Location Focus Archives

Louisiana to Site Seekers: What Recession?

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Louisiana’s economy and job creation have been outpacing the nation throughout the past two years. Come see how this Southern state can boost your business. Louisiana is bucking the national recession by having an economy that currently is outperforming both the South and the nation. Unemployment rates in 2009, according to Louisiana Economic Development (LED) officials, was down about one percent since January 2008, bringing it to 6.7 percent as compared to the national average of 10 percent. The year 2009 saw expansions and relocations that resulted in more than 21,000 new jobs, $2.5 billion in new capital investment and $53 million per year in new state tax revenues. “Our aggressive focus on preserving our existing jobs and attracting new jobs is resulting in increases in our national rankings, improvements in our business climate, population in-migration and most importantly more good job opportunities for our people,” Gov. Bobby Jindal says. In fact, Louisiana tied for third among all U.S. states in Gallup’s Job Creation Index for 2009. According to Moody’s Economy Adversity Index, New Orleans, Lafayette and Lake Charles have emerged from the recession. “There is no longer a placeholder for Louisiana at the bottom of the major economic and business climate rankings,” says Louisiana Economic Development Secretary Stephen Moret. “The positive national recognition Louisiana has received since 2008 is a strong indicator that our economy has performed better than the South and U.S. during the recession. This consistent recognition also demonstrates that we are taking the right steps to grow our economy, create better job opportunities and position our state for long-term economic growth.” But the governor and the state’s economic development officials aren’t resting on their laurels, in fact, in April, Gov. Jindal laid out the Louisiana Way Forward. “The Louisiana Way Forward means that during these tough economic times, we’re pursuing reforms and efficiencies that make government do more with less. Families and business across Louisiana are tightening their belts and we’re doing the same for state government,” says Gov. Jindal. “The Louisiana Way Forward will create a more accountable state government so that even when our revenues grow back, we will not simply restore funding to the status quo, but instead, we’ll make investments that produce results.” The Way Forward includes further developing LED’s recently launched priority initiatives, including: • The Louisiana FastStart program—building on the expertise of national-caliber corporate training experts recruited from around the country, Louisiana FastStart is a first-class workforce solutions provider executing more than a dozen pilot projects—more than 11,000 hours of… …Read More…

Workforce Development Programs Transform the Empire State

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Governor David Paterson’s Excelsior Jobs Program is just one of several new initiatives the state is taking on to increase job growth and attract new business. New York State offers unparalleled resources including a diverse economy, a highly skilled and talented workforce, and outstanding academic and research centers. Innovative industries and technologies make New York a great place to do business. To further enhance the state’s business status, Gov. David Paterson in January kicked off a statewide workforce development initiative by directing Empire State Development (ESD) Chairman and CEO Dennis M. Mullen and Department of Labor (DOL) Commissioner M. Patricia Smith to work with businesses across New York on how they can take advantage of New York’s business development programs. “Providing New York’s businesses with the necessary tools and assistance they need to develop our state’s workforce is critical during these difficult economic times,” says Gov. Paterson. “By directing Chairman Mullen and Commissioner Smith to make sure businesses are aware of New York’s valuable services, our communities can work to develop the economy, get businesses hiring again and put people back to work.” The four-city, two-day tour kicked-off in Saratoga and made stops in Syracuse, Binghamton and Rochester. The tour promoted tax incentives, free recruitment and human resources expertise, and innovative marketing services that could save New York State businesses thousands of dollars every year. “Over the course of the past nine months, we have worked hard to create a cross-cutting strategy for New York State that reflects a thoughtful, multi-market approach to economic development,” says Mullen. “After hearing from business executives, university leadership and representatives of regional economic development organizations across the state, our senior team worked together to develop three powerful economic development initiatives. Governor Paterson announced the proposed programs in his Executive Budget. The Excelsior Jobs Program, the Small Business Revolving Loan Fund, and the New Technology Seed Fund are specifically targeted towards our economic development goals; if enacted these programs will have a transformational impact on job growth in New York State. They are strategically targeted, fiscally responsible and results driven. When combined with our existing grants and loans programs, these initiatives will put us in a solid competitive position to realize meaningful, long-term growth and renewed prosperity in New York State.” According to ESD, the Excelsior Jobs Program is the centerpiece of the most innovative job creation agenda in the history of New York. The program proposes three aggressive incentives for companies in targeted growth industries, which create and maintain at least 50 new jobs… …Read More…

Florida: Creating a Bright and Innovative Future

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Governor Charlie Crist focuses on Florida’s unique strengths by creating special incentives for the space industry, biotechnology and other innovation growth sectors. As part of his ongoing focus on growing Florida’s economy through job retention and creation, workforce training and economic development, Governor Charlie Crist highlighted his proposed economic budget strategies at the “Florida’s Future Summit” in February. The summit emphasized the importance of increasing South Florida’s focus on economic drivers such as workforce, innovation, infrastructure, global competitiveness, quality of life, and streamlined civic and government systems. “My focus continues to be on strengthening Florida’s economy and creating jobs for the people of our state,” says Gov. Crist. “The talent of our workforce is the formula to Florida’s economic success, and I am committed to building a workforce ready to step into the innovation, knowledge-based economy of the 21st century.” During his remarks, Gov. Crist highlighted his commitment to growing the state’s innovation economy, ensuring a competitive business climate, building a world-class workforce, and establishing Florida as a pre-eminent global trade hub. He also reiterated his economic budget priorities, which include $307.5-million for targeted economic development initiatives and incentives to help increase Florida’s competitiveness in key business sectors, including digital media and information technology, aviation and aerospace, defense, biotechnology, tourism, sports, and film and entertainment through the Governor’s Office of Tourism, Trade and Economic Development (OTTED). “Collaboration among Florida’s talent supply chain, which includes educators and business leaders like the Florida Chamber of Commerce, is crucial for the prosperity of tomorrow’s knowledge-based economy,” says Gov. Crist. “While we focus on attracting innovative companies to our state, we must also continue to prioritize local business needs like tax relief and the development of our workforce.” Recently, Gov. Crist also proposed additional strategies for growing jobs, businesses and economic opportunities through $100 million in tax relief to families and businesses. Gov. Crist recommended a $9.7-billion investment in economic development, which includes infrastructure, workforce development and incentives for small businesses. The Florida governor also recommended continued investments to assist individuals, businesses and communities as the state’s economy recovers. “The successes we are seeing in Florida’s biotechnology business hub show us that we must continue our efforts to attract and retain companies in Florida’s innovation sectors,” Gov. Crist says. “Florida’s business friendliness, talented workforce, beautiful environment and pleasant climate make the Sunshine State an excellent location for companies seeking to grow economic opportunities.” Highlights of the governor’s planned incentives needed to build Florida’s innovation economy include the following: • Space Florida, $32.6 million—In response… …Read More…