The Baton Rouge breadth took a big hit in August from calamity rains but stood aing on an abridgement congenital on six beeline years of job growth.
Here’s a glance at those and added contest that topped breadth business account in 2016:
Nearly bristles months accept anesthetized aback the August flood inundated tens of bags of breadth homes and businesses, but the disaster’s appulse continues to ripple through the bounded economy.
Early on, LSU economist Jim Richardson said it will booty the breadth a year to balance and that businesses would animation aback the fastest.
Richardson’s predicted sales tax collections fasten has materialized. Bounded governments accept apparent aciculate increases — Livingston Parish’s sales tax collections jumped 50 percent in November — as bodies purchased architecture abstracts and vehicles. A mix of flood insurance, federal abetment and claimed expenditures are acknowledging the activity.
But it’s still cryptic how abounding of the businesses shuttered by the floods will reopen or how abounding that accept reopened will survive. As abounding as 12,000 businesses are anticipation to accept flooded. The National Flood Allowance Affairs estimates that aing to 40 percent of businesses bankrupt by calamity never reopen.
The appulse on bounded governments and academy boards will depend on what affectionate of sales and acreage taxes those businesses generated and how abounding bodies they employed. Meanwhile, anniversary dollar that goes to flood accretion may be one beneath dollar that flood victims spent at acceptable retailers during the holidays. The hardest-hit areas, Livingston Parish and Central, are additionally accepted to see the better appulse on anniversary sales.
Longer-term, the flood’s bread-and-er appulse charcoal unclear. In Livingston Parish, breadth added than bisected the homes may accept flooded, adjourned ethics of structures are actuality cut by 20 percent. In East Baton Rouge Parish, about 41,000 structures abounding and will accept a 35 percent discount. In Ascension Parish, some 6,000 structures accustomed discounts averaging 40 percent to 50 percent.
The calamity devastated so abounding homes that the Greater Baton Rouge Association of Realtors created a new class for houses actuality awash “as is” or “damaged flooded” by homeowners either financially or physically erfingers of rebuilding, afraid to abide the action or accumulation allowance money and the auction funds to escape mortgages and the affliction of rebuilding. Admitting that, or maybe partly because of that, home sales are booming. Pending sales in the breadth soared 49 percent in November. Real acreage agents say the billow may be apprenticed by investors affairs flood-damaged homes either as approaching rentals or to fix and cast to buyers or added investors.
During November, 133 MLS sales — about 15 percent of absolute sales — were for homes that were listed “as is.” The boilerplate sales bulk of homes alone by 5.4 percent, a absorption of investors blasting up some flood-damaged properties.
Consumer and business spending in East Baton Rouge Parish added by 23.8 percent in Octob…
The Baton Rouge busline breadth abridgement stormed advanced in 2016, axle on 10,500 nonfarm jobs for the 12 months concluded November, according to basic abstracts from the U.S. Bureau of Labor Statistics.
Among Louisiana’s added busline areas, New Orleans, Lake Charles and Monroe added jobs; Lafayette, Houma, Shreveport and Alexandria absent jobs; and Hammond was banausic for the 12-month period.
Baton Rouge has added jobs over the year every ages aback January 2011. The better assets over the accomplished 12 months took abode in trade, busline and utilities, 3,000 jobs; retail trade, 2,700 jobs; and construction, 2,400 jobs. Accompaniment government alone 700 jobs.
Petrochemical investments spurred by bargain accustomed gas connected to accomplish its appulse acquainted in the Baton Rouge area, although economist Loren Scott said that action is acceptable to apathetic in 2017. Scott predicted the breadth will add 4,500 jobs, while the Baton Rouge Breadth Chamber’s anticipation calls for 6,000 new jobs.
With the alloyed after-effects about the state, the anticipation is beneath ablaze for Louisiana overall.
The accompaniment absent 6,200 jobs for the 12 months catastrophe November. Over the aforementioned 12-month period, U.S. nonfarm application grew by 1.6 percent. The numbers were not adapted for melancholia changes.
Scott expects the accompaniment will lose 700 jobs in 2017, as the furnishings of oil’s two-year bulk slump activate to dissipate.
The oil application appears to accept hit bottom. Although Lafayette absent 7,200 oil and gas jobs over the 12 months catastrophe in November, that’s beneath than the losses from the alpha of the year. In November, the accomplishment breadth absolutely absent added jobs than oil and gas, although the accident was affiliated to the oil downturn.
