BIZ. BUSINESS JOURNAL FOR NWLA
BUSINESS INTERACTIONS
Eating with people again
Casual business dining isn’t the same as at home. PAGE 34
THE REPORT
History of the ShreveportBossier economy PAGE 28
OCTOBER 2020
SHREVEPORT-BOSSIER'S ECONOMY EMERGING FROM
the dip
Economist Dr. Loren Scott, along with local experts give a report on the good, the bad, the ugly, and the future as northwest Louisiana pivots and improvises in the midst of a challenging 2020. STARTING ON PAGE 3
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FROM THE PUBLISHER q
Progress is about emerging from ‘The Dip’
BIZ. TEAM
Editor & Publisher David Specht dspecht@bizmagsb.com Chief Financial Officer Kelly May Account Representatives Randy Brown Chris Sepeda Special Contributors Angie White Dr. Les Guice Lisa Johnson Dr. Larry Clark Dr. Tim Magner Terri Haynes Contact Website: bizmagsb.com Phone: 318-747-7900 Address: 6346 Venecia Dr. Bossier City, LA 71111 Social Media: Follow @bizmagsb on Twitter, Facebook, & LinkedIn Subscribe
SPECHT
like. “Every new project (or job, or hobby, or company) starts out fun…then gets really hard, and not much fun at all. You might be in a Dip—a temporary setback that will get better if you keep pushing. But maybe it’s really a Cul-de-Sac—a total dead end. What really sets superstars apart is the ability to tell the two apart,” excerpt from The Dip.
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Sign up for free at bizmagsb.com/dailyreport/ Related Links Bossier Press-Tribune: bossierpress.com Minden Press-Herald: press-herald.com Copyright © 2020 by Specht Newspapers Inc. All rights reserved. Information in this publication is gathered from sources considered to be reliable, but the accuracy and completeness of the information cannot be guaranteed. BIZ. Magazine is located at 6346 Venecia Dr., Bossier City, LA 71111.
tell the story behind the numbers. Our columnists break down what it means to emerge from the dip and move forward, knowing that there will be other dips in the future. We are truly blessed to have their expertise in this edition. As you read this edition, keep in mind the story is being written each and every day. Climbing out of our dip will take time, but there is a unified effort to make it happen. Sometimes “progress” is a giant leap. Most of the time, it is one small step. Progress 2020 showcases the steps, and the future. Let’s climb out of this dip together. DAVID SPECHT | PRESIDENT OF SPECHT NEWSPAPERS, INC.
Flexibility leads to economic growth in Bossier
Print: $24
Daily Report
The year 2020 has been a dip of dramatic proportions, and Louisiana has been one of the hardest hit states. No one could have predicted the shutdown brought on by the COVID-19 pandemic, and hurricanes always pose a threat to our economy. The toll has been great, and the numbers reflect that. However, over the past six months, we have also seen many signs of resiliency. Businesses have pivoted and adapted. Entire industries have been born, or reborn. Our economy is emerging from “the dip.” With that in mind, we present BIZ. Progress 2020, an economic overview of the Shreveport-Bossier market — and beyond. On the pages that follow, readers will find comprehensive market data, along with graphics that really
BOSSIER CHAMBER OF COMMERCE q
Online:$48
*Chamber members RECEIVE 1 free subscription
In 2007, business and marketing guru Seth Godin wrote a little book titled, “The Dip: A Little Book That Teaches You When to Quit (and When to Stick).” In it, Godin describes what a dip looks
JOHNSON
As we all continue the work to make Bossier a great place to live, work, play and learn, we only need to combine our efforts to work together to be successful and really make our area
SHINE! Just know that while the vision for 2020 may seem a little blurry, that doesn’t mean it isn’t there. We all just have to change our focus a little bit to find what we are really meant to see – and learn – to make it an even more prosperous decade for ourselves, our businesses and our community. While the vision of 2020 and the subsequent decade may look a little different than we had all planned, there are so many positives to take out of our past year, namely the growth and flexibility we have all
“
Businesses and our community members have felt the need for this flexibility in different avenues from virtual working environments to more focus on digital platforms and social media.
worked through, and many times, thrived in. “F l e x i b i l i t y” has been a main cornerstone for success this year. During the COVID-19 pandemic, the need for this value has been amplified and become a cornerstone for businesses that have been successful in keeping operations and bottom lines steady. Businesses and our community members have felt the
need for this flexibility in different avenues from virtual working environments to more focus on digital platforms and social media. But can’t all of this change be a good thing? We think so. Change means GROWTH. And growth means we are thriving. And we continue to see it. Businesses are adapting to a new normal everyday meanwhile increasing their productivity and customer service along the way. The growth doesn’t stop there. We are continuing to see NEW businesses open during one of the most trying years in recent history. When a community is on the grow, even tough times can’t keep them down. Remember, diamonds need pressure to become the coveted gems they are! We can all become better by working through these trying times. LISA JOHNSON | PRESIDENT & CEO OF THE BOSSIER CHAMBER OF COMMERCE.
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OCT 2020
HIGHER EDUCATION LOUISIANA TECH UNIVERSITY q
COVID-19 has fostered innovation
LOUISIANA TECH’S MISSION
As a selective-admissions, comprehensive public university, Louisiana Tech is committed to quality in teaching, research, creative activity, public service, and workforce/ economic development. Louisiana Tech maintains as its highest priority the education and development of its students in a challenging, yet safe and supportive, diverse community of learners.
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The COVID-19 pandemic has required innovative work from Louisiana Tech University’s faculty and staff to deliver quality academic programs and coGUICE curricular activities that will enrich those programs while adhering to our health and safety guidelines. Our students come to Tech not only for our strong academic programs, they also choose to be a part of our family because those programs are supported by seminars, organizations, and internships that help complete their educational journeys. These opportunities help create the unparalleled educational experience that’s a hallmark of Louisiana Tech. For seven years, many in the area
have enjoyed the University’s New Frontiers in Biomedical Research Seminar Series. Its co-founders, Dr. Mary Caldorera-Moore and Dr. Jamie Newman, have worked to bring in nationally known researchers and speakers to address the latest topics in medicine, science, and research. The series was designed to bring experts to Louisiana Tech who will help build research programs, expand collaborative networks, introduce students to opportunities in various areas of biomedical research and share knowledge with the community. This year, there has been a single scientific topic that has impacted everyone in the world – COVID-19. Gathering limits in the wake of the pandemic have forced Dr. Newman and Dr. Caldorera-Moore to reframe New Frontiers. The seminar series will now be online and will focus on the impact and outcomes of COVID-19. Where in the past we have been
limited by proximity and the ability for people to make it to campus, both as invited speakers and members of the audience, this year we are able to expand our guest list. We can also invite anyone – anywhere in the world – to join in viewing these events, to submit questions for our guests, or to share in the recorded event at a later date. Our next seminar will be held at 3:30 p.m. CST Nov. 2. It will focus on Diagnostics, Treatments, and Vaccines for SARS-CoV2 & COVID-19 and will feature Dr. Krish Roy of Georgia Tech, Dr. Byron Crawford of the LSU School of Medicine-Shreveport, and Dr. Rodney Rohde of Texas State University. You can register free for the seminar. Please join us this year to learn more about cutting-edge, multidisciplinary research and discovery. DR. LES GUICE | PRESIDENT, LOUISIANA TECH UNIVERSITY
HIGHER EDUCATION LOUISIANA STATE UNIVERSITY - SHREVEPORT q
The only constant during a year like 2020 is change Back in the early nineties, when I was the Dean of the College of Business at LSUS, I oversaw the installation of a large satellite dish on the south side of campus. The idea was to allow LSUS CLARK to host national speakers virtually, beaming them live via satellite technology to our campus and community. At the time it seemed like a revolutionary idea for a university of our size, and certainly one that put us on pace with the changing times. Alas, after years of use, the dish slowly faded into obsolescence as time and technology marched on. In the midst of a global pandemic, almost three decades later, my plan to bring people virtually to our campus back then seems prescient. However, it would be disingenuous of me to even suggest that what we are experiencing now is anything
close to what I had in mind back then. This pandemic has continued to challenge us in new and unexpected ways. It has forced our university community to adapt existing models, often with limited information and time. It has not been easy, and for now, the only thing we are certain of is that things will continue to evolve in the months ahead. As I mentioned in an earlier column, we were fortunate that our expertise in online education helped us transition to remote learning in the spring and summer. As part of our academic offerings during the fall semester, virtual classes are once again widely available for students who are uncomfortable being on campus due to the risks associated with COVID-19. Just like in 1992, we are building out our campus infrastructure to meet students where they are, albeit with a slightly different configuration. In August, we hosted our first virtual graduation, featuring acclaimed author Jacqueline Woodson as our keynote speaker. Ms. Woodson delivered her address from upstate
New York, as part of a larger commencement program that included individual addresses from LSUS leadership, and then beamed out to LSUS graduating seniors, their parents, extended families, and friends all over the world. Logistically, it presented quite a few challenges, but we are better for it, and we are once again gearing up for a virtual graduation in December. In another virtual milestone, we hosted a Black Lives Matter Town Hall event this month, with a group of panelists from the region discussing the topics of Education and Healthcare. The event was broadcast live on Facebook, and we had to juggle Phase 2 protocols for the personnel involved in the program along with the logistical challenges of dynamically capturing and broadcasting this important event. In addition to its success as a vital social conversation, it gave us a template for hosting future conferences and Town Halls within our space, just as we are beginning to welcome the wider community back to our campus during Phase 3.
