Economic Development Seeking diversification

Seeking diversification

Though the industrial sector will continue powering the Capital Region economy, there are promising opportunities in the health care and research technology markets. BY DAVID JACOBS

THOUGH THE HEALTH CARE

and public assistance sector provides the most jobs, the Capital Region’s most important economic drivers arguably are petrochemical manufacturing, industrial construction and government. When we think of Baton Rouge, these are the sectors that typically come to mind.

But the world is changing and while officials are happy to maintain those three legs on the local economic stool, a more diverse economy would do Baton Rouge and the rest of the state a lot of good. So, what might the future bring?

HOPEFUL OPPORTUNITY: There are numerous cancer research efforts underway in the Baton Rouge area, including one by LSU professor Elizabeth Martin, who is overseeing a group seeking better breast cancer treatment methods.

COLLIN RICHIE

ISTOCK

AGRICULTURE RESEARCH AND TECHNOLOGY

OK, SO IT’S hardly a new industry; people have been farming for 10,000 years. But there’s a growing world to feed and information technology can help the industry do it more efficiently and effectively. Bioproducts made from crops can be used for energy and consumer goods. Led by the LSU AgCenter, Baton Rouge ranks 10th in the U.S. for agricultural research-and-development spending, according to the Baton Rouge Area Chamber.

ENERGY EVOLUTION

BATON ROUGE IS positioned to be the “capital of low-carbon energy” due to its “geological makeup, immense plant network, and talent-ready workforce,” BRAC says. Though much of the region’s history has been built on fossil fuels, south Louisiana might have a chance to be a leader in the climate-driven energy transition.

DON KADAIR

CYBERSECURITY, SOFTWARE AND DIGITAL MEDIA

LSU PRESIDENT William Tate connects the university’s early history as the “Ole War Skule” to the current fight to protect information assets from digital thieves. Assuming state officials keep funding them, Louisiana can offer robust incentives for software and digital media companies that don’t have to pay major-market operating costs, though convincing knowledge workers to come and/or stay here is a challenge.

Jeff Moulton, an international cybersecurity expert, is president of Stephenson Technologies Corporation, a classified federal government contract resource for cybersecurity located at The Water Campus.

COLLIN RICHIE

Steve Ceulemans, executive director, Baton Rouge Health District

LIFE SCIENCES APPRECIATION

WHILE THE Pennington Biomedical Research Center has struggled to attract consistent funding, its potential as a research hub remains tantalizing. Cancer research holds promise, in part because of the region’s high rates of the disease. Collaboration among members of the Baton Rouge Health District theoretically could help attract large clinical trials and make the Capital Region more of a health care destination for patients and entrepreneurs from outside the region.

TIM MUELLER

IT’S ALL ABOUT LOGISTICS

BATON ROUGE already is home to more than 700 logistics companies representing more than 12,000 jobs, BRAC says. The presence of the Mississippi River, three mainline railroads, six interstate highways and a network of shallow and deepwater ports could help drive further growth in this sector.

COLLIN RICHIE

RIDING THE WATER AND COASTAL SCIENCES WAVE

BATON ROUGE already has more than its share of water-related jobs, and more growth in this sector is expected. Home to the Water Institute of the Gulf, the state’s Coastal Protection and Restoration Authority and the LSU Center for River Studies, the Capital Region could become an epicenter for expertise and execution in this space and help humanity learn how to better live with water.

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