The LSU Agricultural Centermost pitched an $11 actor business plan to investors in October for a proposed medical marijuana greenhouse, accumulator and assembly facility.
The AgCenter is putting calm a architect alternative action for the production, abstraction and conception of medical marijuana for the state, said backer Frankie Gould. “We achievement to be able to move advanced in the aboriginal division of 2017.”
The business plan includes converting a 15,000-square-foot barn into a medical marijuana greenhouse, lab and assembly adeptness and operating it for at atomic bristles years. It could booty that connected afore the facility’s acquirement outstrips expenses. The bulk of the centermost and its operations will be adjourned by alfresco investors.
The LSU and Southern University agcenters accept a state-sanctioned cartel on the medical marijuana business. They won’t be affairs annihilation smokable. Accompaniment law requires the anesthetic to be in a aqueous form, such as an oil or spray; capsules or pills; comestible dosages; contemporary applications; transdermal patches; or suppositories.
The three Louisiana bloom insurers that are alms Affordable Affliction Act, or “Obamacare,” affairs for 2017 accept additional ante an boilerplate of 29.5 percent to 41 percent during the latest acceptance aeon in an accomplishment to arrest the tens of millions of dollars in losses incurred during the program’s aboriginal two years.
Market baton Blue Cross and Blue Shield added ante the most, by 41 percent on boilerplate although some barter may see premiums advance by 54.7 percent, according to Louisiana Allowance Department filings. Vantage Bloom Plan implemented a 31.5 percent access and Humana an boilerplate bulk access of 29.5 percent.
The bulk increases don’t beggarly all alone consumers will be advantageous added for coverage. Under the Affordable Affliction Act, consumers who accomplish amid 138 percent and 400 percent of the federal abjection akin are acceptable for banking assistance. Those banking subsidies access as bloom premiums go up.
The insurers say the bodies who enrolled in the alone affairs offered on the federal bloom allowance exchange were in accepted sicker and appropriate added care, a trend that is accepted to abide in 2017. Insurers additionally said they charge to awning increases in taxes and fees, and the end of a federal reinsurance affairs that helps assure insurers from cher claims.
Meanwhile, added than 84,000 bodies enrolled in Obamacare affairs with advantage starting Jan. 1 as of Dec. 19. That’s about a third beneath than enrolled for the aforementioned time aeon a year ago. The primary account for the acceptance dip is Louisiana’s amplification of Medicaid, which provides bloom affliction for the poor. Added than 350,000 Louisiana association accept enrolled in Medicaid aback the accompaniment broadcast the affairs aftermost year.
However, if a Republican-majority Congress repeals the Affordable Affliction Act, eliminating the Medicaid amplification and the subsidies for ObamaCare plans, an estimated 550,000 Louisiana association would lose bloom coverage, according to a address from the Centermost on Budget and Policy Priorities.
Insurance behemothic Unum acquired Baton Rouge-based Starmount Activity and anon appear affairs to about-face the eyes and dental allowance allowances specialist into a billion-dollar company.
Unum is a all-around agent allowances company. Its articles accommodate disability, activity and added bloom products. In 2017, a Starmount-powered barrage of Unum dental and eyes affairs will booty place. The dental affairs will be marketed regionally, with eyes allowances launched nationwide.
The new artefact launches are accepted to advance the advance of Starmount, which is already one of the fastest-growing dental and eyes allowance businesses and saw its anniversary exceptional jump from about $126 actor in 2015 to about $180 actor for 2016. Starmount has 230 advisers and expects to add as abounding as 30 in 2017 to handle the added business.
Home sales in busline Baton Rouge added by 24.4 percent in October, a assurance that the market…
Baton Rouge Accepted and Ochsner Bloom Arrangement aftermost ages alone affairs for a affiliation that would accept accordingly operated their three bounded hospitals and 31 clinics.
The General’s acting CEO Edgardo Tenreiro and Ochsner CEO Warner Thomas said both organizations abide financially and operationally able and abide accessible to continuing to analyze added opportunities to accommodate bulk for their patients.
When negotiations were appear in March, Thomas and then-Baton Rouge Accepted CEO Mark Slyter said accumulation armament would accomplish a deluge of advantages. Among those was the adeptness to added acerb attempt adjoin the Franciscan Missionaries of Our Lady Bloom System. Slyter had declared the proposed affiliation as the aing footfall in transforming bloom affliction in Baton Rouge.
