The economy of the Southwest Louisiana Region is very diverse. Petrochemical and LNG industries are getting the most talk because of the billions in projects underway. The backbone of our region remains agriculture and forestry. Healthcare is growing and, in fact, currently employs more people than any other sector. Hospitality and gaming bring millions of people to our area each year and employ thousands.
At last week’s meeting of the Louisiana Commerce and Industry Board, several speakers presented a progress report on the Sasol Megaproject in Westlake. While there has been much discussion about the benefits of the state’s Industrial Tax Exemption Program, known as ITEP, when the facts are reviewed, there is no doubt this incentive has been beneficial to our region, to the state and local taxing districts and to the employees who now enjoy quality jobs and a better standard of living.