(Shreveport-Bossier, LA) For the second year in a row, the Shreveport-Bossier Metropolitan Statistical Area (MSA) ranked in the top ten for economic development with 23 new or expanded corporate facilities, according to Site Selection magazine. The Shreveport-Bossier MSA, which includes Caddo, Bossier and DeSoto Parishes, tied for ninth in the nation among Tier 2 metropolitan areas with populations between 200,000 to 1 million.
"This continues to validate our united efforts to promote this area as one region that is a destination not only for businesses to thrive but their families as well,'' Shreveport Mayor Cedric Glover said. “I'm proud to see us maintaining such a high position on one of those ‘good lists’ that we always talk about when promoting our potential for economic development.''
The ranking was released today by Site Selection, which annually calculates the Top Ten Metro Areas, Top Micropolitans and the Governor’s Cup, a ranking of top ten states in the nation. Site Selection, the oldest publication in the corporate real estate and the economic development fields, determines the rankings based on the number of new and expanded facilities for an area, as tracked by its “New Plant Database.” The ranking is considered by corporate real estate analysts as “the industry scoreboard.”
“The Caddo Commission is proud to be a part of a team that is working hard to bring economic development to the area. We will continue to put hooks in the water in an effort to catch a big one for Caddo Parish and the surrounding North Louisiana area," said Mike Thibodeaux, Caddo Commission President.
Area leaders attribute the MSA’s continued growth to state, regional and local economic development groups working together to promote our region and to improve the business climate of North Louisiana and the state.
“Once again the Shreveport-Bossier MSA has been recognized as being a positive and favorable place to do business. A lot of hard work by local governments, the State of Louisiana and local partners such as the North Louisiana Economic Partnership has earned us this top ten ranking. This recognition acknowledges that Shreveport-Bossier is an excellent place to do business from people who are in the business to know,” said Rick Avery, Bossier Police Jury President.
The Shreveport-Bossier economy remains in the top ten nationally for economic development, outperforming many other economies of similar size. Ranking after ranking from Forbes to Site Selection point to a healthy and diversified economy.
“The Haynesville Shale has bolstered the area economy, insulating us from some of the effects of the national recession. The shale continues to bring new businesses and news jobs to DeSoto Parish, thus improving our tax base and allowing us to improve our communities,” said Reggie Roe, DeSoto Parish Police Juror and board member of the North Louisiana Economic Partnership (NLEP).
Site Selection’s rankings include only new corporate locations and expansion projects, which have significant impact. It does not track retail, government or schools and hospitals. The projects included in the database must meet at least one of the three criteria: a capital investment of at least $1 million; job creation of at least 50 jobs; or an addition of at least 20,000 square foot of new space.
“This national recognition is reflective of what our area has to offer business and industry. This is outstanding news and serves as a testament to our local government and the business community’s combined efforts to strengthening the local economy by fostering an environment where businesses may flourish and create jobs,” said Mayor Lorenz Walker, City of Bossier City.
Some of NLEP’s 16 wins in 2011 helped the region earn its top ten ranking. NLEP and its partners work on recruiting new companies and supporting existing businesses with their growth plans and expansions. These successful projects have the potential to generate from $175.5 million to $195.5 million and from 667 to 826 new or retained jobs in the coming years.
“North Louisiana’s continued success despite the challenging economic times is a real indication that regionalism works. By working together across the entire region and building partnerships across 14 parishes in North Louisiana, NLEP helps to foster job creation and capital investment,” said John Peak, NLEP volunteer chair.
The State of Louisiana also ranked tenth in Site Selection’s Governor’s Cup, finishing with 181 projects. Three other metropolitan and micropolitan areas in Louisiana also placed in the top ten of their respective population categories, including Baton Rouge (No. 1 in Tier 2 Metro Areas); Lake Charles (No. 4 in Tier 3 Metro Areas); and Morgan City (No. 8 in Micropolitans).