Louisiana leads nation in industrial construction value

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La. leads nation in industrial construction value

TIMOTHY BOONE
tboone@theadvocate.com
July 23, 2014

Louisiana led all U.S. states in the value of industrial construction projects during 2013 and was ranked second overall for all commercial construction, according to a new report released Tuesday.

Nearly $4.9 billion in direct industrial construction spending happened in Louisiana last year, well ahead of Iowa, which was second with just over $2 billion in industrial construction projects, according to the study released by the NAIOP Research Foundation. NAIOP is the national commercial real estate development association.

All that industrial construction powered Louisiana to more than $5.5 billion in overall commercial construction projects. Texas, which had nearly $5.8 billion in direct commercial construction spending was first, while New York, at $4.8 billion, was third.

There is nearly $84 billion in announced chemical plant construction in the pipeline for Louisiana, with much of the activity along the Mississippi River from Baton Rouge to New Orleans and in Lake Charles.

Some of the major projects could be shifted quickly, because of economic uncertainty or unrest around the world, said Scot Guidry, an agent with Mike Falgoust & Associates Commercial Real Estate.

“Really, no one has a crystal ball, but it looks good for this area for a while to come,” he said.

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