La. reaches all-time high in national business climate
Governor Bobby Jindal announced Louisiana’s ascent to its highest ranking ever in a national business climate study released this week by Pollina Corporate Real Estate. In an analysis of top pro-business states for 2013, Pollina ranks Louisiana No. 14 – the highest placement for the state in the 10-year history of the ranking.
Since 2008, Louisiana has climbed 26 spots in the Pollina ranking, making it the most improved state in the nation over the past five years. Louisiana’s placement in the Pollina ranking continues a trend, as Louisiana now ranks higher in every national business-climate ranking than it ever did prior to 2008. In three national business climate rankings – Area Development, Business Facilities and Site Selection – Louisiana now ranks among the top 10 states in the U.S.
Jindal said that when he took office, he made expanding and increasing career opportunities for the people of Louisiana his top priority. By eliminating burdensome businesses taxes, overhauling governmental ethics laws, reining in government spending, streamlining the workforce development system and enacting landmark education reforms, Louisiana has established itself as America’s new frontier for business opportunity.
“Every day, more and more companies are identifying Louisiana as the best place for business investment and job creation,” Jindal said. “Still, we will not rest until Louisiana is the best place in the world to live, work and raise a family.”
Pollina ranks the 50 states on 32 factors, including evaluation metrics such as business tax burdens, workforce training programs, workers compensation costs, economic development incentives, energy costs, marketing programs and state economic development efforts. Louisiana climbed from No. 40 in 2008 to No. 27 in 2009, No. 20 in 2010, No. 18 in 2011 and No. 16 in 2012. The latest Louisiana advancement to No. 14 continues the state’s economic momentum across a slate of third-party business climate rankings, including the Pollina report.
In the same report, Pollina noted that Louisiana Economic Development is tied with its counterparts in five other states (Kansas, Missouri, Nebraska, Ohio, and Utah) as the best-performing state economic development agency in the U.S.
Louisiana’s improved ranking from 2008 to 2013 is based on a variety of factors, including the elimination of several harmful business taxes; the creation of LED’s Business Expansion and Retention Group; the creation or enhancement of targeted business incentive programs, such as the Retention and Modernization Tax Program and the enhanced Digital Interactive Media and Software Development Incentive; the launch of LED FastStart®; LED’s enhanced website; economic development marketing campaigns; and improved perceptions of Louisiana among top site selection consultants and corporate executives.
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