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A new report says Louisiana could see more than 58,000 new jobs over the next two years, potentially surpassing the 2 million non-farm employment mark for the first time. However, the upcoming presidential election will likely affect the economic outlook, according to the author of the Louisiana Economic Forecast, economist Loren Scott.
“The presidential candidate, Kamala Harris, has said that, at one point, she wanted to ban fracking and to ban drilling off the shore of Louisiana. That would, obviously, be very horrible for those areas of the state,” Scott said.
Scott views the November election as “highly consequential” for Lake Charles’ economy, given the contrasting positions of the candidates on fossil fuels, which are critical to the state’s industries like chemical manufacturing and LNG exports. Any regulatory changes could significantly affect utility costs and economic growth.
“The LNG cause has really hurt that area of the State. There are a lot of projects over there that would have started construction but have not,” Scott said.
Scott says the Shreveport and Monroe areas are ripe for data centers, due to the areas’ access to reliable electric power and open space.
“And these are huge projects. These are projects that are multibillion-dollar projects. These are projects with maybe as high as 600 new jobs,” Scott said.
The opening of the first land-based casino in the Bossier-Shreveport market will also bring hundreds of new jobs. Live! Casino and Hotel Louisiana is set to open in Bossier City early next year.
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