Louisiana’s Energy Advantages
Louisiana’s existing assets offer tremendous opportunities for companies manufacturing products or delivering services to the energy industry. More than 80 percent of waterborne U.S. oil rigs are located in waters off Louisiana's coast, and according to the Energy Information Administration the state is No. 2 in crude oil and No. 3 natural gas production in the nation (when including offshore production).
Louisiana’s established agriculture industry offers diverse alternatives to emerging clean technology companies. At the same time, skilled manufacturing talent and low company costs are benefiting manufacturers of components and designers of software critical to the efficient generation, transmission and distribution of energy. Recognizing the state’s compelling advantages, companies such as Halliburton and Newpark Resources are establishing or expanding operations in Louisiana.
At the core of Louisiana’s competitive advantages is the strength of its business climate. In recent years, the state has enacted reforms to create an atmosphere that Forbes magazine calls “America’s new frontier for business opportunity.” Louisiana now ranks in the Top 10 states for business climate in the U.S., according to Area Development, Development Counsellors International and Site Selection.
“In our experience, Louisiana is a state that understands the challenges of modern business, particularly those challenges encountered by the energy and chemical sectors. As a result of this understanding, LED has created an environment which it attracts new business and provides the private sector with the opportunity to expand and flourish.”