Shreveport Ranking

Shreveport-Bossier Ranks in Top Ten Nationally for Economic Potential

August 14, 2013


SHREVEPORT–BOSSIER, La. — The Shreveport-Bossier Metropolitan Statistical Area (MSA), which includes all of Caddo, Bossier and DeSoto Parishes, earned the no. 9 spot on Business Facilities’ 9th Annual Rankings Report.  Business Facilities, a leading economic development journal, ranked Shreveport-Bossier in the top ten when comes to economic potential.  The journal looked at metros with dynamic new growth sectors which were thriving alongside their traditional industry strengths.

“I'm delighted to see these latest rankings, and we all should be inspired by the positive results we're seeing from the collective and strategic efforts to attract and retain outstanding companies like Ronpak, Benteler Steel, and of course, our very own Moonbot Studios,” said Mayor Cedric Glover, City of Shreveport.

“This is great news and indicative of what we have to offer the business world.  From cyber to the film industry, Bossier City-Shreveport is a diverse area in terms of economic development. Our two cities may be separated by a river but together we share the commitment to strengthen our local economy by fostering an environment conducive to business growth and job creation,” said Mayor Lorenz Walker, Bossier City.

Business Facilities points to Shreveport-Bossier’s booming digital media hub as one of the hottest new growth sectors in the nation.  Oscars-winning Moonbot Studios, an animation and visual effects studio, helped put its hometown of Shreveport, LA on the global digital media map. At the 84th Academy Awards™, Moonbot won an Oscar for Best Animated Short for its digital interactive storybook for children, The Fantastic Flying Books of Mr. Morris Lessmore.

Moonbot was founded in 2009 by William Joyce, a Shreveport native who has worked for Disney/Pixar and FX Studios, among other award-winning digital design shops. The company credits Louisiana Economic Development’s FastStart training program and digital media incentives for helping get their story off of the shelves and onto the screen.

“Our area’s growth and success can be attributed to the continued cooperation among the various entities to make things happen.  An environment of collaboration and teamwork creates a pro-business atmosphere which companies appreciate and understand. This is a great place to do business and achieve financial sustainability, which is the bottom line for anyone wishing to start or expand their business,” said Jimmy Cochran, Bossier Parish Police Jury President.

North Louisiana Economic Partnership (NLEP), a public-private regional economic development organization, works with prospective and existing companies to build and grow the economic base of North Louisiana.

"Other major growth areas for North Louisiana include the manufacturing and energy sectors, along with our traditional strongholds such as timber. These sectors will remain very strong for years to come," said Scott Martinez, NLEP President.

Ronpak, a custom paper bag manufacturer, opened the first new American paper bag mill in nearly a decade right here in Caddo Parish. Benteler Steel/Tube announced a new steel tube mill at the Port of Caddo-Bossier. The $900 million investment represents the second largest American investment during 2012. Elio Motors plans to build a next generation, three-wheeled car at the shuttered GM plant. Idaho Timber, RoyOMartin and Weyerhaeuser all announced growth plans to capitalize on the expanding timber industry as the real estate market recovers.

“The Shreveport-Bossier MSA has done an excellent job utilizing community partnerships to help grow and maintain local businesses, such as Honeywell Corporation and to recruit new businesses in the area, such as Benteler Steel/Tube and Ronpak.  Our goal is to innovatively strengthen and move the regional economy into the 21st Century,” said Lindora Baker, President of the Caddo Commission.

“We are very excited about being ranked in the top 10 category by the Business Facilities as a community that has demonstrated economic potential,” said Woody Wilson, Caddo Commission Administrator.

Additionally, economic indicators point to a resurgence of the Haynesville Shale. Production slowed last year when natural gas prices dropped to the lowest average annual price since 1999. However, many energy companies are anticipating a surge in natural gas prices in 2013. Chesapeake Energy recently opened a new field office in Mansfield, La.

“The DeSoto Parish Police Jury experienced first-hand the limitless potential that lies in the Haynesville Shale.  We’ve seen local investments here in our Parish as well as economic development projects elsewhere in the state tied directly to the Haynesville Shale. The Shale will continue to be an economic driver in the future,” said Steven Brown, DeSoto Parish Police Jury Administrator.

ABOUT NORTH LOUISIANA ECONOMIC PARTNERSHIP


NLEP is a public-private partnership dedicated to the positive and sustainable economic development of the 14 parishes it serves in North Louisiana. The NLEP and its many partners work with both existing and prospective companies to facilitate the attraction and retention of capital investment and meaningful job opportunities in our region.