LSUS is a hub of this community, and in many ways the challenges we face on campus are the same ones faced all across our region. We know now that adaptability is the key to thriving in this time. Our community must move forward and we must do so in a thoughtful, strategic, and careful manner, to protect each other’s welfare as best we can. Just as we did in the early nineties, we are once again preparing to bring the community and the world to LSUS. There will be a time when this pandemic will be a part of our collective history, and how we adapt now will directly influence the types of stories we tell. Perhaps one day another generation of LSUS leadership will look back at this time and find lessons in what we are doing now. I wish them well. DR. LARRY CLARK | CHANCELLOR LOUISIANA STATE UNIVERSITY SHREVEPORT
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OCT 2020
HIGHER EDUCATION BOSSIER PARISH COMMUNITY COLLEGE
Hindsight 2020: We have learned so much during the past year As we enter the final quarter of 2020, it is important to take time to look back over not just the challenges faced this year, but also the accomplishments of 2020 and thank those BATEMAN who helped make those accomplishments possible. Like everyone else, at Bossier Parish Community College, our vision for 2020 took a sharp turn in March and now in hindsight it is important to evaluate what went right this year and embrace the ways that facing the pandemic head-on has made our College stronger. As I have said before, at BPCC, we take seriously the word “community” in our name. It is important for our community to know how much you are appreciated and to know all the things we are doing at BPCC to help our community be a great place to live, work, and play.
In looking over the past year, BPCC experienced significant change and growth into new frontiers that will forever shape and impact the northwest Louisiana community. Through the adversity of the COVID-19 pandemic, our faculty rose to the challenge of growing our online programming this spring. Due to their efforts, we are now able to offer 13 Associate Degree programs and 16 Certificate programs 100% online for students. This will allow students from all over Louisiana and beyond to take advantage of a College education. These offerings will be a permanent and welcomed change that will help our College grow and embrace the next generation of online learners. The COVID-19 pandemic has hit our College community hard including our students. We are grateful that BPCC had the foresight last year to envision and plan the creation of the Cavalier Care Center. This Center delivers a host of nonacademic services to students in need who
MASK NOW so we can
might others drop out of college. We are BPCC Proud that our Center was able to serve hundreds of students during this difficult time providing food from our USDA-approved food pantry and Chromebooks to our students who did not have the technology to continue with remote learning after the pandemic hit. Food insecurity is a problem in Colleges across the country and we are making great strides in addressing that concern for students. Our Center also organized mental health services for student struggling with the unknown surrounding the pandemic. We are looking forward to cutting the ribbon on the Cavalier Care Center soon, but I am proud of our people who lead that initiative for meeting the needs of students in advance of the official opening. Before the pandemic hit, BPCC was honored in early 2020 to receive two prestigious business awards – Bossier Chamber of Commerce’s Business of the Year and the NLEP Top of Mind Award. Both awards
acknowledge BPCC’s leadership in our community working for the benefit of students and our industry partners in northwest Louisiana. In looking back over this unique year, it is important to remember the challenges faced and the victories experienced that will help the College continue to lead our community into 2021 and beyond. As we close the book on 2020 and look ahead to 2021, BPCC will launch new initiatives to help reboot our regional economy, grow enrollment, increase retention, and improve graduation rates. Our commitment to the northwest Louisiana community is strong and we look forward to continuing our vital role in the community as an economic driver and as a leading education and training provider. DR. RICK BATMAN | CHANCELLOR, BOSSIER PARISH COMMUNITY COLLEGE
In Louisiana, we love our football games and tailgate parties. Let’s work together so we all can get back to enjoying the traditions that make us special. Wear a mask or face covering now to protect yourself, your neighbors and the way of life we love in Louisiana. Learn more about ways to protect yourself at bcbsla.com/covid19
01MK7374 R08/20
later!
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HIGHER EDUCATION NORTHWEST LOUISIANA TECHNICAL COMMUNITY COLLEGE q
Unprecedented year brings unprecedented changes to education
Wow! What a year this has been. To borrow a great but over used quote - “It has been the best of times and the worst of times.” Over the last 6 months, the team MEADOR and students of Northwest Louisiana Technical Community College have been tested to their limits in so many ways. The Covid-19 pandemic has impacted every student, every faculty member, every staff member and the families of all of these groups. In March of 2020 we were all sent home to quarantine from the pandemic. Looking back we all hoped in a few days this would pass like a hurricane, snow or freeze. Months later we are still learning to live with the changes. In August of this year, SmartAssest.com listed our college #6 nationally. To be ranked
#6 of 837 colleges is a huge honor. This ranking is based upon completion rates and costs of attendance. NLTCC boasts the highest completion rate of any college in Louisiana. NLTCC takes great pride in our motto: Inspired, Equipped, and Ready to Work. It’s our culture, our way of life. Because we take “Ready to Work” very seriously, we believe Ready to Work must include handson training, skill practice, and assessment. It is very hard to practice Welding, Nursing Skills, or Instrumentation through a computer. In the weeks leading up to the campus facility shut down, planning was underway to enhance the online portion of our training. When the order to stay home came, we were ready to transform in-person/handson training programs to something very different. An extensive training program was implemented to train every instructor how to teach online and to seek out those topics in every course that could be provided on-
line. We began immediately working to keep every student engaged and learning from home. In May under the Phase II Guidelines we began a slow, very closely regulated return to campus for only those students that needed lab time to complete their studies. The needed supplies were obtained, staff were trained in the protocols, then every person entering a campus building was screened under the guidelines. Each person was required to wear a mask at all times. Through the months of May and June, across the college we completed almost every course that was started in the spring term. Drivethrough graduations for these students were held at each of our three campuses to allow graduates to celebrate safely with their families. These students were “Inspired” now fully “Equipped” and “Ready to Work”. The vast majority of these graduates went to work immediately. Moving forward with continued
Phase II protocols we ran a summer term and began our first eight-week fall term. Each program at the college is offered in a Hybrid format with portions on line and portions on campus. This format allows NLTCC to serve more students under the guidelines. As we move forward in our state with Phase III, Northwest Louisiana Technical Community College is ready to continue training students for their future. We will continue to utilize the protocols and procedures that have been honed and fine tuned over the summer months to provide the best and safest education possible for our students. Always remembering our to goal is to be sure our students are “Inspired, Equipped, and Ready to Work”. DR. EARL MEADOR | CHANCELLOR, NORTHWEST LOUISIANA TECHNICAL COMMUNITY COLLEGE.
CARTER CREDIT UNION . . .WE DO EVERYTHING YOUR BANK DOES . . .WE JUST DO IT BETTER AND WE OFFER MORE. Progress is something Carter Credit Union not only understands, we live it every day. We want everyone to know that Carter Credit Union can provide every service their bank offers, and we can do it with far more value than most are accustomed to receiving. There is a lot of growth that has come to this area, and we are excited to be a part of that growth. We know we have a lot to offer to both the residents and businesses in this market. We currently serve customers from coast to coast. Anyone can bank at Carter Credit Union. Carter Credit Union takes great pride in our people, products and our technology. We feel we do a great job at providing services to our customers when, where and how they prefer. From our wide selection of electronic services to our newest addition of video lending, our staff can assist you from anywhere. Want to apply or talk to someone about a loan? We’ve made it convenient for you. It’s as easy as a
simple click on your laptop or mobile phone and our live video agents are there to assist you. Carter also prides itself in the level of lending services we provide to our customers. Carter, like most banks, provides customers the option of applying for a loan online. What makes us different is that we truly understand that there are many applicants with less than perfect credit that need and deserve an extra look. Our product line and services include everything a customer or business would need from free checking, a large suite of electronic services, free auto buying consultant service and business products and services for both small and large businesses. We are excited to serve you and look forward to seeing you soon!
318-746-6447 CarterCU.org
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When you were younger, what dreams did your future hold?
