Jul 24

Written by:
7/24/2012 7:37 AM 

Central Louisiana Chamber of Commerce, Alexandria, Louisiana, July 24, 2012 -- Business Facilities magazine just ranked Louisiana the No. 1 state with Economic Growth Potential in its 2012 State Rankings Report.

"With a diverse and well-executed economic development strategy, a workforce training program that sets the standard for the nation and a full menu of innovative incentives, Louisiana is marching forward on a path to prosperity and growth," said Business Facilities Editor in Chief Jack Rogers.

Louisiana moved into the top slot in Business Facilities coveted Economic Growth Potential ranking after finishing a close second in 2011.  Rogers also noted that the Bayou State moved into fifth place in Business Facilities' Best Business Climate ranking, up from seventh last year.

"Business climate and growth potential go hand in hand," Rogers said.  "Louisiana has made it clear to businesses looking to expand, relocate or establish new facilities that it is well prepared to meet their needs."

Louisiana has buttressed its traditional industries, including natural gas and steel production, with an aggressive strategy that has successfully established new growth sectors in the state, including a red-hot digital media industry which boasts cutting-edge studios in New Orleans and Shreveport.

For its Economic Growth Potential ranking, Business Facilities considers state business climate, availability of skilled workforce, incentives and education climate, among other criteria.  It also evaluates the state's economic development strategy, giving extra credit for diversity of new growth sectors and coordination between business, higher education and government agencies.  The potential of primary industries to generate secondary relocation/new facilities and indirect jobs also is considered.