Louisiana economist Loren Scott has released his outlook for 2020-2021, and it is not good news for the Shreveport/Bossier area.The annual report helps people understand the state’s economy, and gives business leaders and idea of what to expect in the future. A few of Scott’s predictions from last year have shifted a bit. Part of the outlook explains expectations for the Shreveport-Bossier area, which also includes Webster and DeSoto parishes.
Last year, Scott predicted the region would add 600 jobs in 2019 and 2020. But this year’s report cuts that to 300 jobs over the next two years. That puts the region in the lowest growth rate in the state. The report also states the area could lose 900 jobs this year.
More than 1,300 gaming industry jobs were lost between 2014 to this year, according to data from the Louisiana Gaming Control Board. The outlook also explains revenue at the casinos and race track have fallen by $67.2 million during that time.
Scott also predicts a loss of 263 military and civilian positions at Barksdale Air Force Base.
There is section describing hope for the Haynesville Shale. Scott said the shale’s rig count is an area to watch.
In June of 2016, there were only 15 rigs. Now there’s about 35.
Low natural gas prices are expected to slow that development. But Scott is hopeful liquefied natural gas plants to the south and new pipelines will be good news for the shale’s future.
Elsewhere, Scott predicts General Dynamics will help this region’s economy. The IT business is expected to add more jobs.
The Port of Caddo-Bossier will also need more workers as several tenants there have plans to expand.
.Last year’s report expected the state to add 23,000 jobs in 2019, and more than 36,000 in 2020. That’s shifted down a bit. This year’s report predicts more than 24,000 jobs will be added in 2020, and 28,000 in 2021.
Scott will be at the Port of Caddo-Bossier this Friday to go over his report.
