Louisiana: Business in the Bayou State
Traditional and emerging industries are growing in Louisiana. A highly productive and motivated workforce, low taxes, unrivaled infrastructure and logistics, a pro-business stance, comprehensive recruitment and training programs provide the state with a competitive advantage. In Louisiana, nicknamed both the Bayou State and the Pelican State, the welcoming business mentality is paired with southern hospitality and genteel charm.
The state’s economic policies are supporting a healthy and well-educated workforce that will create a sustainable future and attract future business investments. In particular, in recent years, Louisiana has advanced its international commerce initiatives, and placed greater emphasis on science, research and technology. These steps will also trigger and benefit the next generation of German investment, workforce training and innovation in the state.
The southern state boasts with many factors that attract national and international companies and entrepreneurs. In 2012, international trade supported an estimated 522,000 jobs in Louisiana and generated $44.2 billion in goods exports (U.S. Department of Commerce). In 2013, Louisiana enjoyed the best business development year so far (Louisiana Economic Development 2014). U.S. subsidiaries of global companies play a vital role in Louisiana’s economy. More than 32 percent of jobs at U.S. subsidiaries in Louisiana are in the manufacturing industry - accounting for 18,600 jobs.
Louisiana is well situated for both inbound and outbound logistics. The state is home to six interstate highways and railroads, six deep-water ports, and seven primary airports. The Intracoastal Waterway leading to the Gulf of Mexico is perhaps the most important means of transporting commercial goods such as petroleum and petroleum products, agricultural produce, building materials and manufactured goods. And, Louisiana is one of only two states in the country where all six of North America’s class one railroads converge.
The state’s capital, Baton Rouge, has generated much of Louisiana’s business in fields such as technology, IT & software development and petrochemical industries. Also, the entertainment industry has been thriving in Louisiana; and incentives in digital media, live performance, motion picture and sound propel a billion-dollar industry in the state. New Orleans, the state’s largest and most cosmopolitan city is a major hub for tourism, trade and international companies.
From entrepreneurial startups to small business growth and expansion, Louisiana offers a comprehensive array of educational, managerial and financial programs that cultivate small business opportunities.