scored 77.1 points per million, trailing behind No. 1 Kentucky (96.5) and ahead of No. 3 South Carolina (63.0) and No. 4 Alabama (61.2).
In addition to the state’s performance, Baton Rouge earned honorable mention recognition in the 2018 major markets category, which ranks performance for metro areas with populations ranging from 750,000 to 2.5 million. Louisiana’s capital city earned 90 points in the category, finishing behind Louisville and Nashville, each accumulating 105 points.
For the eighth year in a row, Lake Charles won the publication’s designation for Small Market of the Year, with 80 points. Its nearest competition was Tennessee’s Jackson-Humboldt region, with 40 points.