YOU BELONG OCT 2020
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LOUISIANA TECH UNIVERSITY latech.edu
ECONOMIC DEVELOPMENT NORTH LOUISIANA ECONOMIC PARTNERSHIP q
For the economy to progress, north Louisiana needs workers
To stimulate economic development in Northwest Louisiana, we need more residents with documentable workforce skills. That WHITE means a lot more people with education and training beyond a high school diploma. According to the Board of Regents Louisiana Prospers Master Plan, only 44.2% of Louisiana’s working age population has a degree or certificate beyond high school, below the national average of 47.6%. This matters because according to projections by the Georgetown Center on Education and the Workforce, 65% of jobs nationally and 56% of jobs in Louisiana require education beyond a high school diploma. Until the last five to seven years, there was not a lot of emphasis in Louisiana placed on educating residents about training options after high school beyond a bachelor’s degree. But times have changed in that regard due to several trends, some specific to Louisiana and some national. One influencing factor was a significant number of large industrial projects announced throughout the state around 2010-2014, projects that require large numbers of workers with a variety of industrial skills and Louisiana simply did not have the supply of skilled workers to meet the projected demand. To add to this trend, jobs in industrial settings (e.g. manufacturing, energy) require more technical skill than in the past as automation replaces repetitive and lower skilled job functions. Industrial jobs today frequently require an understanding of how to program, operate and maintain the machines doing what was historically the manual labor. These jobs may
not all require bachelor’s degrees how to use, deploy and maintain to demonstrate a candidate has the these tools and processes that evolve needed skills, often they can be filled at a rapid pace and require life long by workers earning associate’s delearning for IT professionals. Technigree or technical certificates. cal certificates to demonstrate proAnother influencing factor is the ficiency are required for IT jobs and increase in demand for healthcare provide a way to move up the career workers, both in total number and in ladder in the field. But there is good news. Because technical specialization. This is due of increased emphasis on technical to advances in healthcare resulting education beyond high school the in longer life expectancy as well as last several years, there has been more specialized methods of proan uptick in completions at Northviding care, and a very large baby west Louisiana technical colleges, boomer generation hitting the stage community colleges and universiof life where healthcare needs are ties after increasmany years ing. Within Though we are making of mostly healthcare progress, we have too flat results training, many members of our (see chart there is a community who are not below). wide variety actively participating in And there of pathways our economy or not at are new a job seeker their full potential, and programs can follow that hurts all of us and to start a denies us achieving our recently launched by career in economic development the Louisihealthpotential. ana college care, some systems to requiring short turnaround time to make it easier than ever for Louisistart working, and most allow for ana residents to improve their educareer progression with experience cation and skill attainment. and follow-on training. Compete LA is an initiative of the And yet another trend has been University of Louisiana System to enthe rapid evolution of information courage adults who didn't complete technology tools and the resulting their degree to return to school at a impact on the new skills required flat-rate price of $275 a credit hour by workers in all industries to know
“
for returning adults, which is almost a 45% decrease in the price of tuition at UL institutions. The goal is to boost the percentage of Louisianans with a college degree to 60% by 2030. Reboot Your Career is a program announced recently by the Louisiana Community and Technical System to support workers who may be unemployed due to COVID-19 and retrain them for available jobs on high-wage career pathways at reduced tuition, no application fees and in short-term training. LCTCS proposes to train no less than 5,000 individuals in the 2021 fiscal year in short-term, high demand programs. Training programs will largely be less then 12 weeks in length and for each region of the state eligible programs will focus on those skill sets most in demand in their respective regions, such as industrial technology, healthcare, transportation and logistics, manufacturing and information technology. All of us in this community need to share this message with those in our circles that need to hear it. Though we are making progress, we have too many members of our community who are not actively participating in our economy or not at their full potential, and that hurts all of us and denies us achieving our economic development potential. Changing a career is scary but learning a new skill can be fun. Lifelong learning of new skills is how to make yourself more resilient to the changes and challenges of the future. For more information on programs noted above: www.CompeteLA.org www.lctcs.edu/reboot ANGIE WHITE IS A CERTIFIED ECONOMIC DEVELOPER AND INTERIM PRESIDENT OF THE NORTH LOUISIANA ECONOMIC PARTNERSHIP, WWW.NLEP.ORG.
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ECONOMIC DEVELOPMENT GRAPHICALLY SPEAKING q
North Louisiana State of the Economy Unemployment Rates
9.4
(January to July 2020)
15%
%
July
Unemployment Rate (not seasonally adjusted) Shreveport Bossier MSA
12% 9%
DOWN
30
6%
Sept 12
3% 0
%
Jan.
Feb.
U.S.
LA
March
April
Shreveport-Bossier MSA
NORTH LOUISIANA REPORT CARD ONLY
50%
Gross Regional Product (GRP) also called “regional GDP” is a good indicator of the size, income, and productivity of a regional economy. It measures the market value of all goods and services produced within a given area over a specific period of time. Over the last five years, the North Louisiana GRP has grown 9%. The Shreveport-Bossier GRP rebounded and grew over the last five years. The Monroe MSA saw slow, steady growth of its GRP over the last five years. (Source: Emsi)
13,737
Gross Regional Product
$40 $35 $30
Billions
SPRING 2020 ENROLLMENT AT 12 HIGHER ED SCHOOLS
July
Monroe-West Monroe MSA
HOLD CREDENTIALS BEYOND HIGH SCHOOL
57,053
June
May
continued unemployment claims down from its high point on May 16
$25
$33.1B
$19.5 B
$32.5 B
$33.9 B
$18.6 B
$19.7 B
$7.5 B
$7.8 B
$7.9 B
2015
2016
2017
$20
$35.4 B
$36.1 B
$20.8 B
$21.4 B
$8.0 B
$8.0 B
2018
2019
$15 $10 $5
DEGREES & CERTIFICATES CONFERRED IN 2019-2020 OCT 2020
10
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0
NLEP Region
Shreveport-Bossier MSA
Monroe-West Monroe MSA
ESSENTIAL AND DEDICATED TO THE PROGRESS AND FUTURE OF NORTHWEST LOUISIANA
PortCB.com
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ECONOMIC DEVELOPMENT GREATER BOSSIER ECONOMIC DEVELOPMENT FOUNDATION q
Consumer spending habits evolving due to pandemic
Watching, waiting, and even wincing at what could come next have been the common reactions over the last six months as the novel coronavirus swept the world and our nation by ROCKETT storm. As shutdowns, regulations and mandates were imposed in the name of public safety many, within our business community were left scratching their heads and trying to map what is to come. The first two quarters of 2020 show that one thing is for certain - the coronavirus has impacted the way consumers are spending and planning for the future. We can see the changes based on discretionary spending behavior which provides insight into the level of consumer confidence. Examples of discretionary purchases are apparel, entertainment, leisure, and
OCT 2020
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automobiles. During the onset of the coronavirus pandemic, retail spending in Bossier Parish dipped by 14 percent from the first quarter to the second quarter of the year. While some of the decline in sales volume can be attributed to the business regulations in place, the spending decline was also accompanied by a rise in unemployment which surged over 13 percent for the ShreveportBossier MSA at its highest in April 2020. Consumer intent of essential purchases are staying strong but do show fluctuations based on the number of cases reported. According to a consumer sentiment survey conducted by McKinsey and Company, 68 percent of Americans are not engaging in out of home activity and are waiting to see what is in store for public safety as restrictions are lifted. This sentiment could last more than six months as more Americans are getting comfortable with what some experts are calling “homebody economics�. This is leading to more home-based purchases such as home office furniture and
home exercise equipment. Changes in how goods and services are purchased are also shifting. Consumers are showing a preference for online shopping while e-commerce sites fight for sales during the digital decision-making process. These factors are changing brand loyalty and even store loyalty. Locally, many brick and mortar stores have adjusted to offer curbside service and online ordering in lieu of in person interactions. This is also an important part of pivoting to meet the needs of customers as they want to feel safe while shopping and participating in the economy. As restrictions ease and we settle into Phase III, we can expect to see a rebound in some areas important to or regional economy. Tourism and travel for example were negatively impacted by the pandemic. Looking at the local casino numbers alone, you can see revenue increased in the region at all gaming properties, and some are up in admissions over one hundred percent since regulations have eased. Hotel/ motel revenue in
Bossier was up 17 percent from June to July 2020. Our market will likely sustain an uptick in hotel/ motel sales due to the extended summer many experienced with a delayed start to the school year as well as the recent natural disaster experienced in the southern part of the state brought on by Hurricane Laura. Looking ahead, it is hard to predict what is in store for local and national economic stability. The few numbers we have for comparison from quarter 1 to quarter 2 of this year do point to a negative fluctuation in consumer confidence as it relates to the number of coronavirus case counts. As we settle into Phase 3, it will likely bring about continued increases in sales volume and economic activity, along with a decrease in unemployment which is a boost as we move into the holiday shopping season. DAVID "ROCKY" ROCKETT | EXECUTIVE DIRECTOR, GREATER BOSSIER ECONOMIC DEVELOPMENT FOUNDATION.
