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Economic Outlook 2025

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SUNDAY, JANUARY 19, 2025

George’s Media: Navigating the Future of Journalism in Louisiana

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Kevin Hall

President and Publisher, Georges Media

s we head into 2025, Georges Media Group is poised to continue its evolution in a rapidly changing media landscape. Over the past year, we have expanded and adapted our coverage to meet the growing needs of our audience, while also positioning ourselves for future growth. With a dedicated team of over 400 strong employees, including expanded staffing in news, digital, and customer service, we are committed to providing high-quality, local content that serves the interests of our community. As the proud owner of esteemed brands such as The Times-Picayune, NOLA. com, The Advocate, The Acadiana Advocate, Gambit and the Shreveport -Bossier City Advocate, our journey reflects a commitment to preserving local journalism while embracing the winds of change. In recent years, our company has significantly expanded its coverage in areas critical to local communities, with a focus on health, education and business reporting. Health reporting has become a cornerstone of our offering, providing comprehensive insights to Louisianans. Equally important, our deepened focus on education filled a critical gap in local news. By amplifying stories that directly affect local families and educators, we have enhanced our role as a trusted source for information about education throughout Louisiana. Looking ahead to 2025, we plan to build on this momentum by further expanding our business coverage. We recognize the importance of providing in-depth reporting on local businesses, entrepreneurial developments, grand openings and regional economic trends. Our expanded business coverage will highlight the innovative solutions and growth that is happening in new ways around the state.

Despite our positive outlook, 2025 will present challenges. As artificial intelligence technology continues to advance, the news industry faces threats from AI-generated content that risks undermining the work of local reporters. The rise of AI in content creation has made it increasingly difficult to compete with algorithm-generated news and aggregated reports that lack the local insights and journalistic integrity we prioritize. Furthermore, the influence of social media platforms continues to reshape the media landscape, with legitimate news sources being marginalized. Social media giants have drastically reduced the visibility of local news outlets, affecting our ability to reach our audiences on these platforms. In response to these challenges, we remain steadfast in our commitment to local, authentic journalism. To address this, we will double down on building stronger relationships with our readers, enhancing our digital platforms including our apps to ensure our content reaches those who rely on us for relevant and timely updates. Additionally, we are exploring new ways to engage with our audience, including through newsletters, podcasts, and videos. The outlook for 2025 presents both opportunities and challenges, and as the leading Louisiana publisher, we are prepared to meet both with determination. Our expansion in health, education, and business reporting has allowed us to stay relevant and strengthen our ties to the community. We have seen growth in our subscriber base this past year and expect that that growth to accelerate in 2025. With a clear strategy for continued growth, we are confident that our media company will thrive even in the face of AI disruption and the evolving dynamics of social media. Our commitment to local journalism, informed by the voices and stories of Louisiana, will guide us forward as we continue to serve our local audiences.

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Billy Nungesser Lieutenant Governor, Louisiana Office of Tourism

s the fourth largest industry in the great state of Louisiana, hospitality and tourism means jobs. In 2023, the industry provided 220,500 jobs. Last year, 43 million people visited to experience our music, food, culture, history, and outdoor activities, including our state parks and festivals—generating $1.9 billion in state and local taxes, translating to nearly $1,100 in tax savings per household. Our international visitation is also growing. From 20222023, international visitation increased by more than 16 percent. While Canada, United Kingdom, Australia, France, and Germany are our top five international markets, the Louisiana Office of Tourism, through assistance from a U.S. Department of Commerce grant, is targeting emerging markets such as Italy, Spain and India. With more than 22 million Indians traveling the world, they are the largest group of international travelers from Asia. We know international visitors stay longer and spend more in every corner of the state, and we are working to benefit from that economic boon. Louisiana also continues participating in events that put her on national and international stages. We kicked off the Mardi Gras season for a fourth consecutive year by participating in the 2025 Rose Parade. In previous years, Louisiana’s participation reached an estimated 4.3 billion viewers and earned nearly $40 million in advertising value. New Orleans will soon host its 11th Super Bowl, tying Miami for the most number of Super Bowls. The last Super Bowl hosted in New Orleans in 2013 brought Louisiana an estimated $480 million in economic impact. Tourism has a huge impact on Louisiana, and we will continue to treat visitors like family and keep them coming back for more.

Susan B. Bourgeois, Secretary, Louisiana Economic Development

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Denise Bottcher State Director, AARP Louisiana

ARP, the nation’s largest nonprofit, nonpartisan organization, is dedicated to empowering people to choose how they live as they age. Our mission centers on strengthening communities and advocating for what matters most to families—health security, financial stability, and personal fulfillment. In Louisiana, we understand the strain families face from inflation, soaring utility bills, and the escalating costs of home insurance and other essentials. Despite these challenges, our state’s economy continues to show resilience and opportunities for growth. AARP is committed to standing by older adults as they adapt to these evolving circumstances. As we look toward 2025, AARP will remain a wise friend and fierce defender for older Louisianans. We are focused on helping individuals age in place, surrounded by the comfort of their homes and communities. This commitment includes advancing affordable housing, protecting against fraud, supporting family caregivers, and ensuring access to quality healthcare. By working together, we can address today’s challenges, seize opportunities, and build sustainable solutions for stronger, thriving communities. AARP is dedicated to creating a brighter, more secure future for all Louisianans.

