Regional Economic Overview
Central Louisiana (Cenla) is an ideally located transportation hub with excellent interstate highway, river, rail and air cargo capabilities in place. Further, fiber optic connections are available from several companies throughout Central Louisiana. The economic surge and diversity over the past ten years has been phenomenal.
In fact, the Milken Institute’s most recent report indicates positive growth for the hub of Alexandria as it moved up 20 spots in the Small Metro Rankings to number 46.
An ever-enlarging workforce, drawn directly from Central Louisiana parishes, is experiencing low unemployment rates, with all indications of relatively full employment in a diversifying local economy.
In the past year the Alexandria MSA growth rate in the manufacturing sector was the largest of any major metro area in Louisiana with a growth rate of 5.4%. Recent company announcements and expansions anticipate over 1500 job openings in the year 2005 alone, most in manufacturing.Echoing the pattern of the last several years, varying degrees of steady growth are expected in the sales tax, vehicle tax, home and commercial construction areas. The influx of new and expanding employment opportunities should hold employment at historic high and the unemployment rate at historic low levels.
The Cost of Living Index for the Alexandria/Pineville MSA, as determined by the American Chamber of Commerce Researchers Association has historically remained at approximately 93% of the national average. Business Outlook Magazine listed Alexandria number 7 in its most affordable cities list in their January/February 2005 issue.
The following broad categories of economic activity more dramatically reflect the lengthening strides of this community’s forward movement.
Ongoing Events
Increasing commercial air traffic at Alexandria International Airport (England AirPark). Continental and Delta are offering commuter jet service with connections to Houston and Atlanta, while Northwest still offers propeller service connecting to Memphis.
$39 Million new passenger terminal at England AirPark, construction began 2004, opening 2006.
$270 Million in projects for Fort Polk in Leesville (Vernon Parish), LA. An additional $64 Million in housing construction projects is also taking place at Fort Polk.
Deployment of last mile fiber optic cable and other high-speed telecommunication capabilities throughout the region.
Widening and improvements to area highways notably LA 28 West and U.S. Highways 165 and 171 at estimated $167.8 Million. Additional $435.6 Million to be spent in future years on Highways 165, 167 and 171.
SIGNIFICANT UPCOMING ACTIVITIES
New Industrial Park - 111 acres presently in the infrastructure design and engineer phase.
Construction of new $185 Million OSB manufacturing facility for Roy O. Martin Lumber in Allen Parish, along with a new $38.5 Million dry veneer lumber plant adjacent to their existing facility at Chopin.
Beginning of production at Plastipak, Calvary Industries and Integrated Packing in support of the Procter & Gamble Liquid Line, with all companies continue staffing throughout 2005.
Construction of a new manufacturing facility for Union Tank Car Company. The $100 Million dollar investment was announced in June 2004. The facility will employ 850 persons when fully operational .
