Major Economic Win for the Greater New Orleans Region
DXC Technology to create 2,000 high-paying jobs.
The greater New Orleans region is celebrating a monumental economic win with the announcement that DXC Technology will establish a Digital Transformation Center in New Orleans’s Central Business District. (The site location will be finalized and announced soon.) The new Digital Transformation Center is expected to create 2,000 permanent high-paying jobs over the next seven years, and an annual payroll exceeding $133 million by 2025. This marks one of the largest economic development deals in the history of Louisiana.
DXC Technology is a new business venture resulting from the merger of Computer Sciences Corp (CSC) and the Enterprise Services business of Hewlett Packard Enterprise (HPE)—and is a global leader in IT services.
This deal has been in the works for a very long time, and yesterday, New Orleans Mayor Landrieu, along with many government and community officials, economic development organizations, and higher education leaders brought the project to fruition. The Digital Transformation Center was heavily competed for but New Orleans emerged as the front-runner on a short list of great cities across the country.
As New Orleans approaches its 300th anniversary, this is truly a significant milestone for the city. This economic development win is yet another testament to the emergence of New Orleans as one of the top cities for young professionals to work, and reinforces the momentum of our area as a major technology hub.
This is an exciting time for New Orleans. We have celebrated many economic successes and accomplishments over the last several years, and this is just the beginning. Stirling Properties is proud to be a part of this thriving region!
Learn more about the announcement from LED (Louisiana Economic Development).
Super Region Economy Driving Louisiana Growth
Well respected Louisiana economic experts, Dr. Loren Scott and Dr. James Richardson, released the results of their 2015 Louisiana Economic Outlook.
Based on their forecast, Louisiana will set records statewide and in a number of metro areas for the most non-farm jobs in its history, surpassing 2 million across the state.
The Super Region – consisting of Baton Rouge, Houma-Thibodaux and New Orleans – is forecast to see incredible growth over the next two years. The area is expected to produce 62 percent of Louisiana’s non-farm job creation – a combined 41,400 of the state’s 66,700 new jobs by the end of 2016.
While much of this growth is being fueled by the industrial boom from Lake Charles to Baton Rouge and down river to New Orleans, the encouraging fact is that there are several other sectors, both traditional and emerging, that make Louisiana more diverse. Traditional sectors include international trade, advanced manufacturing and energy. Digital media, information technology, emerging environmental related to water and water management, coastal restoration, and medical are among Louisiana’s emerging sectors.
Putting all of these together, the future has never been brighter for our state and our region.
For additional news coverage about the 2015 Louisiana Economic Outlook:
- “Louisiana forecast to gain 66,700 jobs through 2016”
The Advocate - “News alert: Scott sees La. reaching record employment in 2015”
Greater Baton Rouge Business Report - “Baton Rouge’s more than $16 billion in industrial projects expected to drive jobs beyond 400K in 2015”
NOLA.com
ACREcon Keynote Presentation
Last week I traveled to Birmingham to deliver the keynote address at ACREcon, the annual conference hosted by the Alabama Center for Real Estate (ACRE). ACRE is a well-organized, statewide commercial real estate group and I was honored to be asked to speak at their event. I was very impressed with the meeting and the record-setting attendance.
During the presentation, I introduced myself and Stirling Properties to many in the ACREcon audience who weren’t familiar with us and discussed our decision to open an office in Mobile – our first in Alabama. Emphasizing the importance of regionalism, I also discussed the rise of the Gulf Coast into the National spotlight and the significant economic drivers that are shaping the region’s future growth.
Click the image below to view the presentation slides from my keynote.
Southeast Super-Region Committee awarded gold medal by IEDC
Just a few short years ago, I was interviewed by a reporter for an article focusing on the extreme divisiveness, dislike and disdain between New Orleans and Baton Rouge. At that time, I even wrote an opinion column, The Feud is Fading, pointing out the futility in this situation and how it was preventing our region from competing nationally and globally.
It was from those roots that discussions began among a small group who had business interests which cross parish lines, from New Orleans and Baton Rouge, to form the Southeast Super- Region Committee. So today it is truly exciting and gratifying to have the Super-Region Committee being recognized for an award for cross collaboration by the International Economic Development Council (IEDC).
To me, this represents hope for the continued future success of our region.
Click here to see the article released by Greater New Orleans, Inc.
Market Research Updates – Rankings and Market Snapshots
Check out all the latest Market Research available from Stirling Properties.
- State of Louisiana
- Greater New Orleans
- Greater Baton Rouge
- Acadiana Market / Lafayette
- North & Central Louisiana
- Houma & Morgan City
- Lake Charles Metro
- Mississippi & Gulf Coast
- New Orleans Southshore
- New Orleans Northshore
- Baton Rouge Metro
- Acadiana Market / Lafayette
- Shreveport / Bossier City
- Mississippi Gulf Coast
For additional market information, contact one of our agents today.
Climbing Back to Prerecession Employment Levels
The Atlanta Fed’s SouthPoint blog provides commentary and observations on regional economic topics, issues, industries, and trends. “The Long Climb Ahead”, a recent blog post by Michael Chriszt, assistant vice president in the Atlanta Fed’s research department, explores how the states are doing in terms of getting back to prerecession employment levels, with a particular emphasis on Louisiana, Mississippi, Alabama, Florida, Georgia & Tennessee. According to the post, “Georgia has not even started its climb, and when Florida looks up at where it needs to go to get back to where it was in terms of total employment, its climb is incredibly steep. Alabama has a long way to go, Mississippi and Tennessee are a bit farther along, and Louisiana is getting close to the summit.”
Mr. Chriszt also includes charts that highlight the divergence between public and private sector employment growth. “Only six states fall in the ‘expanding’ quadrant for government employment, and only two states have private sector employment that falls in the ‘lagging’ quadrant.” Consistent with the overall findings, Louisiana’s private sector employment momentum is ‘expanding’, although government employment momentum is ‘lagging’. Click here to read the entire post
