How many people work here? How many businesses are in the area? How much do we pay in taxes? Here’s a snapshot of some of the Capital Region’s economic and business climate indicators.
Baton Rouge MSA unemployment rate, January 2015: 6.3%
BRAC’s “peer cities” average unemployment rate, January 2015: 5.8%
National unemployment rate, January 2015: 5.7%
Sources: Baton Rouge Area Chamber, U.S. Bureau of Labor Statistics
No. 2: Louisiana’s ranking on Site Selection’s 2014 Top U.S. Business Climates
28,500: Number of private sector jobs added in Louisiana, November 2013-November 2014 (Source: Louisiana Economic Development)
$16 billion: Amount of new investment associated with projects worked by state and regional economic development officials announced in 2014 (Source: LED)
Baton Rouge-area banking statistics:
Number of FDIC-insured institutions in the market, 2014: 39
Total deposits: $18.7 billion
Source: FDIC
Louisiana taxes
Corporate income tax: 4% on first $25,000 of net income, 5% on next $25,000, 6% on the next $50,000, 7% on the next $100,000, and 8% on the excess over $200,000
Individual income tax: 2% on first $12,500; 4% on the next $37,500; 6% on amount over $50,000
State sales tax: 4%
Combined state and Baton Rouge sales tax: 9%
Sources: Louisiana Department of Revenue, East Baton Rouge Parish government
Business tax climate rankings for Louisiana by the conservative Tax Foundation for 2015:
Overall rank: 35
Corporate: 23
Individual income: 27
Sales: 50
Unemployment insurance: 6
Property: 24
Total nonfarm employment, Capital Region
January 2015: 394,800 (not seasonally adjusted)
Source: Louisiana Workforce Commission
Average nonfarm employment, Capital Region
2010: 364,200
2011: 369,300
2012: 375,000
2013: 384,900
2014: 393,100
Source: Baton Rouge Area Chamber
Total number of businesses, Capital Region
2009: 62,492
2013: 68,718
Increase, 2009-2013: 6,226
Average annual rate of increase: 2.5%
Source: Baton Rouge Area Chamber
Real estate trends, East Baton Rouge, Ascension and Livingston parishes, 2013-2014
Homes sold: +1.9%
Average home sales price: +3.7%
Permitting trends, East Baton Rouge Parish, Q3 2013 to Q3 2014
Residential: +11%
Commercial: -14%
Source: Baton Rouge Area Chamber
