Over the past few years, Louisiana has become a global powerhouse in attracting large-scale, capital-intensive international projects. Between 2008 and 2013, the state’s foreign direct investment exceeded $26 billion, ranking Louisiana third in the U.S. and second in the South. On a per capita basis, Louisiana ranks first in the U.S.
Emblematic of this momentum, Louisiana recently won the “FDI Deal of the Year” award at the 2013 World Forum for Foreign Direct Investment in Shanghai. The state won the award for its successful recruitment of the $16 billion
to $21 billion Sasol Ltd. gas-to-liquids and ethane cracker project under development in Westlake, Louisiana, near Lake Charles. The project will generate an estimated economic impact of $46.2 billion in Louisiana over the next 20 years.
Louisiana Offers Strong Business Climate, Work Force and Infrastructure
When multinational companies seek to expand into the U.S., they typically look for three key assets: a business-friendly investment climate, availability of an extensive infrastructure that provides access to large consumer markets, and an efficient and available work force that meets their needs. Louisiana offers advantages in all three areas.
Louisiana consistently ranks in the top 10 nationally in several business climate rankings; the state’s infrastructure combining ports, rail, highways, and pipelines is comprehensive and second to none; and Louisiana’s work force — combined with the best state work force development program in the nation, LED FastStart® — meets the demands of the contemporary economy across an array of leading industries.
In addition, businesses are finding Louisiana able to provide custom-fit solutions to meet their specific needs. Innovative university partnerships, sophisticated site selection, and custom training centers are just a few of the advantages that set the state apart from the rest.
Major International Companies Continue to Choose Louisiana
Notable international investments in Louisiana include Benteler Group’s $975 million project in a new hot-rolling seamless steel tube mill facility in Northwest Louisiana, Gulf Coast Spinning’s $130 million in a new cotton-spinning facility in central Louisiana, and the Paris-based Gameloft game development studio in New Orleans that will be home to nearly 150 jobs. These recent projects demonstrate the state’s effectiveness in attracting investments from some of the most respected companies in the world in chemicals, advanced manufacturing, and information technology.