Economic Forecast for Louisiana and Livingston Parish.
Last Thursday, Dr. Loren Scott delivered his annual Economic Forecast at the LEDC quarterly meeting where the Chamber attended. Here is a brief overview of his presentation.
Low natural gas prices, five times less in comparison to other parts of the world, are fueling the impressive number of projects in the Baton Rouge area. Industrial construction projects - expansions underway are valued at over $6 billion.
The Amazon project at the old Cortana, its proximity to Livingston Parish and the proposed jobs in the thousands are considered a win by economist. (Livingston Parish Chamber Note: What that means for local Livingston Parish businesses ability to employ and attract talent and workforce is one to watch for our businesses located in the parish.)
59% of employed residents of the parish are employed outside the parish mostly in neighboring East Baton Rouge, Ascension and a small amount in Tangipahoa. That income earned is spent back home in Livingston adding to our tax base.
Growth for Livingston Parish from 2010 to 2020 was 11.4% making us the 7th fastest growing parish in the state.
Current and new projects in Livingston Parish are the Weyerhauser $157 million upgrade to the lumber mill retaining 119 jobs and adding 4. Two projects on the horizon for Livingston Parish, not yet announced, will create 150 new jobs and $20 million in capital spending.