Plant managers around the region expect production, capital spending and employment to remain mostly steady over the next six months, according to leaders of 28 sites who responded to the Greater Baton Rouge Industry Alliance’s third-quarter survey.
Strong increases in hiring and spending following the pandemic low point have leveled off for now, though a spate of recent project announcements has the region’s industry gearing up for another increase in construction activity, says Connie Fabre, GBRIA’s president and CEO.
However, some plant leaders have expressed concerns about the potential for a recession, in addition to long-standing workforce and regulation worries.
According to the survey:
- Twenty-five percent of managers expect production at their plants to increase, while 71% predict no change and 4% expect a decrease.
- Forty-three percent expect increased spending, while 57% expect no change.
- Forty-six percent expect direct employment to increase, while 54% expect no change.
- Thirty-six percent expect contract employment to increase, while 64% expect no change.