Tri-parishes poised for continued growth

Three local leaders agreed that Lafourche and Terrebonne Parish are likely to see continued business growth in the near future, barring another major storm.

“All of it depends on if we have a hurricane or not,” said Kandy Theriot, president/CEO of the Houma-Terrebonne Chamber of Commerce.

In statewide-unadjusted unemployment rates released last Friday, Lafourche and Terrebonne parishes were at or near the top of the rankings in lowest unemployment. Lafourche was tied with Lafayette for the lowest unemployment rate at 2.6 percent in March 2007. Terrebonne Parish had the second-lowest unemployment rate at 2.8 percent for March 2007.

The employment base also grew for both parishes, with both gaining just under 3,000 new workers.

Theriot said she anticipates the continued growth of Terrebonne Parish. That growth, she said, hinges on more workers moving into the area. “I think that in the next 10 years, this area will continue to grow and be prosperous. I think more and more people are moving here because there is a lot of employment opportunities,” she explained.

Theriot pointed to strong manufacturing, shipbuilding, transportation, and oil and gas industries as the main assets that bring people to the area. “And our culture and weather are such that people enjoy living here,” she added.

A side effect of that skilled labor moving to the area is that retailers will also come, said Theriot.

“Typically, skilled labor means a good salary with benefits,” she explained. “It’ll be a good inducement for even more retailing to come here. You need a strong economy for retailers to come. The retailers aren’t what are building our community. It’s the other industries, and that means the retailers are coming because we have a strong economy.”

But if people are to continue to move to Terrebonne, Theriot says the parish’s housing shortage needs to be addressed. “We do have a housing shortage right now,” she said. “It’s very difficult to find rental property, so we need more places for people to live.”

Theriot said meetings have been held to bring developers, real estate agents and insurance agents to the table in order to brainstorm ways to get the word out to developers that housing is needed. “A lot of our industry is willing to help their employees to purchase housing,” she added. “So that will be a help.”

She also said road improvements will need to occur.

Theriot said future growth in Terrebonne parish lies along the corridor along US 90 and LA 311. “It’s all going to be built up with light industry,” she said, “and possibly a community college.”

In Thibodaux, Kathy Benoit, president/CEO of the Thibodaux Chamber of Commerce, said growth along North Canal Boulevard is the most obvious in the city. “Both retail and residentially, which is a nice combination,” said Benoit, of the growth. “From everything that I’m hearing, there’s a lot more to come.”

On the west side of Thibodaux, the Rouse family recently purchased the old K-Mart shopping center. “They are in the process of a wonderful restoration project,” she said. “I expect other development to come to that area, as well.”

Benoit said for the business growth to continue, it is vital for the city’s economy to continue growing. She pointed to recent growth at Thibodaux Regional Medical Center as a factor in the city’s healthy economy.

“The expansion at the hospital is bringing in a large number of new professionals to the area,” explained Benoit. “There’s going to be an increasing demand for certain amenities, because of the growth in population.”

Benoit also pointed to Nicholls State as a factor. “Nicholls also contributes to that number,” she said. “There’s a number of professionals there, and that just continues to grow.”

She said there are specific retailers that could be headed to Thibodaux, but declined to name them because of lack of confirmation.

In the south Lafourche area, Lin Kiger, president/CEO of The Chamber of Lafourche and the Bayou Region, said he expects growth in the area because of improvements in infrastructure.

“I believe that at the rate our infrastructure is going, it’s offering the community an opportunity to grow in order to support what’s happening here infrastructure wise,” said Kiger. “There’s business that’s benefiting in that regard.”

Infrastructure projects that Kiger pointed to are the Leeville overpass and the elevated highway to support the overpass.

And as expected, Kiger pointed the oil and gas industry. “Those are doing extremely well,” he said. “I see support for those industries really helping and us benefiting from that.

“From a local standpoint, we have subdivisions that are being developed and homes being built,” he said. “That is the trend now. I’d like to see it continue, and it seems like it will.”