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conomic growth remains steady in Ascension Parish, with a positive outlook projected for the next five years. In commercial and industrial capital investment, construction on $2 billion worth of projects is set to wrap up in the first quarter of 2025. Meanwhile, work has just begun with $6 billion in new projects, and decisions are pending on an additional $14 billion in potential investments. Over the past five years, employment has increased by 7%, while wages have risen by an impressive 19%, with manufacturing occupations leading the way in offering the highest wages. Recently, Ascension Parish was ranked the Best Place to Live (Niche), the healthiest Parish in LA (Robert Wood Johnson Foundation), the second-longest life expectancy in LA (Stacker), the highest median household income in the state, and the top-performing sizeable public school district. Ascension Parish Government is committed to enhancing the quality of life for our residents and the business community by continually raising expectations and positive outcomes.

Clint Cointment Parish President, Ascension Parish

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Chris Daigle Parish President, Iberville Parish Government

s we wrap up 2024, I reflect on what has been an incredible first year as Iberville’s Parish President. It’s an honor to serve as only the second Parish President in 26 years, and I’m proud of the strides we’ve made together toward a brighter future for Iberville Parish. One of our top priorities remains the new Mississippi River Bridge—a project that is crucial for the Baton Rouge area and Iberville Parish. As one of the only parishes along the river without a bridge, this infrastructure will bring much-needed relief to traffic congestion while creating new opportunities for growth across the region. We are still waiting on the results of the environmental impact study, which is expected to be completed by the first quarter of 2025. This study will determine where the bridge will be built in Iberville Parish, and we remain steadfast in our advocacy for funding and progress on this critical project. Looking ahead, we are laying the groundwork for a future master plan that prioritizes small business development and smart growth. Our vision includes attracting the businesses and services our residents deserve while ensuring that all development reflects the needs and values of Iberville Parish. I see a bright future for Iberville Parish and am committed to keeping residents at the heart of every decision. Together, we’ll continue to build on this year’s successes and work toward an even better tomorrow. Wishing you and your family a happy and prosperous New Year!

ouisiana’s economic outlook for 2025 can be summed up in a single word: Opportunity. The passage of Act 590 during the 2024 Legislative Session that restructured LED, and the tax reform passed in the special session last fall, were monumental steps forward in giving economic developers the tools we need to position Louisiana to compete and win. By embracing innovation and diversification while leveraging our natural resources, Louisiana is demonstrating that legacy industries like energy and manufacturing can continue to thrive even as we seize investment and job creation opportunities in emerging sectors. A perfect case in point is Meta’s recently announced $10 billion project to build its largest artificial intelligence data center in the world in Richland Parish. Meta’s huge investment is expected to create more than 1,500 new direct and indirect technologyrelated jobs in a corner of the state best known for its agricultural traditions. With site development underway and construction expected to continue through 2030, the Meta project is already sparking new economic activity in north Louisiana as businesses large and small seek to benefit from the billions of dollars flowing through the region. This historic project is just the beginning of a bold strategy to drive economic growth statewide through innovation, and to prove to the world that when Louisiana says that we are ready to compete on the global stage, we mean business. We are just getting started. The Louisiana opportunity is now!

Lori Melancon President & CEO, Baton Rouge Area Chamber

he energy and chemicals industries remain a vital part of our economy, driving industrial growth, creating jobs, and fueling economic progress. In 2024, the Baton Rouge metro eclipsed more than 426,000 jobs, an all-time high for the region, many thanks to our growing energy and chemicals sectors. Job growth in the region has been incredibly robust in post-pandemic years, regularly outperforming national projections. As companies consider investment in low-carbon products, we are leveraging opportunities in energy innovation and sustainable technologies to ensure continued success. As energy and chemicals companies consider investment in new technologies, BRAC is strategically positioning the region to lead in industrial innovation, digitalization, and sustainable products. The region is actively fostering growth in advanced manufacturing and high-growth energy sub-sectors, supported by a $35 billion economic development project pipeline. These projects include investments in renewable energy, hydrogen, ammonia, carbon capture utilization and storage (CCUS) technologies, and sustainable fuels, which will diversify the industrial base and reduce environmental emissions. Additionally, transformative quality-of-life enhancements are on the horizon for the Baton Rouge Area. Plan BR III will collaborate with a leading planning firm to reinvigorate downtown development, while plans for new entertainment venues, including the upgraded River Center and proposed LSU arena, are expected in 2025. These investments will enhance the region’s livability, creating a vibrant environment where businesses and professionals can thrive. This year will mark a pivotal period of progress, as the region builds its competitive edge to attract and retain business investment and top-tier talent.


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