Shreveport, LA, September 5, 2025
News Summary
Shreveport’s economic outlook appears cautiously optimistic for 2023, as key indicators such as stable unemployment rates, growing casino revenues, and increasing airport passenger numbers paint a positive picture. Economic development efforts, including a major investment by Prolec GE creating over 270 jobs, support this optimism. Although inflation has moderated, consumer prices remain high, affecting buying power. Local initiatives aim to foster economic growth and support small businesses amidst mixed economic signals, suggesting steady progress in the region.
Shreveport Economic Outlook
Shreveport’s economic outlook for 2023 appears cautiously optimistic as a recent report indicates steady conditions amid mixed economic indicators. Douglas White, the director of the Center of Business and Economic Research at LSU Shreveport, delivered an economic snapshot for Caddo, Bossier, and DeSoto Parishes during a speech to the Greater Shreveport Chamber of Commerce.
White’s assessment of the local economy likened its performance to the fable of the tortoise and the hare, emphasizing a “slow and steady” approach. Notable indicators from his report include the success of local casinos, rising passenger numbers at the Shreveport Regional Airport, and steady unemployment rates.
Key Economic Indicators
Local casinos, particularly Live! Casino and Resort Louisiana, which opened in early February 2025, have contributed to an increase in casino revenues. The initial revenue growth from the new land-based casino has been significant, although these spikes are beginning to stabilize, making it premature to predict its long-term impact on the regional economy.
Additionally, Shreveport Regional Airport has reported a year-over-year increase in passenger enplanements, signaling a positive trend for both travel and tourism sectors in the area. Meanwhile, local unemployment rates hover around 5% or slightly higher. These figures suggest a stable job market, although there is concern that rising unemployment could prompt the Federal Reserve to adjust interest rates downward in September.
Inflation and Consumer Spending
The inflation rate has cooled to approximately 2.6%-2.7%, down considerably from its peak of 9.1%. However, despite this moderation, consumer prices remain elevated, impacting overall buying power. Sales tax data points to sustained consumer spending, indicating that residents continue to engage with the local economy.
Current interest rates are around 6%, which has led to a decrease in homebuying activity. However, the local housing market has shown resilience in pricing despite these concerns. Potential buyers are encouraged to consider purchasing or refinancing as interest rates are expected to lower in the future.
Industrial Developments
New industrial developments also contribute to the regional economic landscape, including a significant expansion by Prolec GE in Caddo Parish. This expansion involves a new production line for energy infrastructure, representing a $34 million investment that will create over 270 new jobs. The facility aims to produce more than 1,500 transformer units annually, thereby supporting the shift towards renewable energy and contributing positively to the local job market.
Community Initiatives
Local initiatives are underway to bolster economic growth through housing developments and support for small businesses. Economic development director Bill Sabo has highlighted the importance of reducing bureaucratic hurdles to facilitate smoother business operations. Community efforts are aimed at fostering neighborhood pride and attracting new residents and businesses to Shreveport.
In conclusion, while the Shreveport region is experiencing mixed economic signals, the overall outlook remains steady with cautious optimism. As local initiatives gain traction and more businesses stabilize, the economic landscape for the upcoming years shows promise.
FAQ
What is the current unemployment rate in the Shreveport area?
The current unemployment rate in the Shreveport area is approximately 5% or slightly higher.
How has the inflation rate changed recently?
The inflation rate has moderated to around 2.6%-2.7%, a significant decrease from its peak of 9.1%.
What is the status of the housing market in Shreveport?
Despite concerns over interest rates, the local housing market remains consistent and resilient in pricing.
What developments are contributing to job creation in Shreveport?
A recent expansion by Prolec GE in Caddo Parish is creating over 270 new jobs, focusing on energy infrastructure.
What initiatives are being implemented to support small businesses?
Local initiatives aim to ease bureaucratic processes for businesses while promoting housing developments and community pride.
Chart of Economic Indicators
| Economic Indicator | Current Status | Notes |
|---|---|---|
| Unemployment Rate | Approximately 5% | Stable but could rise |
| Inflation Rate | 2.6%-2.7% | Moderated from 9.1% |
| Interest Rates | Around 6% | Deterring potential homebuyers |
| Casino Revenue | Increasing | Due to Live! Casino’s opening |
| Airport Passenger Growth | Year-over-year increases | Positive trend for travel sector |
| Job Creation | 270 jobs from Prolec GE expansion | Focusing on energy infrastructure |
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Additional Resources
- Shreveport-Bossier Advocate
- KTBS News
- KSLA News
- Wikipedia: Economy of Shreveport
- Encyclopedia Britannica: Shreveport
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.
