Posts filed under Economy

One Good Louisiana Success Story Right Before Christmas

Photo source: Google Play

Photo source: Google Play

Meaux, 50, is just five years removed from launching the food delivery startup alongside four co-founders in what he described as a windowless, “cinder-block” room in a business incubator in Lake Charles.

In that time, the company has grown at a frenetic clip, surpassing revenue projections and rolling out in city after city in Louisiana and across the Southeast. As of the beginning of December, it had more than 9,000 employees, including 400 in corporate offices, like the one on the first floor of The Daily Advertiser newspaper building in Lafayette, where he and his leadership team are based.

Last month, the company went public on the Nasdaq stock exchange after being scooped up by Texas billionaire Tilman Fertitta’s Landcadia Holdings for $308 million. For most of December, Waitr has had a market capitalization of more than $600 million, and it recently acquired a rival, Bite Squad, for $321 million, doubling Waitr's footprint.

Read more: From ideas in Chris Meaux's notebook five years ago, Waitr now employs more than 9,000 and poised to be major player in the restaurant industry

Posted on December 21, 2018 and filed under Economy, Louisiana.

The Fruits of a Tax and Spend Governor

Photo source: Wikipedia  

Photo source: Wikipedia  

Personal income in Louisiana growth slowed to a 2.3 percent rate in the third quarter of this year, a smaller gain than almost every other state, newly released figures show.

The U.S. grew personal income by 4 percent, according to the U.S. Bureau of Economic Analysis. Personal income includes income from labor, owning a home or business, financial assets and transfers.

Louisiana ranked 48th in the rate of growth. Mississippi, also at 2.3 percent, ranked 49th, and Missouri, at 2.1 percent, ranked 50th.

The state added $1.19 billion in personal income during the period, including $796 million in net earnings.

Farm earnings took the biggest hit in the quarter, down $101 million. Mining, quarrying and oil and gas extraction fell by $75 million.

Read more:  Louisiana personal income growth lags behind nation in third quarter

JBE's Chinese Investment Goes Down the Drain

Photo source: Inside Sources

Photo source: Inside Sources

Cajun Conservatism recently pointed out that our governor decided to do business with China in this post.  Now, Congressman Peter King (R-NY) addressed, in a recent House Intel Committee meeting, that a Chinese company, Wanhua Chemical, who John Bel Edwards gave state taxpayer money to, is reconsidering their investment in Louisiana.  As indicated in this piece, it is troubling to have an "economic enemy", as President Trump has called China, acquiring American technology.

China aggressively seeks to acquire American technology and intellectual property through multiple vectors including: physical and cyber theft, forced technology transfers, evading United States export controls, export restraints on raw materials, and investments in more than 600 high-technology assets in the United States worth close to $20 billion.

Secondly, this is a clear indication of the trade imbalance that remains between the US and China.  The main reason that this project was cancelled was because of labor and material costs.  The citizens of Louisiana should be rightly concerned about a plant being built with Chinese material and being fabricated by Chinese labor.

 

Posted on July 19, 2018 and filed under Economy, Louisiana, John Bel Edwards.

GROW LOUISIANA COALITION: Act Now to Support Steps to Improve Louisiana's Business Climate

Photo source: Grow Louisiana Coalition

Photo source: Grow Louisiana Coalition

When we grow business investment and bring new jobs here, we grow Louisiana. Attracting new projects and investments in our state often relies on our parish and state governments encouraging capital investment and job-creating activities.

For decades, the Industrial Tax Exemption Program (ITEP) has been Louisiana’s most important economic development tool. After nearly two years of uncertainty and confusion, the state’s economic development agency has proposed new guidelines that could be the first step in the right direction.

For more than 4 years, we have stood up for jobs in Louisiana. Our state’s leaders need to hear our voice again.

Click here to see and review the proposed rules from the State of Louisiana.

Posted on May 31, 2018 and filed under Louisiana, Economy.