The partnership, with a accumulated lath and leadership, was to accept overseen affliction in a nine-parish breadth and eventually four Mississippi counties while employing added than 5,000 people. The collective arrangement would accept included Baton Rouge General’s Mid Burghal and Bluebonnet campuses; Ochsner Medical Center-Baton Rouge on O’Neal Lane; 21 Baton Rouge Accepted physicians clinics; and 10 Ochsner bloom centers.
But in August, Baton Rouge Accepted appear that Slyter was out as CEO. At the time, Thomas issued a account that said Ochsner would abide to assignment with Baton Rouge Accepted and its leaders to agree a partnership.
Ochsner has been basic partnerships with assorted bloom organizations in contempo years to amalgamate their affairs ability and allotment assets to advice abate costs. The partnerships don’t absorb a acquirement or accretion by either organization.
Two high-profile Baton Rouge arcade centers — Towne Centermost and Perkins Rowe — saw changes in affairs in 2016.
Moody Ramblin, a Houston-based company, forth with American National Allowance Co., paid an bearding bulk in February to get a majority pale in Towne Center, the 370,000-square-foot development at Corporate Boulevard and Jefferson Highway.
“Our overarching ambition is to about-face Towne Centermost to the top of the apperception of everybody in Baton Rouge,” said Ed James, managing accomplice for Streetwise Retail, which now manages the development.
Streetwise managed to snag a addressee for a high-profile abstraction in the center, back New Orleans-based District Donuts appear it will move into the abandoned Starbucks atom in backward spring.
Trademark Acreage Co. bought a cogent pale in Perkins Rowe, the mixed-use development at Perkins Road and Bluebonnet Boulevard. While the Fort Worth, Texas-based aggregation wouldn’t acknowledge exact figures, Terry Montesi, arch controlling officer, said Trademark owns added than 10 percent of the property. The accord with TPC, which has a portfolio of flush arcade centers accession beyond the U.S., acquired TPG Capital to bead affairs to advertise Perkins Rowe.
As allotment of its efforts to “freshen up” Perkins Rowe, Trademark assassin Branden Barker, a well-respected acreage administrator anatomy NAI/Latter & Blum, to serve as accepted administrator of the center. One of Barker’s capital tasks is award a addressee for the abandoned Applebee’s atom in the advanced of Perkins Rowe.
Louisiana was ranked as the best abode for bartering and automated contractors to do busin…
Rouses Supermarkets acquired the nine locations of LeBlanc’s Aliment Stores in October, a move that affiliated two arresting south Louisiana grocery families and abundantly added Rouses’ attendance in Baton Rouge.
Donny Rouse, CEO of Thibodaux-based Rouses, said his ancestors and the LeBlancs accept agnate ethics and a adherence to affairs bounded and acknowledging bounded fishermen and farmers. “This absolutely is a absolute fit,” he said.
Rouses has developed decidedly aback 2007 admitting advancing acquisitions.
Along with the LeBlanc’s acquisition, Rouses opened its aboriginal Baton Rouge location, anchoring the Connected Farm Village Arcade Centermost on Airline Highway. The aggregation spent abundant of the additional bisected of the year reopening its Denham Springs store, which was abounding forth with all of Juban Crossing.
LeBlanc’s wasn’t the alone bounded grocery abundance to change easily in 2016. The Matherne’s Supermarket at Highland and Kenilworth was purchased by New Orleans-based Robért Beginning Market in February and rebranded. But affairs for Robért to buy and rebrand the Bluebonnet Boulevard Matherne’s fell through.
Robért had its eyes on Baton Rouge for several years.
Remaking old movies is as abundant of a Hollywood attitude as it is for crumbling actors and actresses to accommodate their faces. Bounded cine theaters got in the accommodate business in 2016, ability multimillion-dollar upgrades to advance such things as seating, drinks, restrooms and food.
Cinemark Perkins Rowe underwent a $2.4 actor advancement in the spring, which added affluence collapsed seats to the 16-screen theater, forth with a affair allowance and a breach room.
The Grand Cinema at George O’Neal Road bankrupt in August for a $3 actor expansion. The eight-screen amphitheater reopened in November as Celebrity Theater, the aforementioned name as its sister accessories in Broussard and Ruston. Celebrity Amphitheater now appearance collapsed seats, a new acknowledgment breadth and a bar affairs beer, wine and daiquiris. Admiral with the Morrison Companies, which owns Celebrity Theater, said they appetite to accomplish an accession to the amphitheater that will bifold the admeasurement of the acreage and add a ambit of ancestors affable activities, including a bowling alley, laser tag and braiding obstacle course.
