Louisiana is marking its seventh consecutive year-over-year capital investment growth as it nears the end of 2023 with more than $25 billion in new economic development projects announced this year, Louisiana Economic Development announced Thursday afternoon.
It’s also the third consecutive year that project wins totaled $20 billion or more.
The capex totals are among the highlights of the 2023 Louisiana Economic Development Annual Report that was released Thursday.
Energy and emissions reduction projects are driving much of the recent investment. Louisiana has experienced a surge of economic activity in the energy sector—more than $14 billion in capex and 11,500 potential new jobs resulting from 2023 projects alone, according to the report.
“Legacy sectors that have traditionally fueled Louisiana’s economy—energy, agribusiness and manufacturing—are expanding and transforming in response to the global shift toward sustainability,” LED Secretary Don Pierson said. “They are now complemented by increasingly robust technology, aerospace and aviation, life sciences and water management sectors.”