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LOUISIANA

Annual Report 2022

9,035 new direct and indirect jobs

9,102 retained jobs

30 projects with capital investments of more than $10 million

12 major projects with investments of at least $100 million

4 mega projects with investments of more than $1 billion

3rd consecutive year of more than $10 billion in economic investment

2nd consecutive year of more than $20 billion in economic investment

9,035 new direct and indirect jobs

9,102 retained jobs

30 projects with capital investments of more than $10 million

12 major projects with investments of at least $100 million

4 mega projects with investments of more than $1 billion

3rd consecutive year of more than $10 billion in economic investment

2nd consecutive year of more than $20 billion in economic investment

9,035 new direct and indirect jobs

9,102 retained jobs

30 projects with capital investments of more than $10 million

12 major projects with investments of at least $100 million

4 mega projects with investments of more than $1 billion

3rd consecutive year of more than $10 billion in economic investment

2nd consecutive year of more than $20 billion in economic investment

9,035 new direct and indirect jobs

9,102 retained jobs

30 projects with capital investments of more than $10 million

12 major projects with investments of at least $100 million

4 mega projects with investments of more than $1 billion

3rd consecutive year of more than $10 billion in economic investment

2nd consecutive year of more than $20 billion in economic investment

Future focused

Louisiana leveraged its unique business advantages, sector diversity and support for innovation and climate action to expand its economy in 2022. It was the second consecutive year in which companies announced more than $20 billion of new business development and expansion projects in the state, and the fifth consecutive year of capex growth. Nearly 20,000 new direct, indirect and retained jobs and over  9,000 new direct and indirect jobs are expected to result from the 53 major economic development projects in 24 parishes across the state’s eight economic regions. As important as the list of accomplishments for 2022 is the groundwork that has been laid for future growth: empowering small business prosperity; supporting research and technology; leaning into the global energy transition; reinvesting in critical infrastructure; and recruiting, training and sustaining Louisiana’s most valuable resource – a skilled and versatile workforce.

Top 20 Projects by Capital Expenditure in 2022

October 31, 2022

$7.5 Billion

Clean Hydrogen Works

350

New Direct Jobs

1122

New Indirect Jobs

0

Retained Jobs

May 25, 2022

$4.7 Billion

Venture Global LNG (Plaquemines FID / capital investment increase)

250

New Direct Jobs

728

New Indirect Jobs

0

Retained Jobs

August 17, 2022

$2 Billion

CF Industries

103

New Direct Jobs

311

New Indirect Jobs

521

Retained Jobs

December 12, 2022

$1.8 Billion

Port NOLA / Louisiana International Terminal

0

New Direct Jobs

0

New Indirect Jobs

0

Retained Jobs

April 11, 2022

$900 Million

Cleco

30

New Direct Jobs

0

New Indirect Jobs

1,335

Retained Jobs

June 14, 2022

$800 Million

Arbor Gas

32

New Direct Jobs

110

New Indirect Jobs

0

Retained Jobs

July 19, 2022

$780 Million

BASF

37

New Direct Jobs

147

New Indirect Jobs

1,190

Retained Jobs

February 16, 2022

$750 Million

Origin Materials

200

New Direct Jobs

857

New Indirect Jobs

0

Retained Jobs

August 5, 2022

$198.5 Million

CF Industries

12

New Direct Jobs

0

New Indirect Jobs

521

Retained Jobs

February 15, 2022

$176 Million

Syrah Technologies

36

New Direct Jobs

52

New Indirect Jobs

19

Retained Jobs

January 20, 2022

$100 Million

American Electric Power

20

New Direct Jobs

63

New Indirect Jobs

20

Retained Jobs

August 24, 2022

$69.6 Million

Guidry Catfish (Processors)

15

New Direct Jobs

17

New Indirect Jobs

34

Retained Jobs

April 14, 2022

$65 Million

Shintech Louisiana

0

New Direct Jobs

0

New Indirect Jobs

350

Retained Jobs

February 8, 2022

$45 Million

Alliance Compressors

78

New Direct Jobs

96

New Indirect Jobs

520

Retained Jobs

August 1, 2022

$35 Million

Calucem

70

New Direct Jobs

158

New Indirect Jobs

0

Retained Jobs

August 16, 2022

$34 Million

Cargill

0

New Direct Jobs

0

New Indirect Jobs

70

Retained Jobs

September 30, 2022

$32.7 Million

Linde

20

New Direct Jobs

49

New Indirect Jobs

105

Retained Jobs

June 3, 2022

$30.5 Million

Shell Chemical LP

5

New Direct Jobs

25

New Indirect Jobs

0

Retained Jobs

April 14, 2022

$30 Million

Shintech Louisiana

0

New Direct Jobs

0

New Indirect Jobs

15

Retained Jobs

We enter 2023 poised for additional expansion and innovation, positioning our state for long-term success in a rapidly changing global economy at the same time that more Louisiana residents are entering the workforce than ever before.”

