Cenla forecast to have best economy in decades for 2024-2025

ALEXANDRIA, La. (KALB) - For the past few years, investments in manufacturing and industry, specifically in the realm of renewable energy, have continued to make their way to Central Louisiana, setting up the region to have the best economic forecast in 25 years.

“We really are carving kind of a niche for the clean and green energy opportunities that are out there,” said Lafe Jones, vice president of Louisiana Central, an economic development organization that recruits, maintains and builds industry in the region.

Central Louisiana has been at the forefront of regions around the United States with new and existing industries looking to take advantage of federal tax credits through the Inflation Reduction Act for their clean energy transformation.

”It’s providing a great opportunity for Central Louisiana,” said Deborah Randolph, president of the Central Louisiana Regional Chamber of Commerce. “You’re seeing that sector choose to look at Central Louisiana because it’s located in a wood basket. Therefore, those are perfect locations for the green transition industry sector, and there’s an opportunity here for us to keep building off of that sector.”

Baton Rouge Economist Dr. Loren Scott expects that growth to depend heavily on business and industry leaning into those opportunities.

By 2027, Central Louisiana is expected to be home to three, big renewable energy facilities:

1. In Boyce, Cleco is investing $1.5 billion in Project Diamond Vault, a carbon capture sequestration project at Brame Energy Center.
2. In Pineville, SunGas Renewables Beaver Lake facility is investing $1.8 billion in a methanol plant.
3. In Alexandria, Ucore is set to invest $75 million at a rare earth facility at England Airpark.

All three investments were announced within the past two years.

“Our philosophy is that if the jobs are anywhere, we want them to be here,” explained Jones. “And so we’re staying focused on economic focused on it, trying to get out of the politics of the whole thing, and saying, ‘There are dollars that are available. There are investments being made. And we want to make sure that Central Louisiana has our share.’”

Adding to the positive projections are Alexandria’s foundational industries, which Scott calls the city’s solid “underbelly.”

“From a historical standpoint, a majority of job growth comes from existing industries,” said Jones.

Proctor and Gamble, Plastipak, Crest Industries and RoyOMartin are just a few businesses that are stable or expected to grow moving forward. Combined with new industry, the metro area’s job growth is expected to exceed peak employment set in 2008.

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