Texas is one of the most active states in terms of both new and expanded project announcements and Louisiana’s 547 projects falls short to Texas’ 3465. However, Louisiana performs better than neighboring states like Oklahoma, Arkansas and Mississippi. TX – 3465; FL – 1196; AL – 1096; LA – 547; MS – 427; OK – 289; AR 165
Among the 550 projects recorded by Conway between 2003 and 2009, a vast majority of them were located in just three parishes (East Baton Rouge – 50, Orleans – 50, Caddo 46). These three parishes represented around a quarter of the project that happened in the state. More companies go to Southern Louisiana than the Northern side of the state.
New and Expansion Projects spiked in 2005, probably because of the post-hurricane restructuring activity. 2009 was a relatively good year of the state as both new and expansion project spiked up dramatically after the lows of 2008.
A record number of jobs were created in the State by new projects announced in 2009.
Job creation due to new projects in the NLEP region mirrors trend in the state of Louisiana fairly closely. A record number of new jobs were announced 2009 (2100 jobs), which includes the announcement by V-Vehicles to build an assembly plant in Monroe, LA. The announcement is supposed to create 1,400 jobs in the area.
Of the 10 new project listed by Conway in the 14 parish region, three were start-up projects and one company was already in the region. Two projects came from Texas, and one each came from Alabama, Michigan, Ohio and Washington. 3 new projects were in the service sector; 3 were in the Oil & Gas sector; 2 in the Automotive sector and 2 in the Metal Fabrication sector.
We identified 223 companies in the 14-parish NLEP region that have at least 10 employees and have grown by over 25% in the last four years. As you can see in the map above, most of these companies are located in and Shreveport. In fact 100 companies are located in Shreveport and 36 are located in Bossier City. Between 2005 and 2009, total employment level of these companies increased from 7,054 to 16,327 increasing by 130% or creating over 8,000 new jobs.
Most of the high growth companies are stage 2 companies, as defined by the Edward Lowe Foundation (companies with 10 to 99 employees). In terms of jobs Stage 4 companies, with more than 500 employees, represent about the 45% of the employment at these high growth companies.
Of the 223 firms, here is the spread of public vs. private; subsidiaries vs. non-subsidiaries; and single vs. headquarters. Of the 5 subsidiary companies, 4 were subs of parents companies located within Louisiana, while one firm’s parent company was based in Denmark. This info goes to show that NLEP is “growing their own.”
We identified 137 companies that were founded after 2000 in the 14-parish NLEP region. Most of the new establishments were located in Caddo (59) and Bossier (33) parishes. However, Lincoln (10) and Natchitoches (8) parishes also saw a appreciable number of new establishments.
NLEP - Growing Your Own
Growing Your Own <ul><li>Presented by: Dean F. Whittaker </li></ul><ul><li>President/CEO Whittaker Associates, Inc. </li></ul>
New Projects Announced in the NLEP region in 2009 Source: Conway Data, 2010 COMPANY CITY STATE PARISH PRODUCT HQ_STATE Alliance Compressors Natchitoches LA NATCHITOCHES Compressor Manufacturing OH Arcadia Gas Storage, LLC Arcadia LA BIENVILLE Natural Gas TX Cadeville Gas Storage, LLC Monroe LA OUACHITA Natural Gas TX Computer Programs & Systems Inc. Monroe LA OUACHITA Healthcare IT Support Services Center AL DigiLou LLC Shreveport LA CADDO Digital media office Start-up Innertech Shreveport LA CADDO Automotive supplier facility MI National Mail-It, Inc. Caddo Parish LA CADDO Direct Mail Advertising LA Northwest Pipe Company Bossier LA BOSSIER Oil & gas pipeline applications WA Patriot Proppants Webster LA WEBSTER Frac sand processing Start-up V Vehicle Co. Monroe LA OUACHITA Automobiles Start-up