In what was an obvious sales pitch, North Louisiana Economic Partnership (NLEP) president Scott Martinez addressed the Caddo Commission on Monday. And it was a good report.
NLEP serves a 14 parish north Louisiana area. It is one of less than 65 Accredited Economic Development Organizations in the world.
The commission currently funds NLEP $75 grand. In 2018 it funded $125 thousand.
NLEP has already attended 3 recruitment and marketing trips this year. Sixty three (63%) percent of its marketing leads are generated in house.
Once leads enter the NLEP business development pipeline, comprehensive Requests for Information (RFIs) are submitted to prospective companies looking to expand. NLEP then provides turn-key economic development services and manage projects from start to completion.
At the end of the first quarter, NLELP had 43 projects in its development pipeline. The report indicated that the typical project had an economic impact of 130 jobs and $65 million in capital investment.
Other highlights included the improvement in parish economic conditions. The April unemployment rate was 4.0 percent, down from 4.3 percent in March of this year. It was 5 percent in April 2018.
Shreveport-Bossier MSA cost of living was 93.8 percent of the national average. This makes this area one of the most affordable places to live in Louisiana.
More of the NLEP report to be published soon.