News Summary
Governor Jeff Landry has introduced a strategic economic development plan in Natchitoches, aimed at revitalizing Louisiana’s economy. This initiative, named ‘Nine by Ninety,’ outlines specific actions to attract new investments and support local businesses, including increased funding for tech startups and a focus on enhancing community resources. Alongside this, efforts will be made to connect local vendors with out-of-state companies, while also addressing job losses due to recent closures. The state emphasizes collaboration to enhance economic growth across various sectors.
Natchitoches, Louisiana – On February 25, 2025, Governor Jeff Landry engaged with local leaders at Northwestern State University to unveil a comprehensive economic development plan aimed at revitalizing Louisiana’s economy. This initiative, introduced by Louisiana Economic Development (LED) Secretary Susan Bourgeois, is part of a broader strategy designed to transform Louisiana into the most innovative and high-growth economy in the Southeast.
The plan, coined “Nine by Ninety,” celebrates LED’s 90th anniversary in 2026 and outlines over a dozen specific actions to attract new investments and support existing businesses over the next 18 months. A significant element of this initiative is the creation of a database to connect Louisiana businesses with out-of-state companies seeking local vendors. This effort aims to facilitate partnerships that can drive economic growth.
LED also plans to initiate a media campaign to promote Louisiana’s economic opportunities, both to residents and potential investors outside the state. Additionally, the agency is looking to recruit 20-30 C-suite executives to serve as advisers, thereby increasing expertise and leadership within the economic development landscape.
Another key focus of this strategic plan is to bolster funding for early-stage technology companies. LED aims to increase available capital by 200%, establishing seed-stage capital funds under the new division known as Louisiana Innovation (LA.IO). The Louisiana Growth Fund is set to utilize $50 million in federal resources to invest specifically in local tech enterprises instead of attracting out-of-state firms.
LED’s initiatives include enhancing existing Louisiana businesses through “economic stewardship visits” with 800 essential companies each year, ensuring they have the necessary resources and support to thrive. Moreover, the agency is promoting legislation for a new site development fund which received $150 million in funding during the last legislative session, focused on encouraging private sector projects.
The meeting in Natchitoches was overshadowed by the recent announcement of the closure of International Paper’s Red River Mill in Campti, which will lead to approximately 450 job losses. Governor Landry acknowledged the significant economic implications of this closure and expressed a commitment to constructing new job opportunities in central and northern Louisiana. To mitigate the impact of this closure, the Louisiana Workforce Commission is mobilizing a rapid response team to assist the affected workers with career counseling and training options.
In addition, Bourbon noted that there are currently five active wood-related projects in north Louisiana aimed at fostering economic transition in the region. The new economic development plan utilizes a “whole-of-government” approach, encouraging collaboration across various sectors to address business challenges effectively.
Key elements of the report created under LED highlight the need for substantial incentives for businesses offering wages above state benchmarks. Furthermore, there is a pronounced emphasis on site development in rural regions, essential for fostering business growth outside major urban areas.
LED’s strategy is strategically targeting sectors poised for growth, such as energy, technology, life sciences, and logistics. These sectors are identified as vital to overcoming ongoing economic challenges, including population outmigration and lower rates of corporate research and development spending. The initiative marks an attempt to respond to Louisiana’s struggles with critical economic indicators when compared to neighboring states.
The economic development plan embraces innovative strategies, integrating advanced tools like artificial intelligence and targeted international marketing to enhance its effectiveness. With these combined efforts, Louisiana aims to reverse its current economic trends and build a sustainable future for its workforce and businesses.
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Additional Resources
- NOLA: Louisiana Economic Development Unveils Action Plan
- Wikipedia: Economic Development
- KALB: Gov. Landry Visits Natchitoches Ahead of Mill Closure
- Google Search: Natchitoches Louisiana
- NOLA: Louisiana Unveils New Economic Development Strategy
- Google Scholar: Louisiana Economic Development
- New Orleans City Business: Louisiana Paper Mill to Close
- Encyclopedia Britannica: Louisiana Economy
- Oxford Eagle: Maynard Turns Focus to Private Company
- Google News: Louisiana Economic Development
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