INDUSTRY PORT OF CADDO-BOSSIERq
Despite COVID-19 capital improvements coming to port
SPECIAL TO BIZ. MAGAZINE
2020 has been a year full of surprises. A pandemic essentially shut down the economy. Then, a hurricane named Laura made her presence known in Northwest Louisiana. Despite these obstacles, one constant was The Port of Caddo-Bossier. Currently, The Port and its tenants have created about 1,850 jobs. Noted economist Dr. Loren Scott said the area has seen “really good” growth from The Port and that it was a helpful source of stability for the area during the pandemic. According to Dr. Scott’s recent Louisiana Economic Outlook report, some Port tenants have felt the impact of COVID-19. Due to a drop in oil and gas production, Benteler Steel temporarily laid off part of its workforce. Despite the slowdown,
THE
T
OP OF
Benteler Steel will make $1 million in upgrades to its plant. Other Port tenants, including Omni Specialty Packaging, Ronpak, Pratt Industries and Calumet Packaging, are still planning on $35 million in capital improvement projects at their facilities and possibly the creation of new jobs. The Port of CaddoBossier has come a ENGLAND long way since 1993, when Caddo and Bossier voters approved a special property tax to allow The Port to purchase land and to build docks and other infrastructure needed to get started. Since then, The Port of CaddoBossier continues to grow. It currently sits on 3,200 acres in Caddo and Bossier parishes. As part of a
Regional Commerce Center at the Port of Caddo-Bossier
five-year master plan, The Port has identified sites to help expand its footprint in Northwest Louisiana.
Long-term goals are to acquire 3,000 acres to develop two mega-sites (each occupying 500 acres) and several small developments up to 100 acres. “The Port of Caddo-Bossier has a mission to enhance commerce, attract investment and create jobs,” said Executive Port Director Eric England. “We are a multifaceted economic engine, serving our current tenants’ needs while trying to bring new industry to The Port.” To attract new business, The Port is currently building a $14 million 100,000-square-foot multimodal warehouse. “2020 has been a unique year, but we continue to press ahead,” said England. “We don’t know what 2021 will bring, but we know our team can handle any situation and do it safely.”
L
OUISIANA
is resilent and resourceful. When faced with challenges, we persevere and overcome. North Louisiana Economic Partnership (NLEP) has demonstrated leadership through new initiatives that focus on helping our businesses recover and our people prosper. As we reclaim the progress we’ve made over the last several years, we look toward new opportunities as the global economy begins to recover. Together, North Louisiana can realize its full potential.
nlep.org 318.677.2554
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BUSINESS AGENCIES GREATER SHREVEPORT CHAMBER OF COMMERCE q
'A season of improvising' describes Chamber's year
JEANSONNE
“Improvise, Adapt, Overcome” is an unofficial slogan of the United States Marine Corps. This line was made popular in the 1986 film Heartbreak Ridge starring Clint Eastwood as Gunnery Sergeant Thomas
Highway. While this film is now over thirty years old, Gunny Highway’s words, even today, accurately describe how the Greater Shreveport Chamber of Commerce and the entire Northwest Louisiana business community are dealing with the challenges presented by this pandemic. The effect of the pandemic has been far reaching and has brought on programs, actions and terms new
to us all. “Social distancing,” drive through medical testing, the SBA Paycheck Protection Program and phrases such as: “my mask protects you, yours protects me” are among the many new terms and activities that we all learned in 2020. Change, innovation, and adaptation have been the standard for the Greater Shreveport Chamber of Commerce this year. The Chamber has partnered with many local, regional and state organizations to disseminate timely information on the many resources which have been made available. Since March of 2020, your chamber has participated in and sponsored the follow activities and outreach programs: ■ Creating the Flatten the Curve SBC website to disseminate COVID-19 related information (CDC, etc.) and business disaster (PPP,
EIDL, etc.) information; partnering with the Bossier (BCC) and Shreveport-Bossier African American Chambers of Commerce (SBAACC). ■ Creating a local restaurant guide that listed all restaurants that were open and providing curbside/ drive thru. This was open to all restaurants, not just Chamber members; partnering with he BCC and SBAACC. ■ Creating the Cardshop318. com (http://www.cardshop318. com) website, a white label gift card website which provided local businesses access to a gift card purchases for their products and services. This was open to any business, not just Chamber members; partnering with the City of Shreveport. ■ Helped create Shreve.Biz (http://www.shreve.biz), a free one stop business hotline where businesses could get advice and counsel-
ing support as they tried to figure out their access to government support, partnering with the City of Shreveport, SBAACC, CoHab and Southern University. ■ Created OpenSafeSBC (http:// opensafesbc.com) awareness campaign and website to encourage safe reopening of the economy, partnering with City of Shreveport, Caddo Parish, Bossier Parish, Bossier City, Caddo Sheriff, Bossier Sheriff, Caddo Schools, Bossier Schools, C100, NLEP, DDA, NLCOG, PORT, BRF, Convention and Tourism, GBDEF, RRVA, Willis Knighton, Christus, Oschner/LSU, VA, Community Foundation, Romph & Pou. ■ Worked with Wills Knighton Health System to produce a Guide for Safe Business Re-Opening, partnering with BCC and SBAACC. See, CHAMBER, Page 33
! y a Pl press
LA , r ie s os B tor ep ev r h S in
Gators and Friends Adventure Park
#PRESSPLAYSB
Shreveport-Bossier offers a variety of outdoor
experiences, dining options, gaming, and fun things to do. Have fun and press play on a new day. To get a complete list of things to do, visit www.Shreveport-Bossier.org.
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www.Shreveport-Bossier.org
ECONOMIC DEVELOPMENT PORT OF CADDO-BOSSIER q
Ronpak Inc. found a successful home in Shreveport-Bossier
CHRISTINE RAMBO NLEP
As a leading manufacturer of custom-printed paper bags and food wraps, Ronpak Inc. faced an enviable problem in 2010: demand for its food-grade bags from fast food customers outstripped its capacity. With facilities in New Jersey and California, Ronpak experienced difficulties serving its customers in the central and southern regions of the country, especially as its market share grew in those areas. For logistical purposes, company executives wanted to build a manufacturing facility in the South, with sufficient access to infrastructure to reach its growing customer base. The company wanted to locate its new 155,000 square-foot manufacturing plant in an area with a deep pool of talent and available training resources to quickly recruit and train new employees. In July 2011, Ronpak officials announced their
selection of Shreveport over Dallas, followed soon afterwards with the announcement of the company’s headquarters relocation from South Plainfield, New Jersey to Shreveport. In December 2012, the company opened its $16.8 million state-ofthe-art bag mill at the Port of Caddo Bossier. Nearly a decade later that decision proved to be the right move for the company. “North Louisiana has been at the forefront of our corporate business growth,” said Kevin Wascom, Ronpak President. “We’ve seen tremendous growth at our Shreveport plant year after year — even during the pandemic.” Initially, Ronpak served one main customer, McDonald’s, from its Shreveport plant. Today the facility has not only doubled its position with McDonald’s, it also manufactures bags for Wendy’s, Popeyes, Taco Bell, Chick-fil-A, Church’s Chicken, Wingstop and others. The growth has necessitated new invest-
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North Louisiana has been at the forefront of our corporate business growth."
KEVIN WASCOM, RONPAK PRESIDENT
ment in equipment and people. To keep up with growing demand, Ronpak plans a $10 million capital investment in new equipment. The expansion will create another 30 new jobs to its existing 150-person labor force in Shreveport—90% of which is drawn from the local workforce. “I attribute much of our success to the people at this facility,” said Wascom. “We have a great corporate culture here. We put people first, investing in training and rewarding workers who improve their skill sets. Through our Ronpak University, a training program that creates a career ladder for employees, our workers can gain new certifications
and skills that result in higher pay.” Wascom, a Louisiana native, says the company promotes from within. He is especially proud of his diverse leadership team, many of whom come from North Louisiana. Because of the company’s commitment to continuous training and innovation, Ronpak has won numerous accolades from clients, including “Supplier of the Year” from Taco Bell, Burger King, and Del Taco and “Quality Supplier of the Year” from McDonald’s. “We couldn’t have done this alone,” said Wascom. “Our state, regional and local partners have helped us to succeed. The Port of Caddo-Bossier offered a temporary manufacturing space in the beginning to help us meet our production deadlines; North Louisiana Economic Partnership connected us to state and local resources; and the State of Louisiana and Louisiana Economic Development provided workforce inSee, RONPACK, Page 33
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TOURISM SHREVEPORT-BOSSIER CONVENTION AND TOURIST BUREAU q
Local tourism industry perseveres in pandemic This year has been a roller coaster for Shreveport-Bossier’s tourism industry. It started on a high with Mardi Gras, and by mid-March tourism ground to a near halt. Hotels, restaurants, atEVANS tractions, meeting venues, and retailers had to close their doors to comply with the stay-at-home mandate to flatten the curve of COVID-19. Those efforts helped and by early June, the Shreveport-Bossier community was able to open its doors and welcome visitors back. To date, Shreveport-Bossier’s tourism industry has recorded lost business of 121 meetings, events, and sporting competitions. That represents $27.6 million in direct economic impact to the community that has hurt people’s livelihoods. Locally, in April the leisure and
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hospitality workforce saw a loss of 5,808 jobs or 44.5% of the industry’s hardworking people. As things pick up fortunately people are getting back to work, which will help usher in a stronger recovery of Shreveport-Bossier’s overall economy. Hotel occupancy is a key performance metric that the ShreveportBossier Convention and Tourist Bureau monitors to gage the economic impact of tourism. It is slowly rebounding because of a pent up demand for travel, particularly in regional drive markets. One of Shreveport-Bossier’s strengths is its proximity to 33 million people in a 300-mile radius. The most populous area is Dallas, which is the number one feeder market. These markets are responding well to the Tourist Bureau’s “Press Play in Shreveport-Bossier” marketing campaign designed to combat COVID-19’s adverse effect on the local tourism industry. The marketing campaign utilizes a mix of social
media, search engine marketing, digital advertising, targeted e-mail marketing campaigns, television, public relations, and a strong partnership with Expedia to generate hotel bookings. The promotion focuses on all the things that adults and families with children can do to play – gaming at casinos, fun at local attractions, outdoor experiences on the Boom or Bust Byway and area lakes, and the diverse culinary scene. The conventions and sports markets have been more challenged. Phase 3 will allow for larger indoor gatherings, so aggressive efforts to rebook groups are underway. On the sports side, the Tourist Bureau is focused on hosting more outdoor events where there is the potential for greater social distancing and safety precautions. 2021 is shaping up to be a huge year for the local sports market, perhaps one of the best ones in the ShreveportBossier Sports Commission’s 9-year history.
