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Louisiana ranked third best state to invest in

Louisiana ranked third best state to invest in
Tuesday, March 1, 2011 - 3:06pm

Baton Rouge, La (NBC33) – Louisiana is the third best state in the United States for business investments, according to Site Selection magazine on March 1.

It is ranked only behind Texas and Ohio in the “Governor’s Cup” rankings. Louisiana’s previous highest spot was fifteen.

The “Governor’s Cup” measures how much significant development in the business sector has taken place in one year.

“This ranking is yet another example of our state's strong economic momentum and shows why it's critical to keep taxes low and invest in workforce development programs," said Gov. Bobby Jindal. "By any reasonable measure, Louisiana's economy has outperformed the South and the U.S. since the beginning of the national recession, and we're just getting started. We're going to continue to aggressively pursue business investment for our state so that our sons and daughters can raise their families and pursue their careers right here in Louisiana."

The Louisiana Economic Development group, since January 2008, has gotten projects that will make more that 39,500 new jobs and $8.5 billion in investments. Also, small businesses in the state are projected to make billions as well.

The state’s vastly improved ranking results from a variety of projects, ranging from an iron and steel production in St. James Parish to a Silicon Valley company relocating to Covington, LA, amongst other endeavors.

Also, Baton Rouge was recognized in the Governor’s Cup awards. It was ranked first in metropolitan areas with populations between 200,000 and one million inhabitants.
 

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