The Baton Rouge area continued in 2017 to grow its economy while thousands of homeowners and businesses worked to recover from the damaging August 2016 flood.
Construction from the state’s industrial boom helped buoy the job market, though it’s winding down from peak levels, while health care created a new wave of activity that will carry into the next two years. Plenty of other events made business headlines in a look back at 2017:
Industrial boom winding down
The massive industrial projects that drove the Baton Rouge area’s economy the past five years are all but complete coming out of 2017, which means growth will slow over the next two years though buoyed somewhat by several health care construction projects.
“The decline in construction employment will have an arresting effect on total employment … especially in 2018,” economist Loren Scott said in the latest version of the Louisiana Economic Outlook.
The “super-heated growth” that took place from 2014-16 will settle to a more modest pace: 0.7 percent growth, or 2,900 jobs, in 2018