The Baton Rouge Area Chamber (BRAC) announced today that Site Selection magazine has listed the Capital Region as one of the top ten metro areas (population between 200,000 and 1 million) for new and expanded corporate facilities in 2012. The magazine uses its “New Plant Database” to track business development projects with a significant impact. Based on the database’s criteria, the Baton Rouge area finished the year with thirty-four qualifying projects, bringing the region in at number four on the list. This is the third year in a row that the region has finished in the top ten.
“Being recognized on this list for a third year in a row would have been impossible without a true regional strategy and partnership. We thank the leaders of our nine parishes for their great work last year, as well as our state partners,” said Adam Knapp, BRAC’s president and CEO. “BRAC is looking forward to another successful year for regional economic development in 2013.”
The Site Selection database follows new facilities and expansions on the basis of three factors: (a.) involves a capital investment of at least $1 million; (b.) creates at least fifty new jobs; or (c.) adds at least 20,000 square feet of new floor space. It does not track retail and government projects, schools, or hospitals.
BRAC worked with thirteen companies in 2012 which announced expansions or relocations in the region. These projects will result in the creation of over 1,128 new jobs, $78.1 million in new payroll, and $3.5 billion in capital investment. The average wage per job announced was $69,237, a new BRAC record.
The top ten list of metropolitan statistical area populations between 200,000 and 1 million and their total of qualifying projects includes: Dayton, OH (53); Tulsa, OK (41); Omaha-Council Bluffs, NE-IA (38); Baton Rouge, LA (34); Lancaster, PA (33); Greensboro-High Point, NC (30); Lexington-Fayette, KY (29); Akron, OH (25); Allentown-Bethlehem-Easton, PA-NJ (24); and Grand Rapids, MI (23).