A LETTER FROM GOVERNOR JOHN BEL EDWARDS

The drumbeat of success echoed across Louisiana in 2022 as our state notched another year of impressive investment, job creation and economic diversification. We enter 2023 poised for additional expansion and innovation, positioning our state for long-term success in a rapidly changing global economy at the same time that more Louisiana residents are entering the workforce than ever before.

Distancing ourselves from the effects of the pandemic and natural disasters, we concluded 2022 with six straight months of record-breaking low unemployment. We have added about 228,000 jobs since the worst of the pandemic. LED announced more than 50 major projects across the state, representing over $20 billion in new investment and more than 9,300 new jobs.

Our climate action plan – the first and only such plan in the Gulf South – has enhanced our strength as an energy state by balancing a long-term vision for emissions reduction with an aggressive response to current market demands. Ongoing investments in liquefied natural gas production and export capacity allowed Louisiana businesses to directly benefit from spiking global demand for LNG. And our unambiguous embrace of the emerging clean energy economy has attracted investment from both legacy energy companies and start-ups investing in emissions reduction technologies and offshore wind, solar and renewable fuels projects.

My administration’s efforts to revitalize Louisiana’s rural communities accelerated in 2022. Companies announced more than 15 new or expanding business projects representing more than $1.5 billion in capital investment in rural areas over the past year. LED and my Office of Rural Development ramped up assistance for local communities seeking to access new federal funding designed to improve access to broadband, clean water, education, finance, healthcare, infrastructure, workforce development and agriculture.

Success in the future economy demands diversification, which our state continued to support in 2022 with important investments in emerging sectors such as tech, life sciences, aerospace and water management. Reinvesting in logistics assets such as the Avondale Global Gateway and the $1.8 billion Louisiana International Terminal container facility at the Port of New Orleans will further secure Louisiana’s place as a U.S. leader in foreign direct investment.

The small business community remains the backbone of our state’s economy, which is why we have worked so hard to maximize the impact of the U.S. Treasury’s State Small Business Credit Initiative. The announcement in December that Louisiana entrepreneurs will receive up to $113 million of support – with particular emphasis on traditionally underserved or disadvantaged businesses – will provide economic benefits for years to come.

Economic growth requires us to fix our gaze forward, not back. But the view from 2022 is clear: Louisiana’s economic foundation is strong, and the future is bright and sustainable.


John Bel Edwards

Governor, State of Louisiana

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Since 2016, more than 350 economic development projects have been announced, representing nearly $90 billion in investment and more than 70,000 jobs.”

A LETTER FROM SECRETARY DON PIERSON

The Louisiana Economic Development team has a singular mission: creating jobs and economic opportunity for the people of our state. Success requires that we be multi-faceted, seeking investments across the widest possible range of sectors, in the broadest possible geographic area encompassing every region of the state, supporting small businesses and large multinational conglomerates alike. The story of 2022 is one of exceptional achievement at both ends of that diverse business spectrum.

Capital investments from major national and international corporations have risen annually since 2017 and did so again in 2022. The scale of those investments is trending up as well: More than $10 billion total project investment three years in a row; more than $20 billion in each of the last two years. Since 2016, more than 350 economic development projects have been announced, representing nearly $90 billion in investment and more than 70,000 jobs.

Louisiana’s programs to foster business growth and entrepreneurship – including special programs for women, minority and veteran business owners – are among the nation’s best. One of the nation’s oldest and most respected business leadership development organizations, the Edward Lowe Foundation, presented LED with its inaugural Founders Award in 2022. The U.S. Treasury rewarded that small business development excellence by allocating Louisiana $113 million in the State Small Business Credit Initiative (SSBCI) – nearly nine times larger than the $13.2 million we received in the 2010 initiative. Those federal funds will benefit businesses statewide for years to come.

Investment decisions often hinge on a company’s ability to recruit, train and sustain a skilled workforce in the state, and Louisiana continues to set the pace in this critical area. LED FastStart was honored by the site selection trade publication Business Facilities in 2022 as the best customized training program in America for a record 13th consecutive year. LED FastStart’s ability to keep Louisiana on the leading edge of workforce development is a remarkable success story, one made possible by the support of higher education leaders and a strong commitment from the Legislature and governor to invest in our workers.

