2023 has been a banner year for Louisiana Economic Development. Secretary Don Pierson said more than $25 billion of new investments was announced in the Bayou State this year.
“Making it the third year in a row that we’ve exceeded $20 billion. We’ve got record low unemployment in our state and rising wages,” said Pierson.
Another barometer to gauge progress in the state’s economy is the growth in domestic product. According to the U.S. Bureau of Economic Analysis, Pierson said Louisiana’s GDP in the third quarter exceeded the national average.
“Did that in the second quarter as well, but now at 6.6% of GDP growth in Louisiana and that’s ahead of 45 states in real growth of domestic products,” said Pierson.
Pierson said he’s extremely proud of the work LED has done under Governor John Bel Edwards’ administration. In the last three years alone, Pierson said there’s been record investment in the state.
“Growth in literally all parts of the state, it’s a great time in our economic growth in our beautiful state of Louisiana,” said Pierson.
Since 2016, Pierson said the state has had $100 billion-plus in new capital investment and can claim the lowest recorded unemployment in the state’s history.
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