News Summary
New Orleans has received a $50 million investment to boost its economic landscape through the Newlab New Orleans innovation hub. This announcement was made at the Louisiana State Capitol by Economic Development Secretary Susan Bourgeois, coinciding with record economic growth in Louisiana and the creation of 70,000 new jobs from ongoing projects. Significant developments include investments from Meta, Hyundai, and other companies. Louisiana is also recognized for its conducive business environment, achieving a No. 9 ranking from Area Development Magazine.
New Orleans has secured a significant boost to its economic landscape with a newly announced $50 million investment in the Newlab New Orleans innovation hub. The announcement was made by Louisiana Economic Development Secretary Susan Bourgeois during a press conference at the Louisiana State Capitol on May 12, 2025.
This investment comes as Louisiana experiences record economic growth, reinforced by Bourgeois’ keynote presentation at the Tulane Business Forum. Over the past 21 months, the state has witnessed considerable outside investment, including two major projects: a $10 billion data center by Meta in northern Louisiana and a nearly $6 billion steel plant by Hyundai near Baton Rouge.
Bourgeois highlighted the importance of this momentum, expressing the need for Louisianans to regain confidence in the state’s economic prospects. A total of 58 announced projects are expected to generate approximately 70,000 new jobs in the region, reflecting a strong commitment to fostering future growth.
Further underscoring the positive trend, notable investments since Bourgeois took office in 2024 include the Woodside Energy and Venture Global liquefied natural gas (LNG) projects, as well as a new CF Industries blue ammonia plant in Ascension Parish. Recently, Louisiana-based electrical contractor MMR revealed a $55 million expansion of its manufacturing capabilities in Lafayette Parish.
Additionally, the Meta data center has created opportunities for local businesses. For instance, Robertson Produce has secured a contract to supply food for construction workers employed at the site. This indicates a positive ripple effect throughout the local economy as new projects kick off.
The Tulane Business Forum, which attracted approximately 500 attendees, featured numerous panels focusing on diverse topics. Among these were discussions on the impact of Trump Administration tariffs on the coffee industry, as well as the role of artificial intelligence in assisting law firms with data discovery tasks, led by Christopher Ralston, an attorney at Phelps Dunbar. Tulane University President Michael Fitts also presented plans for expanding the school’s downtown campus and redeveloping the former Charity Hospital building.
Furthermore, Louisiana has recently achieved a notable recognition, securing a Top 10 ranking from Area Development Magazine for the first time in five years, landing at the No. 9 position for its business environment. This ranking reflects a national survey evaluating critical factors such as permitting speed, workforce alignment, and infrastructure development.
To keep the momentum going, the state has been promoting its LED FastStart workforce training program, aimed at meeting the specific needs of new employers. Additionally, Governor Jeff Landry has initiated the “Project Lightning Speed” program, which is designed to enhance interagency coordination to support business projects effectively.
Moreover, Louisiana has established a new $150 million Site Investment and Infrastructure Improvement Fund, aimed at creating investment-ready sites for businesses within the state. This initiative is another testament to Louisiana’s efforts to strengthen its economic framework.
Historically, Louisiana has previously been ranked in the Top 10 in 2018 but faced challenges in maintaining that status until now. The recent positive developments indicate a regained momentum in the competitive landscape and commitment to fostering a robust economic environment.
Deeper Dive: News & Info About This Topic
- The Town Talk: Louisiana Central to Host 10 Economic Development Roadshows
- NOLA.com: Tulane Business Forum Led by Secretary
- Business Report: Louisiana Named a Top 10 Economic Growth Leader
- Biz New Orleans: Louisiana Ranked Top 10 by Area Development
- KPLC: New Economic Improvement Survey Available to the Public
- Wikipedia: Louisiana
- Google Search: Louisiana Economic Development
- Google Scholar: Louisiana Economic Growth
- Encyclopedia Britannica: Economy
- Google News: Louisiana News
Author: STAFF HERE NEWORLEANS WRITER
NEW ORLEANS STAFF WRITER The NEW ORLEANS STAFF WRITER represents the experienced team at HERENewOrleans.com, your go-to source for actionable local news and information in New Orleans, Orleans Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as French Quarter Festival, New Orleans Jazz & Heritage Festival, and Essence Music Festival. Our coverage extends to key organizations like the New Orleans Chamber of Commerce and Greater New Orleans, Inc., plus leading businesses in energy, healthcare, and education that power the local economy such as Entergy, Ochsner Health, and Tulane University. As part of the broader HERE network, including HEREShreveport.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
