Louisiana earned its fifth consecutive Top 10 ranking in Area Development magazine’s annual Top States for Doing Business report, placing No. 8 overall. The 2015 Top States for Doing Business report from Area Development magazine surveyed the nation’s top site selection consultants to produce the report’s findings.
In addition to the overall Top States for Doing Business ranking, Area Development ranked states in several specific business categories. For example, Louisiana ranks No. 2 in Incentive Programs; No. 2 in Leading Workforce Development Programs; No. 3 in Cooperative State Government; No. 3 in Speed of Permitting; No. 4 for Access to Capital and Project Funding; No. 4 for Most Favorable Regulatory Environment; and No. 4 in overall Business Environment. Louisiana also was rated No. 6 for Cost of Doing Business; No. 6 for Water Availability and Cost; No. 7 for Competitive Utility Rates; No. 7 for Competitive Labor Costs; No. 8 for Rail Accessibility; No. 9 for Certified Sites/Shovel-Ready Program; and No. 9 for Corporate Tax Environment.
Area Development editors lauded LED FastStart® – Louisiana’s customized workforce development program – as a key element in the state’s successful business environment.
“Louisiana’s FastStart program was established in 2008 and relies on experienced industry professionals to interface with companies to create highly customized employee recruitment, screening, and training solutions for clients,” the magazine said. “To meet projections of fast job growth in Louisiana over the next five years, FastStart is developing more advanced job-matching and recruitment tools.”
In five national business climate rankings – those published by Area Development, Business Facilities, Chief Executive, Site Selection and international location marketing firm DCI – Louisiana now ranks among the Top 10 states in the U.S. Site Selection named LED the best-performing state economic development agency in the nation in 2011 and No. 2 in the nation in 2015. Pollina Corporate Real Estate ranked LED tied for the best-performing state economic development agency in the nation in 2013.
