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The Louisiana Association of Business and Industry (LABI) held its 2024 Annual Meeting at the Crowne Plaza today in Baton Rouge. The morning Legislative Leadership Panel featured Senate President Cameron Henry and Speaker of the House Phillip Devillier who discussed insurance stabilization, education and workforce development, and tax reform with LABI President and CEO Will Green. Governor Jeff Landry served as keynote speaker at the luncheon and brought Louisiana Economic Development Secretary Susan Bonnett Bourgeois to the stage along with Secretary of Louisiana Workforce Commission Susie Schowen. The governor and his secretaries were followed by Louisiana Commissioner of Insurance Tim Temple who discussed his goals to fix the insurance crisis.
During the luncheon, Governor Landry signed an executive order to make significant changes to the Industrial Tax Exemption Program (ITEP). The executive order includes keeping the cap limiting the property tax exemption to 80 percent, removes the job creation requirement that was added during the previous administration and changes the approval process to a one-stop-shop at the local level.
“As we look to grow and improve our business climate, the governor’s announcement sends a strong message to boardrooms across America that Louisiana is back open for investment,” said Green. “For too long our state has not been in the discussion when it comes to out-of-state manufacturers deciding where to locate their facilities. We appreciate Gov. Landry’s decision to bring us back into the fold, and what a better place to make this announcement than at the LABI Annual Meeting.”
“The importance of this announcement cannot be overstated,” said LABI Board Chairman and co-owner of Advantous, Jason DeCuir. “We are pleased that the governor is taking this major step to bring major manufacturers, and their economic investment to Louisiana.”
More than 1,000 people attended this year’s event as Louisiana has ushered in a new governor, new legislature and new administration, all sharing significant new plans for the future.
