News Summary
The state of Louisiana has introduced a new High Impact Jobs program aimed at attracting skilled workers by offering financial incentives to businesses. Companies can receive up to 22% salary reimbursement for hiring local residents at competitive wages. This initiative follows the fall legislative tax session and seeks to stimulate economic growth. Companies like Exxon and Hyundai are part of this program, which also aims to improve job creation and wage growth across various parishes. Significant investments are expected in the state, further enhancing job opportunities for residents.
Shreveport, Louisiana – Louisiana has officially launched its new High Impact Jobs program, designed to provide incentives for companies to attract and retain skilled workers. The program was initiated following the fall 2024 legislative tax session and aims to foster economic growth in the state by encouraging businesses to hire local residents at competitive wages.
The High Impact Jobs program offers substantial financial incentives to companies of all sizes, from small businesses to major corporations such as Exxon, Meta, and Hyundai. Businesses hiring new full-time employees who receive pay at least 125% of the parish average wage can qualify for an 18% salary reimbursement for a period of up to five years. For companies offering salaries at 150% of the average wage, the reimbursement increases to 22%. This financial support is part of an extensive strategy to boost workforce participation and economic stability within the region.
For example, in Caddo Parish, the threshold for 125% of the average annual wage is approximately $70,316.25, whereas 150% equates to around $84,379.50. Different parishes have varying salary thresholds; Bossier Parish has a 125% average wage threshold of $63,935, Webster Parish at $61,082.50, and DeSoto Parish at $79,177. Additionally, businesses located in designated “distressed” census tracts can receive an 8% incentive for creating jobs that pay 110% of the parish average wage.
To qualify for the program, employees hired must be Louisiana residents, and companies are required to provide basic health benefits to their workforce. The state intends to track the success of the program by measuring increases in both wages and overall payroll, ensuring that residents benefit from higher-paying jobs. Furthermore, data will be collected regarding new job creation across parishes and legislative districts to evaluate effectiveness and allow for targeted improvements in the future.
Economic Development Secretary Susan B. Bourgeois stated that a period of three to five years of incentives should be sufficient to secure job creation and wage growth. Recent restructuring within the Louisiana Economic Development (LED) department has led to a significant increase in project pipelines, with the number of active projects tripling. This restructuring coincides with a projected influx of $50 billion in new investments in Louisiana anticipated by the end of the summer of 2025.
In line with these developments, SkyWest Airlines has chosen Shreveport Regional Airport for a new maintenance base, a project expected to create 150 direct jobs with an average salary projected at $70,000, which is 27% higher than the parish average wage. This announcement also suggests that the new facility may lead to approximately 375 indirect jobs, resulting in around 525 potential new jobs in the area.
The LED is also focusing its efforts on improving the business climate by analyzing current economic strategies to better attract new enterprises, particularly in the technology and life sciences sectors. Additionally, officials are seeking further funding from the state Legislature to establish dedicated site development and marketing funds, further enhancing efforts to stimulate employment and business opportunities across Louisiana.
As the High Impact Jobs program unfolds, its success could significantly impact Louisiana’s workforce landscape, contributing to increased job opportunities and higher wages for its residents.
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Additional Resources
- Shreveport Bossier Advocate
- Wikipedia: Economic Development
- KSLA News
- Google Search: Louisiana Economic Development
- NOLA.com
- Google Scholar: Louisiana Job Creation
- KTAL News
- Encyclopedia Britannica: Economic Development in Louisiana
- 710 KEEL
- Google News: Shreveport Economic Development
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.
