Pollina Corporate Real Estate Inc. has ranked Louisiana second in the nation for its economic development efforts. Pollina ranked the state 18th in its overall list of pro-business states, considering such factors as business taxes, workforce training programs, workers’ compensation costs, energy costs and marketing programs. The company also considers economic development incentives, efforts and performance, for which Louisiana ranks No. 2.
The rankings continue the state’s recent upward trajectory with respect to economic development. In the pro-business rankings, Louisiana moved from No. 40 in 2008 to No. 27 in 2009 and No. 20 in 2010. In 2010, Louisiana ranked 10th in economic development. Last year, Pollina granted the state its inaugural Most-Improved State designation.
Louisiana Economic Development attributes the year-over-year improvement to the creation or upgrade of such programs as its business expansion and retention group, the Digital Interactive Media and Software incentive, the launch of Louisiana FastStart, and improved perceptions among consultants and corporate executives.
Pollina scored the states in two stages: Stage I evaluates labor, taxes, education and several other factors; Stage II evaluates incentive programs, including those for existing or expanding businesses and for small businesses; and the performance of state economic development agencies. Virginia ranks No. 1 in the 2011 study; California is last.
