Driving Louisiana’s Industrial Growth

A Powerhouse in the Energy Transition and Economic Development

Billion Dollars in Industrial Projects

Jobs Created

%

of Total Property Taxes

Ascension Parish’s Economic Impact

Since 2006, Ascension Parish has attracted over $17.8 billion in capital investment from new and expanding enterprises, resulting in the creation of more than 3,677 direct new jobs (Source: 2022 Annual Comprehensive Financial Report). Industry plays a vital role in the parish, contributing nearly 24% of property taxes. The top 10 property taxpayers are all industrial businesses, underscoring their importance to the local economy.

These property tax revenues support a range of essential services, including:

Drainage Districts
Lighting Districts
Health and Welfare
Library Maintenance
Fire Protection District No. 3
Juvenile Detention
Animal Control
Ascension Consolidated Utility District #1
River and Levee Districts
School Districts
Assessment Districts
Law Enforcement Districts
Road Districts

Industrial companies also form a significant portion of the parish’s top employers. Among the top five, three are major industrial players:

BASF Corporation
Shell Chemical
CF Industries

This strong industrial presence not only drives economic growth but also supports a wide array of public services and infrastructure, reinforcing Ascension Parish’s role as a key economic hub.

A Global Leader in Energy Transition

Louisiana stands at the forefront of the global energy transition, thanks to its extensive infrastructure and strategic investments. With the world’s largest pipeline network, a robust multi-modal transport system, advanced geologic storage capabilities, and a significant presence of refineries, Louisiana is uniquely positioned to lead in clean energy innovation. Leveraging these assets, the state is poised to create thousands of clean energy jobs, reduce its carbon footprint, and attract billions in additional economic investments.

Participating in the energy transition not only enhances Louisiana’s economic prospects but also reduces reliance on foreign energy sources, bolstering national security and supporting domestic production. Current projections highlight $33.8 billion in industrial projects under construction and $120.6 billion in announced projects statewide. These developments underscore Louisiana’s potential to pioneer new technologies that advance global carbon reduction goals while invigorating the state and local economies.

Fast fact

Since the passage of the Bipartisan Infrastructure Law and the Inflation Reduction Act, Louisiana has received more than 1.4 billion in federal investments in clean energy, power grid, direct air capture, electric vehicles and charging infrastructure, plugging of orphaned wells, and more. (Source: LA Economic Forecast, Loren Scott)

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Driving Job Growth and Economic Opportunity

In 2023, Louisiana saw a significant boost in economic activity, with over $14.3 billion in capital investment leading to an anticipated creation of 11,517 new jobs. These investments in emission reduction technologies are setting the stage for a more sustainable future, solidifying Louisiana’s position as a leader in green innovation. Over the past six years, private sector commitments have exceeded $55 billion in capital expenditures for low-carbon and carbon-free projects in the state, projected to generate approximately 25,000 jobs.

These new opportunities are encouraging graduates and skilled workers to remain in Louisiana, fostering local talent and contributing to a cleaner, more prosperous future. The industrial sector not only offers high-paying, reliable jobs—many of which do not require a college degree—but also supports both permanent and temporary construction roles. Additionally, it provides substantial growth opportunities for local industrial support companies, enhancing economic development throughout the region.

Impact of Industrial Taxes on Louisiana’s Economy

Louisiana’s economic landscape is experiencing a significant uplift due to robust support for the oil and gas industries, alongside advancements in alternative energy sources like hydrogen, solar, and wind. The state’s focus on electric vehicle battery production and CO2 reduction technologies is not only creating thousands of jobs but also attracting billions in private investment.

A critical component of Louisiana’s local economy is its industrial tax base, particularly in parishes with high industrial activity. These industries—spanning petrochemicals, oil and gas, paper, and manufacturing—contribute 67% of the total property taxes collected in the state. This substantial tax revenue is essential for funding public facilities and government services.

Without this industrial tax base, communities would face considerable challenges. The decline in jobs, vendors, and ancillary services could lead to a decrease in local opportunities, potentially driving residents to seek better prospects elsewhere. The ongoing support and investment in these sectors are vital for sustaining and enhancing the quality of life in Louisiana’s industrial regions.

Leading the Energy Transition in Louisiana

Decarbonization is crucial for achieving global net-zero greenhouse gas emissions, and its impact extends to local economies. To manage the high costs associated with this transition, companies are leveraging federal funds to make upfront investments in lower-carbon energy sectors. This approach not only fosters job creation in clean energy industries but also benefits both the economy and the environment.

In Louisiana, $117.7 billion in Carbon Capture Storage (CCS) projects are awaiting final investment decisions, with the state’s geological features making it an ideal location for these initiatives. By capitalizing on these opportunities, Louisiana can continue to lead in energy innovation while generating clean energy jobs and paving the way for a sustainable future.

Additionally, Louisiana’s potential for hydrogen production—a process that emits minimal to no carbon—offers significant economic and environmental benefits. The state is also making strides in other clean energy sources like solar and wind. With over 60 solar companies operating locally, Louisiana currently supports 3,000 jobs in the solar sector and has the potential to create over 7,000 additional jobs, further advancing its role in the energy transition.

Community Benefits

When a new project is proposed, local communities can facilitate and establish community benefit agreements that detail the types of investments the company agrees to provide to benefit the members of the community, especially those who are directly impacted by the project.

Companies should do extensive research and outreach to ensure local community members are involved in shaping their investment plans, which in turn can help ensure a higher level of certainty that the investment will result in tangible economic and social benefits to affected disadvantaged communities.

By embracing advancements in cleaner manufacturing technologies, educating the public on science-based facts and impacts, and supporting new projects, we can position Louisiana as a global leader in energy and create a brighter, cleaner, and safer future for all.

Interested in Learning More?

For more detailed insights into Louisiana industry and its impact, read the full Energy Made Easy report.

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Clean Energy

Louisiana, with its longstanding leadership in energy, is well-positioned to lead the global transition to clean energy, creating jobs, reducing carbon emissions, and promoting sustainability. Read more about clean energy technology.

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Why Industry?

Read how the industrial sector in Louisiana is crucial for economic growth, job creation, and producing essential life-changing products that impact both the community and the world.

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