Research Center

Louisiana Business Profile

Executive Summary

If you're in the market for an abundance of natural resources, direct access to domestic and foreign markets, a friendly business environment and workers with a desire to get the job done-then look no further. Louisiana is the place to be.

Recognizing its potential for growth, businesses are also attracted by the state's generous package of business incentives, which includes loan guarantees, matching grants and venture capital investments. Fruit of the Loom and Northrop-Grumman Aerospace are among the growing list of companies that have made the move to Louisiana.

Essential to the success of any business is the ability to bring its goods to market. Louisiana's highways, waterways, ports, airports and telecommunications facilities provide its businesses with ready access to markets-around the corner and around the world.

An abundance of natural resources also provides business and industry with direct access to the raw materials essential to manufacturing and refining processes. Located off the coast in Plaquemines Parish, Main Pass is the only site in the world where oil, natural gas and sulfur can be mined in a single location. The state's rich, fertile soil contributes to the high-volume production of sugar cane, sweet potatoes, rice, soybeans and cotton.

Still, the greatest natural resource lies within its people. Indeed, Louisiana's workers are the most productive in the country. And the state offers a variety of training programs to keep its labor force competitive.

Oil and natural gas continue to play a significant role in the state's economy-Louisiana contains 15% of all known U.S. oil reserves and is the country's second largest producer of natural gas and the third largest producer of petroleum; the state manufactures 25% of all U.S. chemicals. Since the 1980s, there has been an influx of pharmaceutical firms, furniture and apparel manufacturing ventures.

Perhaps one of Louisiana's most attractive features is still its moderate cost of living-from food and housing to utilities and healthcare. Friendly people, a strong system of education and many recreational resources contribute to a relaxed way of life that make people who move to Louisiana want to stay.