Louisianans have a lot to be proud of.
Let’s start with one of the best feel-good headlines of the past year: a record $255.5 billion state gross domestic product showing faster growth than the rest of the country, mainly driven by our robust, world-class energy sector.
How about Dow Chemical’s recent announcement of their plan to devote $2 billion to new chemical manufacturing investments? Its decision will create amazing jobs and an economic surplus.
But the big investments and record-breaking headlines don’t stop there. In 2020, we are expecting $117 billion in capital investment projects into southwest Louisiana. To top it all off, Louisiana’s fisheries now provide nearly a third of the seafood eaten in the U.S. — imagine how many families are supported by that.
The fact is that Louisiana enjoys sustained economic growth when the state promotes sensible development of various energy sources, continued infrastructure improvements and stable business regulations. It’s a simple, proven formula.
During this elections cycle, an issue that could jeopardize stability for one of the top drivers of investment in Louisiana is on the ballot and Louisianans have a chance to make sure the good headlines keep coming.
Voting “Yes” on Constitutional Amendment #1 will help keep these investments going strong, encourage new projects to come to Louisiana and minimize other taxes and expenses on materials, tools and equipment needed for drilling and production in the Outer continental shelf, far from Louisiana’s coastline.
A “Yes” vote will help bring much-needed clarity to an ambiguous portion of the Louisiana tax code and prevent unexpected taxes for businesses across the state.
With a “yes” vote on Constitutional Amendment No. 1, Louisianans can continue to support energy, an industry that supports us every day. The impact of oil and natural gas is undeniable. It is responsible for the products and services we use or consume daily and helps create good jobs that provide food and shelter for millions of families here and nationwide.
Louisiana-produced energy has already attracted more than $142 billion in energy manufacturing projects throughout the state in recent years. This investment translates to even more jobs, more economic opportunity and, ultimately, more Americans moving out of poverty.
Other industries like hotels, restaurants and stores will benefit from an increase in nearby workers and residents, as will our ports, which already support about 77,000 jobs and $4.1 billion in annual wages.
The simple fact is, these good headlines are not possible without responsible pro-growth laws and regulations. A “Yes” vote on Constitutional Amendment No. 1 is a vote for good headlines, a vote to be competitive and a vote for Louisiana jobs.
Consumer Energy Alliance