The Shreveport-Bossier Metropolitan Statistical Area (MSA), which includes all of Caddo, Bossier and DeSoto Parishes, earned the no. 9 spot on Business Facilities’ 9th Annual Rankings Report.
Business Facilities, a leading economic development journal, ranked Shreveport-Bossier in the top ten when comes to economic potential. The magazine looked at metros with dynamic new growth sectors which were thriving alongside their traditional industry strengths.
“This is great news and indicative of what we have to offer the business world. From cyber to the film industry, Bossier City-Shreveport is a diverse area in terms of economic development. Our two cities may be separated by a river but together we share the commitment to strengthen our local economy by fostering an environment conducive to business growth and job creation,” said Mayor Lorenz Walker, Bossier City.
Business Facilities points to Shreveport-Bossier’s booming digital media hub as one of the hottest new growth sectors in the nation. Oscars-winning Moonbot Studios, an animation and visual effects studio, helped put its hometown of Shreveport on the global digital media map.
“Our area’s growth and success can be attributed to the continued cooperation among the various entities to make things happen. An environment of collaboration and teamwork creates a pro-business atmosphere which companies appreciate and understand. This is a great place to do business and achieve financial sustainability, which is the bottom line for anyone wishing to start or expand their business,” said Jimmy Cochran, Bossier Parish Police Jury President.
Benteler Steel/Tube announced a new steel tube mill at the Port of Caddo-Bossier. The $900 million investment represents the second largest American investment during 2012. Elio Motors plans to build a next generation, three-wheeled car at the shuttered GM plant. Idaho Timber, RoyOMartin and Weyerhaeuser all announced growth plans to capitalize on the expanding timber industry as the real estate market recovers.
Additionally, economic indicators point to a resurgence of the Haynesville Shale. Production slowed last year when natural gas prices dropped to the lowest average annual price since 1999. However, many energy companies are anticipating a surge in natural gas prices in 2013.