Economist Dr. Loren Scott
Economist Dr. Loren Scott predicts the state will add nearly 81 thousand jobs over the next two years. Scott says the industrial industry will see a growth in employment due to a large number of projects in south Louisiana.
“Turner Industries, Performance Contractors, Promise Energy, they’re all hiring people like crazy right now because they can see this construction boom coming.”
Those job gains are forecasted in the New Orleans, Baton Rouge, and Lake Charles regions which have $154 billion worth of industrial construction projects in queue.
Scott says Lake Charles is primed for growth following Hurricanes Laura and Delta. That region could gain 7,200 jobs through seven LNG projects.
“Between now and the first quarter of 2024 somewhere between two and four of those will pull the trigger and these are multi-billion dollar projects.”
Alexandria is predicted to increase employment by 4,200 jobs over the next two years. With two multi-billion dollar projects on the table, Scott says Alexandria will get a much-needed kick after losing jobs over the last several years.
“Cleco has a big carbon capture project that they’re doing out at their Madison three plant. It’s about a one-point-five billion dollar project. And then there’s a new company coming in called SunGas. It’s a one point eight billion dollar methanol plant.”
Louisiana’s rural regions are projected to add nearly 25 hundred jobs over the next two years.
Scott says he’s concerned about the Monroe area. He says Lumen Technologies is downsizing and Vantage Health Plan was purchased by Blue Cross Blue Shield of Louisiana.
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