Economy
Green jobs on the rise in Louisiana
Part of LA’s green economy not only includes solar power, but also the business of making and selling wood pellets. Jobs related to the production of biofuels, wood pellets, coastal restoration, hydro-power and wind turbines qualify as a part of the state’s “green economy, and account for 5.3 percent of the state’s employment, according to a 2010 study lead by LSU and the Louisiana Workforce Commission, and funded through a U.S. Department of Labor grant. Full article.
Chefs looking to start small carve out temporary quarters in established kitchens
With the recession causing banks to tighten lending, financing a new restaurant can be extremely difficult. Enter the "pop-up restaurant," a program where chefs set up a temporary restaurant -- usually just one night a week, inside the shell of another restaurant during its off-hours. For some chefs, pop-ups are a way to test-drive the local market and gauge demand before investing in a full-scale restaurant. For others, it's a way to try out life as a chef, while still maintaining a day job. Full article.
Consumer retail purchases give economy boost
The Commerce Department recently reported that consumers spent more in October to boost retail sales, which provides an encouraging start for the October-December quarter. Sales also rose at grocery stores, bars and restaurants and health care stores. Full article.
Unemployment rate falls to two-year low
The unemployment rate fell to a two-year low of 8.8 percent in March, and the Labor Dept reports that the economy added 216,000 jobs last month. Private employers, the backbone of the economy, are driving the gains, and economists predict employers will add jobs at roughly the same pace for the rest of this year. Full article.
With proper energy policy, LA economy could take off
In a recent meeting of the Central LA Chamber of Commerce Legislative Issues Conference, the president of the LA Assoc of Business and Industry told members that LA's economy will accelerate if the federal government would consider all energy sources in this country and not put unnecessary regulations on a land oil and gas extraction method. Full article.
Signs of growth: Businesses are borrowing
Now that demand is up and business is finally improving for many companies, they're doing what they always do at the beginning of an expansion — calling the bank and asking for a loan. And—in stark contrast to the depths of the financial crisis, banks are saying yes. Loans are one of the best gauges of economic growth, and borrowing by smaller companies is being watched especially closely because it may indicate those companies are preparing to hire. Full Article.
The rising cost of food
The World Bank announced this week that food prices are 29 percent higher than they were a year ago. The increase has been fueled by higher prices for wheat and corn. Kurt Guidry, an economist and professor with the LSU AgCenter, said the final consumer price depends a lot on the amount of processing the food goes through. Full article.
Governor Jindal works to extend Enhancements of Critical Business Incentives
Gov. Jindal recently announced he will work to extend the Quality Jobs Program, the Research and Dev Tax Credit & the Technology Commercialization Credit/Jobs Program to keep the state competitive in attracting business investment and spur job creation. The Quality Jobs program encourages businesses to locate or expand operations in Louisiana by providing tax incentives for job creation and capital investment. Full article.
Strain: La. agriculture has 'unprecedented opportunity'
LA’s Agriculture and Forestry commissioner, Mike Strain, recently indicated that La. agriculture has an unprecedented opportunity. Strain's optimism is based on prices of agricultural commodities such as corn, wheat, cotton, rice and sugar, which are rising. Full article.
Drilling ban hurts 'real life' people
Rob Guidry, of the Greater Lafayette Chamber of Commerce, is gathering information from local companies to show politicians that idling rigs in the Gulf is taking a toll on a slew of mom-and-pop businesses. The local chamber plans to compile these "real life" stories on an Internet portal that will be used during hearing in Washington on the issue of drilling in the Gulf. Full article.
