Economy

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Louisiana's Medicaid expansion program has helped create or support nearly 19,200 jobs across the state and $178 million in state and local taxes.

That's according to an economic analysis done by three LSU professors hired by the state health department to look at the program during the 2016-17 budget year.

The study determined that the infusion of $1.8 billion in federal spending on health care through the Medicaid expansion had a $3.5 billion economic impact in Louisiana.

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Governor John Bel Edwards and state Health Secretary Dr. Rebekah Gee unveiled a report on the economic impact of Medicaid expansion. Edwards says according to the LSU report, Louisiana is saving 317-million dollars in state money and providing medical care to those who can’t afford it.

 

Edwards says, "From a public health perspective, we're saving lives in Louisiana, and we're ensuring that our workforce is healthy and ready to fill the jobs that we're creating all through the state."

 

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The state Department of Agriculture and Forestry is teaming up with the LSU AgCenter to fight citrus canker disease.  The disease is spread by wind driven rain, causing lesions on the leaves and fruit.  It was first found in the state in 2013 at City Park in New Orleans.  State Ag Commissioner Mike Strain says there is no cure right now, but hopes their research will produce results to slow the disease.

 

Strain hopes that a sample will be found that is "resistant to the disease." 

 

Americans In Debt Deeper Than Ever

Feb 19, 2018
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Many Americans are swimming in debt and getting in deeper than ever. One report suggests total household debt has risen to 13-trillion-dollars for 2017.  Louisiana appears to be America’s capital of past due debt, with almost half of its residents in debt that has gone into collections.  Professor of Economics at Xavier University of Louisiana Dr. Jose Bautista says a lot of workers aren’t making enough money.

 

Drax Moves Headquarters To Monroe

Feb 9, 2018
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Drax Biomass is relocating its headquarters from Atlanta to Monroe, in what Governor John Bel Edwards is hailing as another big win for Louisiana’s economy. Drax already operates two wood pellet manufacturing facilities and a shipping operation in the state. Monroe Chamber of Commerce President and CEO Sue Nicholson says that means 150 good paying jobs are on the way.

 

Nicholson says Monroe’s economy is booming, and having ULM, Grambling, and Louisiana Tech all within 45 minutes provides companies with a highly educated pool of workers to choose from.

 

Senator Brings Attention To Tax Reform

Sep 27, 2017
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Now that Senate GOP leaders have decided not to vote on a bill that would repeal Obamacare, Louisiana’s Junior Senator John Kennedy says it’s time for Congress to focus on tax reform. He says cutting taxes is the only thing that will get the economy moving again…:

Kennedy says citizens are taxed on just about every single thing they do, and over-regulation is strangling the economy. He says his goal is to implement tax cuts, both for middle class Americans and for businesses, by November…:

businessinsider.com

Falling oil prices are causing companies to cut spending this year.  One of the latest moves is by Lafayette-based Stone Energy Corporation.

This week, Stone announced it plans to cut spending by more than half of what they spent a year ago.  Louisiana Oil and Gas Association Vice President Gifford Briggs say continued low prices are forcing the industry to scale back.  "They (oil companies) are doing what they feel they need to do, it's not unexpected," said Briggs.