Tags: US State Facts | industries | louisiana | economy

Top 5 Industries in Louisiana: Which Parts of the Economy Are Strongest?

By    |   Wednesday, 08 Apr 2015 04:00 PM

Louisiana is strategically located, making the state a prime environment for natural resource production and agriculture. Oil, natural gas, commercial fishing, chemicals, and agriculture are five industries that are a vital part of the state’s economy.

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1. The largest concentration of crude oil refineries in the United States is located in Louisiana. The state is the third-largest producer of petroleum in the country.

Oil was first discovered in Louisiana in September 1901. By the end of 2013, the state had moved ahead of Texas in terms of refineries and was home to 19 operational refineries. The refineries were outproducing Texas, churning out 1.45 million barrels per day.

2. Natural gas is another top industry in Louisiana. One quarter of the total production of gas in the U.S. comes from Louisiana.

The first gas pipeline was laid in Louisiana in 1908. According to a Louisiana State economist, more than 112,000 miles of pipeline are now located in the state.

3. Commercial fishing in Louisiana provides seafood for much of the U.S. Louisiana accounts for 25 percent of the seafood consumed in the U.S. The state also holds a record of 1.9 billion pounds taken in in one year, making it the greatest catch ever recorded.

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In 2012, revenues from commercial fishing ranked fourth in the U.S., coming in at $331 million.

4. More than $14 billion in chemical shipments come from Louisiana each year, which accounts for 25 percent of the nation’s petrochemicals.

The Louisiana Weekly reports that chemical industries are expanding and new plants are being built in the state as a result of lower oil and gas prices. The Mississippi River's infrastructure also draws in additional companies. Wages at chemical facilities are robust, with the average worker making $57,000 a year.

5. Agriculture plays a critical part in the financial makeup of Louisiana. The state is second in the nation for its production of sugarcane and sweet potatoes.

The Louisiana Agriculture Center calls agriculture the backbone of the state. In 2013, producers had a record year of crops, with high yields for feed grains and soybeans.

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Louisiana is strategically located, making the state a prime environment for natural resource production and agriculture. Oil, natural gas, commercial fishing, chemicals, and agriculture are five industries that are a vital part of the state's economy.
industries, louisiana, economy
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2015-00-08
Wednesday, 08 Apr 2015 04:00 PM
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