It’s a long road ahead to complete recovery. However, the perseverance that tourism industry partners have shown and their grit and determination to keep the industry alive has energized the team at the Tourist Bureau. To further support partners, the Tourist Bureau offers many resources such as marketing grants, free listings on the tourism website at www. Shreveport-Bossier.org, free event listings and promotion on www. SBFunGuide.com, news release distribution, brochure distribution, plus many more services. To learn more about all there is to see and do and to “Press Play” on a new day, visit www.ShreveportBossier.org. BRANDY EVANS | VICE PRESIDENT OF COMMUNICATIONS, SHREVEPORT-BOSSIER CONVENTION & TOURIST BUREAU
LOCAL ECONOMY DOWNTOWN DEVELOPMENT AUTHORITY q
Work of DDA essential, even during COVID-19 2020 has been a dumpster fire, a ‘zero’ on a scale of one-to-ten, the worst blind date ever. During the early days of COVID as Governor Edwards SWAINE told folks to stay at home, I continued to come to the office at the Downtown Development Authority, not to flout any rules, but because I felt like our work was essential. I knew that our downtown stakeholders--- small businesses and property owners; people whose livelihoods depended on continuing to operate--- felt alone and needed someone to share the latest rules, regulations, and rumors as we all adjusted to the hated ‘new normal.’
No one was quite sure of what to do or how to do it, and everyone struggled to make the much mentioned ‘pivot’ from one type of business (one that was not making money) to another (one that was). During this period of maximum stress, my office staff of one and I scoured the Internet looking for COVID best business practices, held conference calls and Zoom-type meetings to talk about federal and state business grants, kept up with and shared information on unemployment changes and searched for banks willing to help non customers with federal CARES Act loans. We printed decals on how to wash hands and where to stand and secured and handed out hard-to-get sanitizers, bleach, and quick read-thermometers. We texted, called, and dropped in on downtown business friends
who, like us, were having a hard time keeping up with what day it was. Foot traffic downtown plummeted, street traffic evaporated, office buildings were empty. It was just a matter of getting over the rough spot--- or so we thought--- but articles started to appear predicting the ‘end’ to downtowns as we know them. Office occupancy in Manhattan dropped to a remarkable 5%, prognosticators predicted crowded downtown Chicago residents would begin to move en masse. Downtown revitalization happening across the country seemed on the verge of a reversal as people began touting the efficiency of working from home and need for ample social distancing away from office buildings and elevators. There are certain things that may make a rebound tougher in a place
like New York; things like long commute times and much more crowded conditions, that should not affect cities like Shreveport. Governing Magazine recently reiterated that the many reasons people love downtowns will be the same after COVID as before. One was the need for entertainment. COVID has changed a lot of things but none more than the way we spend our free time. Robinson Film Center, Sci-Port Discovery Center, the Shreveport Aquariums, our casinos and restaurants, art galleries and events are all making tentative come backs. Are they selfsustaining in our current ‘normal’? Not really. They, like other businesses, are blowing through lines of credit and cash reserves but they are seeing gradual improvement, increasing numbers and interest. See, DOWNTOWN, Page 34
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The Report COVID-19 AND THE ECONOMY q
Economic downtown led by services sector
A
n economist says the state, let alone Shreveport-Bossier, will not recover this year from the massive economic downturn caused by the COVID-19 epidemic. The hard numbers were laid out during the 39th Annual Louisiana Economic Outlook presented by Dr. Loren Scott, professor emeritus of economics at LSU, on Sept. 16, 2020. He noted the Bureau of Economic Analysis has been tracking Real Gross Domestic Product (RGDP) for the past 73 years and the previous worst quarter was a drop of 10% in 1958. In the second quarter of 2020, RGDP fell a staggering 31.7%. Statewide, April employment data showed a decrease of 271,900, which is -14% overall. The Leisure and Hospitality sector saw employment SCOTT decrease by -46%, a total of -106,500 employees lost, with the construction sector a distant second at -17%. “The Leisure and Hospitality sector is where your casinos are. There were 16,000 people employed in those across the state and those casinos were totally closed down (for months),” said Dr. Scott. He added, “This is the first time in history of the United States that a downturn was led by a services sector. Typically, the services sector is kind of an anchor.” Dr. Scott went on to note that Louisiana is No. 2 in the nation for refining capacity. He pointed out that gasoline consumption dropped -42% in roughly three weeks. “That really hammered the refinery industry and the first thing they did was start laying off contract workers,” he explained. His report went on to note the -15% em-
ployment in the mining sector, which contains the important oil and gas industry. Oil prices were at $60 in early 2020 and then hit a historic low of $-38 for one day this spring. The good news is that the price of oil had rebounded to $40 per barrel by the end of June. Oil prices are difficult to forecast, partly due to many oil fields across the globe being in the hands of governments, but Dr. Scott said he sees the price of oil being $45 next year and $49 in 2022. “This is not a good forecast for Louisiana. Louisiana needs oil prices in the $55 range,” he noted. On the flip side, he sees the price of natural gas almost doubling between now and 2022. This is because the rig count dropped from more than 1,000 to 250 currently. “In the shale basin, a lot of associated natural gas is un-produced, so the price will go from $1.60 to $3.10. That’s good news for you all because of the Haynesville Shale. I think there’s some good things about to happen there for you folks,” Dr. Scott exclaimed. April employment data for Metropolitan Statistical Area (MSA) showed the Shreveport-Bossier MSA had a decrease of -13%, a loss of -23,100 jobs. “Shreveport-Bossier got hit about as hard as anybody did. One of the reasons for this is because you have the second largest casino market in the state. About 4,800 people were employed in the casinos and these were closed in mid-March and not reopened until mid-June,” said Dr. Scott. Looking at the economy’s recovery since this spring, the Shreveport-Bossier MSA’s economy kept up with state trends — jobs increased by 49%
for an overall job loss of -11,900. In July, state employment in July rose to -138,200, which is an increase of 49% over the dire April numbers. The biggest sector increase was in the State Government sector, which grew by 193%. Leisure and hospitality rose to -16,900, an increase of more than 50%, while the Construction sector grew by 41%. One of only two negative sectors was the Mining sector, which fell another -12% to reach -6,400 jobs. - BIZ. MAGAZINE
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The Report CURRENT REALITY q
Scott: Not all economic challenges are COVID-related
C
OVID-19 was not kind to ShreveportBossier’s economy, but the pandemic's effects were magnified by several key losses, says a state economist. Dr. Loren Scott, professor emeritus of economics at LSU, recapped the economic numbers of 2020 during the 39th Annual Louisiana Economic Outlook hosted by the Port of Caddo-Bossier in mid-September. The event was sponsored by the Committee of 100. “Your community took a hit from not only COVID, but some things that are not COVID-related,” said Dr. Scott. He noted the Shreveport-Bossier Metropolitan Statistical Area (MSA) took some permanent hits in 2020. Specifically, Libbey Glass is shutting down by the end of the year, taking 450 jobs with it. Another hit was that the DiamondJacks Resort and Casino closed during the COVID-19 outbreak and did not reopen, equating to a loss of 349 jobs. “That Libbey Glass loss is a big number for any MSA, but especially for one of your size,” Dr. Scott explained. “The Casino sector has been in a decline since 2014 because of competition from Indian casinos in Oklahoma.” He then warned, “It will be very interesting to see where that (DiamondJacks) license goes. I doubt it stays in your area, I don’t know where it will go, but I doubt it stays in an area which has been declining for some time.” Dr. Scott also noted the closure of the Dolet Hills Mine and Power Plant in Mansfield, which will result in a loss of 243 jobs. He went on to highlight some “temporary” knocks to the Shreveport-Bossier MSA’s economy in 2020. Benteler Steel dropped from 530 employees to 158 due to lack of production for pipes used in oil and gas production. BJ Services, a fracturing firm in the oil and gas industry, announced in early August it
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“Notice that the 1980s downturn occurred over four years, this downturn was over four months,” said Dr. Scott. “Your community is the third hardest hit in Louisiana by percentage, primarily because of the permanent losses you suffered from Libbey Glass, DiamondJacks Casinos and Dolet Hills.” However, when looking ahead to how things could turn around for the Shreveport-Bossier MSA, Dr. Scott gave the caveat that forecasting the rest of 2020 and 2021-22 is difficult. This, he said, is due to uncertainties over a vaccine for COVID-19 and the 2020 presidential election. “Prospects are starting to look good that we have a vaccine by the end of this year or first of Libbey Glass in Shreveport. 2021, which is remarkably fast,” he said. “I feel this will be one of the most consequential presidential is laying off 273 people and filed for Chapter 11 elections in our history. We can really go in some bankruptcy. very different ways.” Cactus Wellhead, another oil and gas service He continued, “It’s important to us because industry, is laying off 42 people. candidate Joe Biden wants to ban new oil and These negative changes were knock on effects gas permitting on public lands and waters from oil prices falling from $60 in early 2020 to a and modify royalhistoric low of $-38 ties to account for this spring caused by Your community is climate change oil futures. The good the third hardest hit in costs. What that news is that the price means is that he Louisiana by percentage, of oil had rebounded might as well say primarily because of the to $40 per barrel by we’re not going the end of June. permanent losses you The reality of these suffered from Libbey Glass, to have any more lease losses adds up to a DiamondJacks Casinos and sales. If you historic downturn for Dolet Hills.” totally shut the area. that down, He explained that — Dr. Loren Scott you’re following the majority Economist going of estimates, the state to shut will get back 72% of down drilling in the Gulf of what was lost in the first half of the year. Mexico. That means you Applying that to the Shreveport-Bossier MSA, can shut up shop in the that is going from -23,100 jobs to -10,600 jobs, an Houma and Lafayette overall decline of -5.9%. area.” That would make this year's dip the worst - BIZ. MAGAZINE downturn since the oil crash in the 1980s.
