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 today at Business Report’s Top 100 Luncheon at the River Center.
Scott says the Baton Rouge region will grow by 4,000 jobs, or 1.1%, in 2010 and add 5,500 jobs, or 1.5%, in 2011, making it the third fastest-growing metro area in the state—driven primarily by the construction industry. State cuts caused by an almost $1 billion budget shortfall will heavily impact the Capital Region, however, because they will almost certainly result in job losses in state government and higher education. Baton Rouge also has a large petrochemical base that is facing large increases in costs should the American Clean Energy and Security Act, or cap-and-trade, pass. Scott says the cost of the legislation to the ExxonMobil refinery, a 503,000-barrel unit, would be $1.65 billion per year.
He says 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 River Center. The BizTech Expo runs from 10 a.m. to 3 p.m. Thursday.—Emma James
