Business News

Louisiana ranked in top states leading economic recovery

by Wynce Nolley

Louisiana ranks sixth overall in Area Development magazine's 2012 Top States for Doing Business.

According to a recent survey from Area Development magazine called Top States for Doing Business, Louisiana ranks sixth overall among states across the country that are coping and even flourishing in light of the national economic recession.

The magazine also ranked Louisiana first for its cooperative state government and second for its incentives programs:

Part of the acknowledgement for Louisiana's cooperative state government is due to its customized approach in working with companies.  Case in point was the state's success in landing a new $10 billion gas-to-liquids complex for South African-based Sasol, which is set to start construction in 2013.

"We also have done a much better job marketing our state, and we are putting a lot more attention on business retention and expansion than we ever have before," state Secretary of Economic Development Stephen Moret tells Area Development.

The magazine also cites several key steps the Bayou State has taken to strengthen its business climate including the elimination of numerous business taxes, its implementation of several aggressive incentive programs, the creation of the FastStart workforce training program and its success in attracting a slate of new projects across a range of economic sectors from manufacturing to healthcare.

To read more about Area Development's ranking of Louisiana, click here.