News Summary
Dr. Loren C. Scott presented an economic outlook for the Shreveport-Bossier MSA, emphasizing job growth alongside potential recession risks. The area, heavily reliant on manufacturing, anticipates significant employment changes. Webster Parish’s reclassification as rural in 2025 may impact job statistics. Despite challenges, forecasts predict around 5,300 new jobs in the next two years, driven by companies like Amazon and the establishment of a SkyWest Airlines maintenance hub. Local wage growth is also outpacing southern Louisiana, but issues like high poverty rates remain.
Shreveport, Louisiana – Dr. Loren C. Scott, a prominent Louisiana economist, presented an economic outlook for northwest Louisiana on October 4 at the Port of Caddo-Bossier. His report highlighted both promising job growth and potential recession risks for the Shreveport-Bossier metropolitan statistical area (MSA), which is heavily reliant on manufacturing jobs.
The Port of Caddo-Bossier has been hosting an annual seminar designed for local public officials and business owners to discuss the economic prospects for the upcoming year. As Dr. Scott elaborated, the Shreveport-Bossier MSA, encompassing Caddo, Bossier, Webster, and DeSoto parishes, is predicted to experience significant changes in the coming years due to its substantial dependence on the manufacturing sector.
Current statistics indicate there are approximately 176,400 non-farming jobs across the four parishes. However, Webster Parish, which houses the notable Fibrebond manufacturing plant, is set to be reclassified as a “rural” area starting in 2025. This alteration will reduce the size of the MSA and could lead to a decrease in job statistics for the region.
Fibrebond plays a crucial role in northwest Louisiana’s economy. It is one of the largest producers of durable goods in the area, employing 640 full-time workers and managing 360 contractors. The ramifications of the 2025 exclusion of Webster Parish on job statistics were a prominent concern outlined by Scott.
Despite these challenges, the labor market outlook remains positive. Projections indicate the Shreveport-Bossier MSA will add approximately 5,300 jobs within the next two years, positioning the area as the fourth highest for job growth among Louisiana’s nine statistical regions. New employment opportunities are expected to arise from various companies, including Amazon, Troubled Muse, and SLB, which has taken over the former GM site.
Moreover, as reported by the Committee of 100 for Economic Development (C100), wages in north Louisiana are growing at a faster pace than in the southern part of the state. Since 2019, Louisiana has witnessed a 25% increase in wages, with north Louisiana experiencing a particularly robust 31% rise, while south Louisiana saw only a 10% increase.
Despite the upward trajectory in job numbers and wages, Louisiana still faces several economic hurdles. The C100 report highlighted ongoing issues such as elevated poverty rates, high insurance costs, an overall stagnant population growth, and the challenge of recuperating pre-COVID employment levels.
In addition to the job growth highlighted by Scott, new initiatives have been launched in the area. Justyn Dixon, President of the North Louisiana Economic Partnership, revealed the selection of Shreveport Regional Airport as the new maintenance base for SkyWest Airlines. This facility is anticipated to generate 150 direct jobs, with an average salary of $70,000, and an additional 375 indirect jobs, resulting in a total of around 525 new jobs for northwest Louisiana.
The decision to establish a SkyWest maintenance hub in Shreveport was influenced by local educational offerings, particularly the Airframe and Powerplant Maintenance programs provided at Southern University. Local officials, including Mayor Tom Arceneaux, expressed optimism that this project will not only enhance the quality of life in the area but also attract new residents and stimulate economic activity.
In conclusion, while the Shreveport-Bossier MSA shows signs of steady job growth and rising wages, it must navigate challenges stemming from its heavy dependence on the manufacturing sector and potential demographic shifts. The ongoing economic development initiatives, such as those connected to SkyWest Airlines and educational collaborations, will play a crucial role in shaping the region’s economic future in the coming years.
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Additional Resources
- Shreveport Times: Economic Outlook for North Louisiana
- Shreveport Bossier Advocate: Louisiana Economy Growth Report
- KTAL News: Economic Development Tour
- Encyclopedia Britannica: Economics
- Shreveport Times: Opinion on Oil and Gas Industry
- Google Search: Louisiana Economy 2025
Author: STAFF HERE SHREVEPORT WRITER
The SHREVEPORT STAFF WRITER represents the experienced team at HEREShreveport.com, your go-to source for actionable local news and information in Shreveport, Caddo Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mudbug Madness Festival, Red River Revel Arts Festival, and Independence Bowl. Our coverage extends to key organizations like the Shreveport-Bossier Chamber of Commerce and Shreveport Regional Arts Council, plus leading businesses in gaming, healthcare, and energy that power the local economy such as Horseshoe Casino, Ochsner LSU Health, and Atmos Energy. As part of the broader HERE network, including HEREBatonRouge.com and HERENewOrleans.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
