Some promising news for Louisiana’s economy broke this week, as a poll conducted by Chief Executive magazine shows that Louisiana is the 13th best state for business. Last year, Louisiana ranked 27th in the same poll, making our state’s leap in the rankings the highest in the nation. The survey was conducted nationwide and polled CEOs on topics including living environment, tax structure, regulatory environment and workforce quality.
The excellent ranking this year is drawing quite a bit of attention, and Governor Bobby Jindal was quick to take credit for his attempts at encouraging aggressive pro-growth business law to attract new growth and industry. Among the governor’s initiatives is the creation of strong workforce training and education programs. According to the Chief Executive report, these efforts seem to be paying off, as CEOs commented specifically on the workforce training initiatives and economic incentives Louisiana has excelled in over the last couple of years.
Chief Executive isn’t the only publication taking notice of Louisiana’s strides to become business-friendly. Other national magazines, including Site Selection and Area Development have ranked the business climate in Louisiana in the top 10 nationwide.
Growth and expansion are absolutely critical to the Baton Rouge economy as Louisiana looks to diversify itself into a national business powerhouse. As new industries spring up or relocate to take advantage of Louisiana’s business-friendly climate, the amount of questions concerning business litigation, construction, mergers and acquisitions, and employment law will increase accordingly.
Louisiana has made great strides over the past year, and the business community is excited about the national attention it is receiving. Keeping a progressive and vigilant outlook will be critical if the hard-earned economic growth in the area is to continue.
Source: KLFY, “Louisiana Reaches Highest Rank Ever in CEO Survey,” May 2, 2012