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POWERING LOCAL BUSINESSES AFTER THE STORM Our commitment to keeping local businesses running requires us to get the power back on as safely and quickly as possible. That is why we worked tirelessly day and night for you following Hurricane Laura.
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The Report EMERGING FROM THE DIP q
Economist: Shreveport-Bossier economy may boom
A
state economist says ShreveportBossier is expected to emerge from the darkness caused by the COVID-19 pandemic, but not for several years. Dr. Loren Scott, professor emeritus of economics at LSU, looked ahead to 2021-22 during his 39th Annual Louisiana Economic Outlook hosted by the Port of Caddo-Bossier in mid-September. Dr. Scott gave the caveat of forecasting the rest of 2020 and 2021-22 due to uncertainties over a vaccine for COVID-19 and the 2020 presidential election. But, he called the state and local recovery a “Nike swoosh” pattern. Nationally, Gross Domestic Product is expected to grow 4% in 2021 and 2.1% in 2022. Across the state, Dr. Scott sees an increase of 3.9% for 72,600 jobs in 2021 and a modest 1.1% gain of 21,500 jobs in 2022. He says the state won’t recover its pre-COVID losses until 2023, mainly due to low oil prices. The Shreveport-Bossier Metropolitan Statistical Area (MSA) is expected to gain 6,400 jobs in 2021 and 1,000 jobs in 2022. “We expect you won’t recover all your jobs until 2023. If you get (potential) nice hits at the Port and the National Cyber Research Park, that could all change and make this much, much better,” said Dr. Scott. The primary reasons for this positive outlook is the recovery of COVID losses — restaurants, entertainment firms, etc. — and expected growth at the Port of Caddo-Bossier, National Cyber Research Park, and Ochsner Health System.
Port of Caddo-Bossier The Port and its entities are currently at 1,850 jobs. The Port itself is currently building a $14M, 100,000 sq. ft. warehouse for steel products. They also have a prospect for the 2021 timeframe that would see a firm use exist-
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Product is unloaded at the Port of Caddo-Bossier. (Courtesy of The Port of Caddo-Bossier)
ing infrastructure to build a $325M plant using a considerable amount of barges. “The Port is continuing to purchase additional acreage in the future I-69 corridor to expand the Port’s footprint. It is our plan to mirror the development and success, we have seen over the past 25 years, for generations to come,” said Eric England, Port of Caddo-Bossier director. ■ Benteler Steel temporarily laid off 375 of its 530-person workforce. However, they expect to grow from 158 to 280 by the fourth quarter of 2021 and are making a $1 million upgrade on a furnace floor. ■ OMNI is at 254 employees and expected to grow over the next two years. The company will be finishing a $2M blending process capital expenditure in October of 2020. ■ Ternium is at 165 employees and stable. A $2.3M capital expenditure for 2020-21 was deferred due to COVID. For 2020-21, $8.3M and $7.8M projects have been deferred. ■ Sports South is stable at 245, so is Morris
Dickson at 230. ■ Ronpak is adding machines through 2022 and expects growth. ■ Pratt will be stable and has a $13M capital project in progress, with a plan to spend $5M over the next two years. ■ Calumet Packaging has stable employment with potential for a $15M building addition. ■ Lastly, ADS hopes to add six to seven drivers to its business.
National Cyber Research Park The Bossier City-based park currently employs 1,200 people across four facilities — General See, OUTLOOK, Page 26
In six years, the Entrepreneurial Accelerator Program has vetted over 1,060 ideas and aided in funding 93 of them, helping to bring $103 million in new capital to the area. Viable companies benefit from EAP’s range of startup services, which include: Financial Modeling Mentoring & Coaching Funding Strategy Pitch Preparation Marketing Strategy Contact us today! 1-887-352-0157 info@eapla.com
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The Report EMERGING FROM THE DIP q
Outlook: Companies plan to add jobs, expand
Continued from Page 24
Dynamics Information Technology (GDIT), the Cyber Innovation Center (CIC), Louisiana Tech Academic Success Center, and a Benton-Road based call center. Construction is underway over the next 18 months on the $22M Louisiana Tech Research Institute building that will employ 400 people by 2022. This will house professors and staff working on classified cyber research. “That’s a nice little bump to offset the Libbey Glass loss,” Dr. Scott noted. GDIT is expected to add 100-200 new jobs over 2021-22. And, the CIC added 20 jobs in 2020 and is expected to add another 20 over 2021-22. “Those are not big numbers, but they're big payrolls and that’s important for this area,” said Dr. Scott. His report cited CIC CEO Craig Spohn saying he expects to announce a new 100 person firm on the campus. They are also working on a 600-1,000 person firm as result of Air Force Global Strike Command’s STRIKEWERX program. This program that engages innovators and entrepreneurs in aiding U.S. Air Force operations will require a new building on the National Cyber Research Park campus.
Other business gains ■ Ochsner Health System took over LSU Health System and reopened a closed CHRISTUS Schumpert hospital as St. Mary Medical Center, adding 133 jobs in the process. They forecast to spend $56M in projects on two hospitals and add 425 jobs over two years. ■ Barksdale reversed its recent downward trend of declining civilian and troop counts. It is up to almost 300 jobs. Base leadership also hopes to announce a $170-225M weapons storage facility.
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In the shale basin, a lot of associated natural gas is un-produced, so the price will go from $1.60 to $3.10. That’s good news for you all because of the Haynesville Shale. I think there’s some good things about to happen there for you folks,”
— Dr. Loren Scott Economist Construction is also underway on a new entrance off the I-20/I-220 exchange and a corresponding $46M gate. ■ Fibrebond worked with the Louisiana Department of Transportation and Development to upgrade 50 miles of highway to better transport its product. That resulted in the 752-person firm staying in the Minden area, a $2.5M capital expenditure comes online, and the decision to add 50-75 jobs. ■ BRF is looking stable to retain 600-plus jobs at its InterTech Park, BRF units, and EAP Program. ■ Tomakk Glass Partners is spending $1.9M on a new plant to make tempered glass, insulated windows and more, which will result in 50-plus jobs.
Natural gas Looking at the Haynesville Shale, Dr. Scott sees gains as the price of natural gas is expected to almost double between now and 2022. This is because of decreasing rig count and new Liquified Natural Gas (LNG) plants coming online in south Louisiana. “In the shale basin, a lot of associated natural
gas is un-produced, so the price will go from $1.60 to $3.10. That’s good news for you all because of the Haynesville Shale. I think there’s some good things about to happen there for you folks,” Dr. Scott exclaimed.