And AMC was issued a architecture admittance in December for a $6.4 actor advance of its Baton Rouge 16 amphitheater a the Interstate 12-O’Neal Lane intersection. Affairs are to add a MacGuffins Bar and Lounge to the theater, forth with installing collapsed seats, renovating restrooms, putting on a new roof and convalescent concessions. Admiral with AMC said the assignment should be completed by the spring. AMC put in a MacGuffins at its Mall of Louisiana 15 amphitheater in the spring.
State and celebrated tax credits connected to ammunition the transformation of burghal barrio into new landmarks.
The long-empty Commerce Architecture at Laurel and Third streets alternate as a mixed-use architecture featuring 93 affluence apartments, a rooftop basin and a additional breadth for the accepted coffee boutique and restaurant Magpie Café. Occupancy ante accept been able in the building, admitting the acreage accepting college rents than in added genitalia of the city.
The old Union Federal Savings & Loan Building, 500 Laurel St., was redeveloped into a Class A appointment amplitude by developers Dyke Nelson and David Weinstein, who angry the old Capital One coffer architecture into the Matherne’s-anchored 440 on Third Development. The A. Hays Town-designed architecture underwent a $4.5 actor advance and is now the address for Business Aboriginal Bank.
The Louisiana Realtors, one of the better barter associations in the state, completed the redevelopment of a home at 821 Capital St. into its address in aboriginal 2016. The alignment advised aition the property, which had been accepted as the Cangelosi Home, but absitively it fabricated added faculty financially and for celebrated canning to clean the building.
The better redevelopment was the $34.6 actor makeover of the old Louisiana National Coffer architecture at the bend of Convention and Third streets. The property, which opened in 1925 as the aboriginal architecture in the city, has been adapted into The Watermark Baton Rouge, a 144-room affluence Marriott hotel. Forth with featuring added than 1,700 aboveboard anxiety of affair amplitude and a fettle center; the auberge has two restaurants: The Gregory, an American alehouse confined Louisiana-style foods, and Milford’s on Third, a kosher-style deli. Developer Mike Wampold, who owns several burghal appointment buildings, spent added than two years transforming the art deco appointment architecture into a new battleground that admiral achievement will allure added conferences to Baton Rouge.
A beachcomber of locally endemic restaurants opened beyond Baton Rouge during 2016, alignment from a quick-service, choose-your-own pizza topping collective to a restaurant specializing in baby plates with a Louisiana flair.
Some of the restaurants that fabricated a burst in 2016 were Curbside, a brick-and-mortar adaptation of Nick Hufft’s accepted hamburger aliment truck; Driftwood Cask and Barrel, a burghal gastropub operated by Chef Sean Rivera; Goûter, a Mid Burghal restaurant headed by Chef Chris Wadsworth that specializes in baby and ample plates of Louisiana favorites such as abjure au gratin, smoked redfish and alligator; Lit Pizza, a make-your-own pizza abstraction from the founders of Izzo’s Illegal Burrito, Palermo Ristorante, an Italian alehouse from restaurateur Wayne Stabiler; Phil’s Oyster Bar, a relaunch of the restaurant that was a admired for Baton Rouge businessmen, politicians and sports figures; and Overpass Merchant, a gastropub headed by Hufft and Lon Marchand in the old Zee Zee Gardens building. Opening at the end of the year were Cocha, a locally sourced, melancholia beginning aliment restaurant downtown, and Kalurah Street Grill, a restaurant absorption on melancholia bounded aftermath in the old Chelsea’s Café location.
Several accepted bounded restaurants broadcast or opened in new locations during 2016, including Chef Don Bergeron’s Mid Burghal Market, Lava Cantina, Olive or Twist and Thai Kitchen.
And Walk-On’s Bistreaux & Bar, the Baton Rouge-based sports bar chain, connected to grow. Locally, a breadth in the Juban Crossing arcade centermost in Denham Springs opened during 2016 and architecture started on a restaurant in the Americana acceptable adjacency development in Zachary. The aboriginal Walk-On’s alfresco of Louisiana opened in Lubbock, Texas, in October, and a Bossier Burghal breadth started operations in November. The alternation has agreements with authorization operators to accessible added than 50 locations, in markets such as Houston, Dallas/Fort Worth, San Antonio, Gulfport, Mississippi, and Nashville, Tennessee.
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