310lect11

Industry

Primarily based on local natural resources

$55 billion per year

Petroleum and petrochemicals 75% of total manufactured goods

Ranks second in value added per capita…should make Louisiana a much wealthier state.

Exports

Five of the top 12 ports in the US are in Louisiana as measured in tonnage

Much of this is grain, which make the cargo less valuable than that exported from other ports.

LA is 9^th in value of export products.

Also, this grain is not produced in LA

Japan is the top export destination

Growth Industries

Furniture industries could relocate here because 90 % of our hardwood is shipped elsewhere; much of it used in furniture manufacturing

Seafood, especially crawfish have been cited as a growth pole

Ethnic cosmetics are another potential growth area (chemicals and a large domestic market)

Retirement villages? Growth is very slow so far. Why?

High Tech

Attraction rate is low for footloose industries, like software and hardware manufacturing.

Pharmaceuticals and medical technology firms have also been cited as a potential growth leader because of their close association with the chemical companies

Environmental concerns, because LA is a leading polluter, could also become a growth pole.

Tourism

Part of a growing service sector that is likely to lead Louisiana industrialization in the next 50 years.

Most of it is low paying and it is occurring in much of the US.

Cheap labor attracts many more of the labor intensive industrial pursuits to LA

Non-Union

Tourism itself is a major growth industry worldwide and by some accounts is the world’s largest industry.

Shopping and gambling lead cultural/historical tourism by a large margin.

Mardi Gras of course is a major ‘event’ draw.

Louisiana’s cultural diversity and unique heritage make tourism an ideal industrial development strategy

Multiplier effect can be impressive.

Has been and continues to be concentrated on the New Orleans area.

Gambling has helped bring in lots of money into Shreveport and Lake Charles areas; most of the visitors are from Texas.

$1.2 billion in revenues

Five tourism areas: New Orleans, Plantation Country, Cajun Country, Sportsman’s Paradise, and Crossroads.

International tourism of little effect, mostly Canadians. LA has a sales tax refund program, probably modeled after the one in Canada.