Gaming industry The local casino industry employed 4,820 persons pre-COVID, making it the second largest casino market in the state. However, it is losing its smallest casino in the DiamondJacks resort casino, a total of -393 jobs. However, Dr. Scott revealed that even under a 50% occupancy rule due to COVID, revenues recovered at 78% when compared to July 2019. “That’s a really unusual thing to happen there,” said Dr. Scott.
Shreveport Regional Airport Western Global Airlines was moving into the Express Jet facility with a maintenance facility but has dropped from 125 to 60 employees due to COVID. Advanced Aeros Services was due to start a MRO facility in Hanger 5 but is only at two employees and two contract workers. However, they plan to grow to 500 jobs by 2024. “What’s going on in the airline industry has really, really slowed them down,” said Dr. Scott. - BIZ. MAGAZINE
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The Report EMERGING FROM THE DIP q
A history of the Shreveport-Bossier economy *EDITED FROM A SUMMARY OF THE SHREVEPORT-BOSSIER MSA’S HISTORY AS PROVIDED FROM THE LOUISIANA ECONOMIC OUTLOOK PRODUCED BY DR. LOREN SCOTT
The Shreveport/Bossier area suffered through a prolonged, and deep, recessionary period from 1985-89. While this decline was partially a result of a badly declining exploration industry, that was not the main culprit. The AT&T effect: Both the depth and length of the recession was due to the downsizing of AT&T’s phone equipment manufacturing facility in Shreveport that employed 7,450 people to near 1,100. Casinos to the rescue: In 1994, ShreveportBossier’s employment began to rise by an average of 4,600 jobs a year due to riverboat casinos. Casinos added jobs to the region in the construction of large hotels. Durable goods dependence & national recessions: The years 2001-03 were particularly difficult ones for this MSA. The MSA lost 4,300 jobs over this three-year period. In both percentage terms and in length, it was the worst decline in the state. Several factors played a role in this rather poor record. First, there was the closure of some large manufacturing facilities in the area. Too, the state’s most successful casino market took a hit as business declined with the recession. Finally, a mixture of other firms, including Frymasters, Beaird, and Exide Technologies imposed significant layoffs in 2002. Beaird, in particular, went from a 700- to a 30-person workforce. GM, Beaird, and Frymaster stop the fall: The Shreveport/Bossier MSA turned the corner in 2004 and grew for five years in a row, expanding at a very healthy rate of almost 2% a year over 2004-08. Initially, General Motors was a key player in this
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recocery as its employment in the region jumped from about 2,400 to 3,600. After taking over Beaird Manufacturing, the Eakin Company initially put that firm back on an expansion path with 30 employees jumping to about 570. Frymaster came back at an all-time high employment level of over 600 employees. The new firm Steelscape (now Ternium) oopened at the Port of Caddo-Bossier, creating 240 new jobs in 2007. Haynesville & Barksdale mitigate the Great Recession: When the Great Recession hit, Shreveport-Bossier did not lose its first job until 10 months later. The U.S. economy lost 6.1 % of its jobs; this MSA lost only 2.3 % and it only lost jobs in one year—the only MSA in Louisiana to pull that off. Instead of ranking dead last in the state, Shreveport-Bossier ranked 2nd in least jobs lost during the Great Recession. There were two key factors behind this unusual performance. Haynesville Shale exploration over 2008-09 pumped in funds amounting to $3.5 billion in 2008 and $7 billion in 2009. Secondly, the awarding of the Global Strike Command to Barksdale Air Force Base also helped mitigate the impact of the Great Recession. By September 2009, 275 of the 900 jobs attached to the AFGSC had relocated to Barksdale. In addition, Barksdale gained part of 700 positions. These gains did not mean the region escaped the recession unscathed: Problems at General Motors dropped its workforce to about 800. Capital One Bank closed a 150-person call center and Verizon closed a 300-person call center. Beaird Industries closed at a cost of about 400 jobs. Recovering From the Great Recession: The Shreveport-Bossier MSA actually started enjoying
job gains in 2010. The increase was only 400 jobs or about 0.2%, but this was the only MSA in the state to grow that year. The region also had a good year in 2011, adding 2,100 jobs, a very respectable growth rate of 1.2%. That, however, was not the pattern that has continued. Except for slight growth in 2010-11, the Shreveport-Bossier MSA was in a decline from 2008 to 2017, losing 10,700 jobs (-5.7%). Several factors contributed to this poor performance. First, the GM plant closed in August 2012, costing the region 800 high-paying jobs. Activity in the Haynesville Shale dropped by 84%. A third factor holding back this region’s economy has been a reduction in forces at Barksdale AFB. The troop count which was 8,655 in 2012 dropped to 6,609. Finally, competition with Indian casinos in Oklahoma has significantly eaten into Shreveport-Bossier’s gaming sector over the past few years. This sector has shed 1,378 jobs between 2014-2019 according to the Louisiana Gaming Control Board. Gross revenues at the six Shreveport-Bossier casinos and its racetrack have fallen by $67.2 million between FY14 and FY19, a decline of 9.1%. Two key factors have helped mitigate the decline: The Cyber Research Park enjoyed a growth spurt with its tenants — the Cyber Innovation Center, General Dynamics IT Center, and the Louisiana Tech Academic Success Center — employing 1,100 people. An additional bump was provided by the arrival of Glovis America and 156 employees at the old GM plant.
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A LOOK BACK AT 2019-2020 Record number of graduates every semester... including the unprecedented Spring and Summer!
Record number of scholarships awarded and amount given with recipients retained at 100%!
Bossier Chamber Business of the Year
BPCC graduate, Tay Moore, Louisiana High School Student of the Year
NLEP Top of Mind Award The Louisiana Cyber Education Center and the training of 300+ BPCC employees in Cybersecurity Essentials Opening of the Cavalier Care Center Creation of new programs Practical Nursing • Fire Science Tremendous growth in the number of fully online programs Opening of the Prometric Testing Center Construction of the Baseball and Softball Locker Rooms
BPCC Named a Purple Heart Community College Drive-Thru Art Showcase Tour Food distribution events each month of the pandemic Designated a Military Friendly School for the 9th year in a row Hosting the 2019 Community College Cyber Summit Inaugural May-mester offered Hosted the Human Patient Simulation Network Regional SimDay
318.678.6000 • BPCC.edu Bossier Parish Community College is accredited by the Southern Association of Colleges and Schools Commission on Colleges to award associate degrees, diplomas, and certificates. Contact the Commission on Colleges at 1866 Southern Lane, Decatur, Georgia 30033-4097 or call 404-679-4500 for questions about the accreditation of Bossier Parish Community College. • Bossier Parish Community College does not discriminate on the basis of race, color, national origin, gender, age, religion, qualified disability, marital status, veteran’s status, or sexual orientation in admission to its programs, services, or activities, in access to them, in treatment of individuals, or in any aspect of its operations. Bossier Parish Community College does not discriminate in its hiring or employment practices. • Coordinator for Section 504 and ADA: Angie Cao, Student and Disability Services Specialist - Disability Services, 6220 East Texas Street, Bossier City, LA 71111 - (318) 678-6511 - acao@bpcc.edu - 8:00 a.m.–4:30 p.m. M-F, excluding holidays and weekends. • Equity/Compliance Coordinator: Teri Bashara, Director of Human Resources - Human Resources Office, 6220 East Texas Street, Bossier City, LA 71111 - (318) 678-6056 - 8:00 a.m.–4:30 p.m. M-F, excluding holidays and weekends.
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Making progress
where you need us.
At Ochsner LSU Health, we are committed to providing high-quality, accessible care where you need us, and this has remained a priority even through these unprecedented times. We have continued to invest in your health by adding additional ICU capacity, expanding our leading telemedicine options, bringing on new providers and services, and opening new locations across North Louisiana. Expanding and improving facilities
Advancing healthcare in our area
Women’s & Children’s inpatient services now at our St. Mary Medical Center Opened Imaging and Surgery Centers at our St. Mary Medical Center with state-of-the-art technology Invested millions in new biomedical equipment at our Academic Medical Center
Louisiana’s first Joint Commission certified Thrombectomy-Capable Stroke Center Louisiana’s first Louisiana Emergency Response Network-recognized Pediatric Trauma Program Level 1 Trauma Center
Health Centers at St. Vincent and Fern Avenue open, providing Primary Care services
Designated a Level 4 Epilepsy Center
Expanded ICU bed capacity
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Improved access to care New TeleStroke and TeleICU programs expanding access to critical care services across North Louisiana Expanded virtual visits programs and telemedicine options Our team consists of over 500 providers with expertise in over 70 specialties. Opening Louisiana Behavioral Health joint venture with Oceans Healthcare in early 2021
BIZ. News Chamber: Improvising leads to communication
Ronpak
■ Held weekly webinars for businesses focused on providing realtime information on healthcare, business and recovery information. Speakers included, Senator Bill Cassidy, Congressman Mike Johnson, LED Secretary Don Pierson, Mark Cooper, John Bel Edwards Chief of Staff, Jacques Lasseigne, Louisiana Workforce Commission, Chief Browning, Louisiana State Fire Marshall, Representative Thomas Pressly, Dr. Joseph Bocchini, LSU Infectious Disease Specialist, SBDC and SBA representatives, local bankers, CPAs and other subject matter experts; partnering with BCC and SBAACC. ■ Shifted the Shreveport Leadership Program online, by hosted a virtual Baton Rouge site visit for Shreveport Leadership including a capital visit hosted by Representative Pressly, discussions with Representatives Pressly, Horton, McCormick,
centives, such as LED FastStart™.” Interested in applying for the new positions at Ronpak? Click on the link: http://tinyurl.com/ y8e9g7je to apply on Louisiana Workforce Commission’s Hire site.
