Baton Rouge’s job market will grow in 2010 and 2011, but that growth might be stymied by state government cuts and cap-and-trade legislation, economist Loren Scott told a crowd at the Business Report’s Top 100 Luncheon today. Scott says the Baton Rouge region will grow by 4,000 jobs, or 1.1%, in 2010 and add an additional 5,500 jobs, or 1.5%, in 2011 that will make it the third fastest-growing metro area in the state driven primarily by the construction industry. However, state cuts due to an almost $1 billion budget shortfall will heavily impact the Capital Region, because they will almost certainly result in job losses in both state government and higher education. Baton Rouge also has a large petrochemical base that is facing large increases in cost should the American Clean Energy and Security Act, otherwise known as cap-and-trade, pass. Scott says the cost of the current legislation to the ExxonMobil Refinery, a 503,000-barrel unit, would be $1.65 billion per year.
The other metro areas in the state have mixed economic forecasts. For the full story, click here. The luncheon was the centerpiece of events at the BizTech Expo today; Thursday features a Louisiana CEO Forum at 8:15 a.m. at the Baton Rouge River Center. The BizTech Expo runs from 10 a.m. to 3 p.m. Thursday.—Emma James
