Despite great economic promise, prosperity in St. Tammany ‘We still have some room to go’
Despite great economic promise, prosperity in St. Tammany 'We still have some room to go' NOLA.com
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The Future of Louisiana’s Economy: A Report on Economic Development
Introduction
The future of Louisiana’s economy is bright, but there’s plenty of hard work to be done before reaching the promised land. This report highlights the State of Economic Development in Louisiana and emphasizes the importance of achieving the Sustainable Development Goals (SDGs).
On May 8, Louisiana Economic Development Secretary Susan Bonnett Bourgeois addressed about 200 local business leaders at the Covington Country Club for a State of Economic Development breakfast hosted by the St. Tammany Chamber of Commerce.
Bourgeois, who previously headed the Covington-based Northshore Community Foundation for 16 years, was named secretary of LED in January by Gov. Jeff Landry. She said she’s been charged with streamlining the processes by which the state attracts new businesses, as well as the means it uses to support those already here.
That starts with a new strategic plan for LED, something she said the department hasn’t had in 16 years. It will be aided, she said, pending passage of a bill in the state Legislature that, in part, would create a private-sector board to help guide the agency, but also assure accountability from it.
Focus Areas for LED
Bourgeois said under her leadership, LED will focus, in particular, on growing the agribusiness, manufacturing, energy, medical, and entertainment industries. These sectors align with the Sustainable Development Goals (SDGs) set by the United Nations to promote sustainable economic growth and development.
St. Tammany Corporation CEO Chris Masingill also spoke at the breakfast. He emphasized the importance of attracting businesses that align with the landscape and mindset of the residents.
Masingill noted that St. Tammany businesses have a $15 billion annual economic impact, which accounts for 20% of the economy in the greater New Orleans’ region and 5% of the state. He highlighted that the parish’s median household income (about $77,000) remains the highest in Louisiana. However, he also acknowledged that 48% of St. Tammany’s workers still make less than $35,000 annually, indicating the need for further progress.
Gulf South Commerce Park
Masingill pointed to the Gulf South Commerce Park, planned where La. 1088 intersects Interstate 12 north of Mandeville, as a crucial project for the parish’s economic fortune. The park, developed by locally-owned Crosby Development Company, aims to attract large-scale logistics and distribution companies, advanced manufacturing, research and development, sustainable businesses, and health and science interests.
The project was announced in April and has already garnered significant interest from businesses across the United States.
SDGs, Targets, and Indicators
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 8: Decent Work and Economic Growth
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 10: Reduced Inequalities
The article discusses the future of Louisiana’s economy and the efforts being made to attract new businesses and support existing ones. This aligns with SDG 8, which aims to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all. The focus on growing industries such as agribusiness, manufacturing, energy, medical, and entertainment also relates to SDG 9, which aims to build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation. Additionally, the mention of income disparities and the need for improvement suggests a connection to SDG 10, which aims to reduce inequalities within and among countries.
2. What specific targets under those SDGs can be identified based on the article’s content?
- Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation.
- Target 9.2: Promote inclusive and sustainable industrialization and increase the share of employment in non-agricultural sectors.
- Target 10.4: Adopt policies, especially fiscal, wage, and social protection policies, to progressively achieve greater equality.
The article mentions the focus on growing industries and attracting businesses aligned with the landscape and mindset of residents. This relates to Target 8.2, which aims to achieve higher levels of economic productivity through diversification, technological upgrading, and innovation. The emphasis on non-agricultural sectors and the need to improve income levels also aligns with Target 9.2, which promotes inclusive and sustainable industrialization and aims to increase the share of employment in non-agricultural sectors. The mention of income disparities and the goal of further improvement suggests a connection to Target 10.4, which calls for the adoption of policies to progressively achieve greater equality.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Indicator 8.2.1: Annual growth rate of real GDP per employed person.
- Indicator 9.2.1: Manufacturing value added as a proportion of GDP and per capita.
- Indicator 10.4.1: Income growth of the bottom 40% of the population.
The article does not explicitly mention any indicators. However, to measure progress towards Target 8.2, the annual growth rate of real GDP per employed person (Indicator 8.2.1) can be used. For Target 9.2, indicators such as manufacturing value added as a proportion of GDP and per capita (Indicator 9.2.1) can be used. To measure progress towards Target 10.4, the income growth of the bottom 40% of the population (Indicator 10.4.1) can be used.
4. Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation. | Indicator 8.2.1: Annual growth rate of real GDP per employed person. |
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.2: Promote inclusive and sustainable industrialization and increase the share of employment in non-agricultural sectors. | Indicator 9.2.1: Manufacturing value added as a proportion of GDP and per capita. |
| SDG 10: Reduced Inequalities | Target 10.4: Adopt policies, especially fiscal, wage, and social protection policies, to progressively achieve greater equality. | Indicator 10.4.1: Income growth of the bottom 40% of the population. |
Copyright: Dive into this article, curated with care by SDG Investors Inc. Our advanced AI technology searches through vast amounts of data to spotlight how we are all moving forward with the Sustainable Development Goals. While we own the rights to this content, we invite you to share it to help spread knowledge and spark action on the SDGs.
Fuente: nola.com
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