The future of Louisiana’s economy is looking bright, but there is still plenty of work to be done to reach its full potential. Louisiana Economic Development Secretary Susan Bonnett Bourgeois recently shared this message with local business leaders at a State of Economic Development breakfast hosted by the St. Tammany Chamber of Commerce.
Bourgeois, who took on her role in January, emphasized the need for a new strategic plan for LED, something that has been lacking for 16 years. She highlighted the importance of attracting new businesses and supporting existing ones, with a focus on industries such as agribusiness, manufacturing, energy, medical, and entertainment.
St. Tammany Corporation CEO Chris Masingill also spoke at the event, noting the significant economic impact of businesses in the area. While the parish boasts the highest median household income in Louisiana, Masingill pointed out that nearly half of workers still earn less than $35,000 annually.
One key project that could boost the parish’s economic prospects is the Gulf South Commerce Park, located north of Mandeville. The project, spearheaded by locally-owned Crosby Development Company, aims to attract large-scale logistics and distribution companies, advanced manufacturing, research and development, sustainable businesses, and health and science interests.
Interest in the commerce park is already high, with businesses from across the U.S. expressing interest in setting up shop there. With a focus on strategic planning and targeted industry growth, Louisiana’s economy is poised for success, but there is still work to be done to ensure a prosperous future for the state.