Baton Rouge Mentioned in BusinessWeek Story - Metros Least Touched by Recession (Scott: real estate)

[Len-NJ]

Posted on Yahoo The U.S. Metros Least Touched by Recession

Excerpt~

A relative boom in Baton Rouge
"No place has been untouched by this recession. This is a change from previous recessions," said Alan Berube, a senior fellow and research director of the Brookings Metropolitan Policy Program. "But there's a big difference in losing one-tenth of a percentage and losing 15% of jobs."
Baton Rouge, which was ranked No. 6, "grew jobs every month until August 2009 and in August it only lost nine-tenths of a percent, compared to 5.1% nationally," said Lauren C. Scott, professor emeritus of economics at Louisiana State University.
Scott said $5.1 billion of construction projects have been announced or are under construction in the Baton Rouge metro, including a new plant for French chemical company SNF and the expansion of an ExxonMobil chemical plant.
"One nice thing after another thing happened that has countered what's happening in the rest of the country," Scott said.

[BRMan]

Originally Posted by Len-NJ

Posted on Yahoo The U.S. Metros Least Touched by Recession

Excerpt~

A relative boom in Baton Rouge
"No place has been untouched by this recession. This is a change from previous recessions," said Alan Berube, a senior fellow and research director of the Brookings Metropolitan Policy Program. "But there's a big difference in losing one-tenth of a percentage and losing 15% of jobs."
Baton Rouge, which was ranked No. 6, "grew jobs every month until August 2009 and in August it only lost nine-tenths of a percent, compared to 5.1% nationally," said Lauren C. Scott, professor emeritus of economics at Louisiana State University.
Scott said $5.1 billion of construction projects have been announced or are under construction in the Baton Rouge metro, including a new plant for French chemical company SNF and the expansion of an ExxonMobil chemical plant.
"One nice thing after another thing happened that has countered what's happening in the rest of the country," Scott said.

Several things help: (1) we didn't have a lot of finance jobs, (2) other than a brief post Katrina spike, real estate didn't go haywire here, (3) while government and the petrochemicals aren't booming (and there have been some layoffs), we also have a decent healthcare job base here that provides some cushion, (4) between the Green Light program, wise investments by Louisiana in road projects, and the evntual arrival of stimulus money there's a LOT of construction going on right now.

....And it doesn't hurt that LSU's having a good season - you better believe that Game Day is its own economic stimulus !

[Caa]

I am glad we were ranked! I think Baton Rouge is a great town and I wish more people felt the same, but at least we have not been hit like the rest of the country. I went to Florida last weeke(south Florida) and the poeple there are all unhappy and miserable wondering of they are going to feed their family the next day. Not at all like it used to be! Kinda sad, but turning around I think. To anyone that hates it here-go away and let us enjoy our non recessive town!

[MetroBTR]

Louisiana is always a complete 360 from the rest of the country. Back in the middle of the last century when most of the south was stagnant, Louisiana was on top of its game. Then came the 1980's and problems with the oil industry and we went back on the downswing for the succeeding decades while states around us began adding jobs and population rapidly. I feel like we're on threshold of a new dawn in Louisiana. For the first time in a very long time we have an intelligent, resourceful governor who cares more about getting the job done right than he does about his approval ratings and his friends. The economy is diversifying, education is improving, roads are improving, etc.

I am very excited to see what Louisiana will look like in 10 years. I feel almost sure that we are changing for the better.