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Jenkins and Senator Peacock. The class also viewed and discussed committee hearings and floor debates broadcast online. Hosted topic specific days featuring presentations and virtual discussions with representatives of our healthcare and local governments. ■ Co-hosted a virtual Northern Exposure day with North Louisiana Chambers where we heard from Governor Edwards and members of his Cabinet ■ Hosted a press conference and webinar with Treasurer Schroder for the launch of the Main Street Recovery Program During the height of the pandemic we Increased our newsletter distribution to twice a week to accommodate all the new information coming out, in addition to our legislative newsletter which was published during the regular and special sessions. All of this was done in addition to providing ongoing support to our
area businesses as needed. Of note: the Chamber received no PPP funds and operated with a reduced staff during the pandemic. In time, history will fully record the terrible toll this pandemic has brought on us all. The loss of life and the loss of livelihoods has been tremendous. We also have all suffered a great loss of general wellbeing. But, history will also record the successes: the dedication of our health care works, the creativeness of our businesses, the generosity of our churches and charitable organizations and the courage of all of us to “mask up” and carry on. It is often said that “we are better together”! I am certain this is true. Improvise and adapt! I am certain that we have. Overcome! I am certain at we will. LYLE H. JEANSONNE | 2020 CHAIRMAN, GREATER SHREVEPORT CHAMBER OF COMMERCE
1-800-510-6568
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About Ronpak Ronpak Inc. is a leading manufacturer of custom-printed paper bags, packages and food wraps. Since Ronpak's founding in 1947, the company has constantly developed new products to meet customer demand, and often those efforts include working with Ronpak's paper mills to develop new papers that have new properties. In addition to Louisiana, the company's locations include manufacturing locations in New Jersey and California. For more information, visit www.ronpak.com.
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BIZ. NEWS LEADERBOARD q
CenturyLink transforms, rebrands as Lumen® CenturyLink has a new brand name and bold new purpose. As Lumen Technologies, or simply Lumen, the company will help lead enterprises through the challenges and opportunities of the 4th Industrial Revolution – a time when smart, connective devices are everywhere. Lumen® brings a new focus to how it views the marketplace and the world with the purpose to further human progress through technology. The 4th Industrial Revolution represents the latest technological shift to change how everyone lives, works and thrives. At its core, this new age requires companies to effectively acquire, analyze and act upon their data to stay ahead of the curve and to be competitive. Lumen’s combination of global technology infrastructure, powerful business solutions and industry-leading services creates the platform to help our customers excel in this new industrial age and produce amazing things. Lumen president and CEO Jeff Storey comments on new brand name, new purpose: “Our people are dedicated to furthering human progress through technology. Lumen is all about enabling the amazing potential of our customers, by utilizing our technology platform, our people, and our relationships with customers and partners.” —BIZ. MAGAZINE
BUSINESS INTERACTIONS q
Eating With People Again
Casual business dining isn’t the same as at home
Now, this is progress! Restaurants WHY: A messy table looks unsanitary. Pushing the may now seat patrons at up to 75% paper pieces back towards the boor’s space would be capacity. This means more business passive-aggressive behavior. Simply tuck the pieces lunches and dinners will occur. It is near you under your plate edge. time to un-learn the relaxed habits OOPS: The fork is in your fist and the steak looks we have developed while working stabbed by it. RULES: Hold the fork similar to a pencil. from home these five months. Here Use the knife and fork at an approximate 45˚ angle to is a light-hearted refresher on dining the plate. WHY: This keeps your elbows close to your etiquette. body instead of flapping about like wings. Stabbing HAYNES OOPS: Someone used their fork and sawing food looks excessive and heavy-handed. to cut lasagna into many pieces as if OOPS: A knife was placed on the table after being preparing to feed a child. RULES: The knife cuts food; used. RULE: Soiled utensils are never placed on the the fork conveys the food to the mouth. Cut only one table. When not in your hands, the utensils remain on small bite at a time. WHY: One small bite at a time your plate or in your bowl or glass. WHY: Staining a slows the dining process, enabling one to enjoy the tablecloth with food is thoughtless and messy. When food while visiting at the tafinished, place the utensils ble. In ancient times, intact, in a position to prevent It is time to un-learn the leftover food was for servants them from falling off when relaxed habits we have to eat. Food in small pieces retrieved by the waiter. was typically bone, gristle, developed while working Knives and forks are placed or tasteless and fed to the parallel to each other with from home these five animals. the base in the 4 position on OOPS: You reach for your months. a clock and the points in the drink but it is gone. Appar10 position. ently, the person to your When dining with people, right took it. Please do not swipe the glass from the the point is to enjoy the food and each other. Rule #1: place setting on your left. That starts a domino effect Don’t gross-out people with poor visual manners. Rule around the table. Instead, ask the waiter to bring you #2: Engage in polite conversation. Dining together a drink. RULES: All drinks are on the right side of the is for strengthening relationships, not to market oneplate. Correcting a person who goofed is a cardinal sin self. Rule #3: Slow down and keep pace with everyin the etiquette world. WHY: Drinks are placed on the one else. Start and finish together. If the rules are too top right of a place setting because most people are cumbersome, one could always remain at home and right-handed. Correcting other adults is rude. Howscarf down your meal like you were raised by a pack of ever, teaching by correct example is saintly. wolves. OOPS: Someone has scattered sugar packet papers around your place settings. RULES: Keep the table TERI HAYNES | BUSINESS INTERACTIONS, LLC | clean. Tuck paper pieces under your bread plate edge. IMPROVING HUMAN INTERACTIONS IN BUSINESS
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Downtown: Flurry of activity taking place in real estate
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Bars and large events like the Red River Revel and Louisiana Film Prize have been especially hard hit, with little help in sight. For many of them, the challenges faced are completely out of their control. Some bars have been able to convert to restaurants in a limited fashion, the Louisiana Film Prize is using all of its significant skills and moxie to put on a virtual event that people will want to pay to see, still others like the Red River Revel and Mudbug Madness opted to sit 2020 out. Governing says our desire to be around other people hasn’t gone
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away and the facts around COVID don’t prove that urban density is making more people sick. In fact, scientific reports show cases have been more prevalent in the suburbs than in city centers. A Brookings study came to the same conclusion. “ While diseases will come and go,” it said, “we can always retrofit our cities to make us feel safe while still delivering the proximity we crave.” You can see this in businesses, buildings, and restaurants in downtown Shreveport. When you claim a seat to a movie at Robinson Film Center, no one will be seated anywhere around you. A meal at any of our restaurants puts you far away from other diners. Elevators are
limited to a maximum of two riders. Talk has shifted from downtown offices being vacated to the need for MORE office space to allow a flip from open concept space to individual offices that offer walls and some physical barriers. There is currently a flurry of real estate activity downtown as developers look at incentives afforded by our Opportunity Zone and Historic Tax Credits and see buildings that are well-priced and ready for rehab. Though things are not back to anything approaching normal, new businesses are opening and others are making plans to, and event producers have learned how to provide group
gatherings that are both fun and safe. Downtown continues to be a draw. There is no doubt there is a long road ahead and we don’t know exactly where it will take us. We will need to continue to support those businesses, venues, and organizations we want to survive and spend our money locally as much as possible. We will wear our masks, wash our hands, and sanitize up a storm to protect others and ourselves. More than anything, we WILL come back, and it will be a wonderful thing when we do. LIZ SWAINE | EXECUTIVE DIRECTOR, DOWNTOWN DEVELOPMENT AUTHORITY.
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Compassionate Care In Every Direction
✓ Convenient hospitals ✓ Locally operated since 1924
✓ Exceptional technology ✓ Louisiana’s only Proton Therapy Center ✓ Unwavering community support ✓ Skilled doctors and nurses
WK
Palmetto
Village
Willis-Knighton Health System | Shreveport & Bossier City wkhs.com
Coming in 2021 - 3 new Bossier locations OCT 2020
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