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Louisiana's shining light
Shreveport, Bossier City create tidal wave in stagnating
economic pond
By Sam Barnes
Running counter-cyclical to the rest of the state, and much
of the country for that matter, Shreveport and Bossier City
have become economic anomalies.
Casinos, manufacturing facilities, military bases, hotels/motels,
power plants and rapidly developing ports along the Red River
have combined to create an economy that is sturdier than most.
About 4,300 new jobs are projected for the Shreveport-Bossier
City area, representing a growth rate of 1.2 percent a year.
Shreveport's better-than-average performance in 2003 is being
driven by numerous factors, including:
- The Tier 1 suppliers that will be servicing the new General
Motors plant will become operational. This metro area has
attracted 12 of these firms, with total employment estimates
now in the 800 to 950 range.
Most recently, Ai-Shreveport opened a 226,000-sq.-ft. facility
to allow the company to begin supplying transmissions to the
GM plant.
- Now that the U. S. Congress has passed the part of the
energy bill that provides tax credits to wind-generated
electricity, Beaird Corporation will be boosting its staff
by about 250 to build the cylindrical wind tower for these
units.
- Frymasters is moving a product line from California to
Shreveport and will add 40 employees. This firm makes deep
fat fryers and other cooking equipment for McDonalds, Burger
King and KFC.
Also contributing to the boom is the continued vibrance of
the gaming industry. At the moment, the industry appears to
have bottomless pockets.
Isle of Capris Casino and Harrah's Louisiana Downs currently
lead the pack in gaming investment.
Other big investors include hospitals such as Christus Schumpert
Hospital, Willis Knighton Hospital and the LSU Medical Center;
riverfront development such as the Louisiana Riverwalk in
Bossier City; and a continued plethora of construction at
Barksdale Air Force Base as it expands its dormitory system
and military facilities.
AGC Shreveport Executive Director Mike Gibson said the infusion
of investment has led to a significantly improved work environment
for Shreveport contractors.
"We expect that the diversification of the region over
the last decade will continue to lead to new construction
opportunities in our region for the foreseeable future,"
Gibson said.
"Projects will run the gamut from the medical/biomedical,
entertainment and tourism, public works, educational, energy
and military sectors."
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