State economic development officials, including Gov. Blanco, are not ignoring the state's legacy industries as they work to cultivate new ones. Energy and petrochemicals remain key industries in Louisiana despite the toll high energy prices are taking on them. The governor is particularly keen on bringing liquefied natural gas (LNG) terminals to the state, which can generate from $400 million to $800 million in investment per terminal and generate a substantial number of new jobs.
      "The LNG terminal issue will be a very big one for our state going forward," says Loren C. Scott, president of Loren C. Scott & Associates, an economic consulting firm. Dr. Scott was chairman of the economics department at Louisiana State University and is co-developer of the Louisiana econometric model, which forecasts the state's economy. Of the energy industry's prospects in general, Scott says, "There is an advantage to being comfortable with the oil and gas extraction industry. We've had it here forever, and people here are not afraid of it. They have seen the changes that have taken place in the industry over time. There are virtually no spills or problems offshore — technology is so advanced that it's really not an issue any more."
      As many as eight LNG terminals could be built in Louisiana, according to a recent edition of LSU's Louisiana Economic Outlook report. (The report forecasts the creation of more than 40,000 new jobs in Louisiana in 2005 and 2006, with significant activity in the construction and transportation equipment sectors.) And LSU's Center for Energy Studies has estimated that construction of the terminals would create up to 14,000 jobs. "This is a real bright spot for us," says Scott.
      In November 2004, Houston-based Cheniere Energy, Inc., secured an option on a site at th

This editorial survey of investment opportunities in Louisiana, was prepared by the staff of Conway Data Inc., Norcross, Ga., under the auspices of the Louisiana Department of Economic Development. For more information call (225) 342-3000 or visit www.led.state.la.us. For information on Site Selection editorial surveys, contact Mark Arend, Editor, at mark.arend@conway.com or (770) 325-3438.

e mouth of Calcasieu Channel in Cameron Parish, La., to develop its fourth proposed LNG facility on the U.S. Gulf coast. Two are proposed for sites in Texas. The terminal will be the company's second in Cameron Parish and will resemble the first one to be developed there at Sabine Pass. The latest, Creole Trail LNG, "will bring additional supplies of natural gas that will help boost the local and state economy and help ensure that energy-intensive industries stay in Louisiana," says David Dismukes, director of LSU's Center for Energy Studies.
      Louisiana's chemical industry may be taking a hit from energy prices, but investment in the sector continues. In February 2004, ExxonMobil Chemical started operations at a new commercial metallocene ethylene elastomer manufacturing plant in Baton Rouge.
      State officials and the Louisiana business community know the state is not out of the woods economically just yet. But a cautious optimism can be found all over the state in industries old and new. For the first time in a long time, there is a different tune coming out of Baton Rouge. With every company that is persuaded to rethink moving out of the state — and with every company that locates there from somewhere else — Louisiana's students have another reason to stay home and prosper too.