Underlying success in these and all areas is an approach to economic development that prioritizes public-private and state-federal partnerships. The impact of that collaborative approach has never been more evident than in 2022. From a successful NASA space launch made possible by aerospace workers trained at Louisiana colleges to a $50 million federal grant kick-starting an offshore wind-powered hydrogen energy plan in south Louisiana, partnerships powered investment and innovation. Together, we will ride the momentum of 2022 into 2023 in our never-ending pursuit of prosperity for our state and its people.


Don Pierson

Secretary, Louisiana Economic Development

Follow Secretary Pierson for more updates

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Business Climate

Louisiana’s foundational business strengths

Infrastructure Advantages:

Superior transportation logistics include 6 deep draft ports, 6 Class I railroads, 6 Interstate highways, 7 primary airports, 50,000 miles of pipeline.

Global Access:

Mississippi River serves as a gateway to international markets via the Gulf of Mexico, and provides direct access by barge to 17 states.

Sector Diversity:

Key industries run the gamut from traditional verticals like energy, manufacturing and agribusiness to emerging sectors like tech and life sciences.

Commitment to Sustainability:

Only climate action plan in the Gulf South is supported by an “all of the above” energy production and emissions reduction strategy.

Abundant Natural Resources:

Natural gas, timber and salt are among the state’s many essential and accessible raw materials.

Higher-Ed Partnerships:

Universities and technical colleges collaborate closely with businesses and economic developers to prepare students for real-world jobs.

Support for Innovation:

State programs drive investment in life sciences, water management, technology, aerospace digital media and more.

Regional Highlights

Acadiana

Bayou

Capital

Central

Northeast

Northwest

Southeast

Southwest

Schlumberger centralizes North Gulf Coast operations at new $11.5 million hub, creating 113 new direct and indirect jobs in Lafayette.

Supreme Rice announces $16.2 million investment to create parboil facilities and expand product line in Acadia Parish.

UL Lafayette receives LED Entertainment Development Fund award to create visual FX program.

$29.8 million expansion of John Deere manufacturing facility shifts cotton harvester production from China to Thibodeaux.

$15.9 million expansion of Birla Carbon facility in St. Mary Parish creates 17 new direct and indirect jobs, retains 146. 

Nicholls State University partners with the U.S. Bureau of Ocean Energy Management to develop Gulf Coast research database.

CF Industries invests $2.2 billion in carbon-reduced ammonia production at new and expanding Donaldsonville manufacturing facilities.

BASF begins $780 million final phase of $1 billion expansion project at its Geismar MDI facility, which will create 184 new direct and indirect jobs and retain more than 1,000.

Arbor Gas announces $800 million renewable fuels facility that will create 142 new direct and indirect jobs in Port Allen.

Cleco announces $900 million project to add carbon capture and reduce emissions at Brane power generation facility.

$176 million investment from Syrah Technologies establishes state’s first EV battery supply-chain foothold in Vidalia.

Great Southern Wood Preserving announces two expansions at its Avoyelles Parish facility totaling $28.4 million investment, 311 new direct and indirect jobs, 79 retained jobs.

New Entergy call center creates 170 new direct jobs.

Mid South Extrusion expands production lines in Ouachita Parish with a $4.9 million capital investment that retains 170 jobs.

Economic Development Administration awards $1.8 million to support construction of a new Biomedical Research and Innovation Park on the University of Louisiana Monroe campus.

Teal Jones Group breaks ground on $100 million sawmill modernization project in Plain Dealing.

Alliance Compressors invests $45 milllion in Natchitoches Parish expansion to meet global demand for energy-efficient a/c, adding 174 new jobs and retaining 520.

State-of-the-art, $19.8 million Center for Molecular Imaging and Therapy facility opens, creating life sciences hub in Shreveport.

$1.8 billion Louisiana International Terminal project in St. Bernard Parish creates ‘historic’ public-private partnership between state, Port of New Orleans, Ports America and TIL.

Clean hydrogen project, H2theFuture, awarded $50 million from EDA Build Back Better Challenge.

General Dynamics Information Technology opens office to support $136 million Navy contract.

Venture Global’s Calcasieu Pass LNG facility begins operations as European demand for U.S. natural gas soars.

$250 million rebuilt BioLab chemical plant, damaged after Hurricane Laura, reopens in Lake Charles.

Canfor breaks ground on new $160 million sawmill facility in DeRidder.

2022 IN REVIEW

Video Playlist

Sector Spotlight: Aerospace and Aviation

Sector Spotlight: Energy

Sector Spotlight: Tech

Sector Spotlight: Agribusiness

Sector Spotlight: Manufacturing

Sector Spotlight: Entertainment

Sector Spotlight: Life Sciences

Sector Spotlight: Water Management

Empowering Investment

Business Climate

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