This week the Greater Baton Rouge Business Report released its 2016 Baton Rouge Business Resource Guide and Market Factbook. The 48-page comprehensive guide is an invaluable resource for anyone that has a stake in the Capital Region economy.
A mandatory read for site selectors, those who own a business, and those who are thinking of starting one, the guide includes:
- In-depth market analysis including projections
- Key demographics on all nine Parishes
- A detailed Business Resource Guide providing step-by-step instructions for starting a company in Louisiana
We were particularly drawn to the portion of the guide that discusses upcoming commercial real estate projects, developments and issues that have the potential to drastically affect the Baton Rouge CRE market…good and bad. While you can view and download the full guide here, below we pull excerpts on the Capital Region’s projects and issues to watch. Make sure to read the full report in the guide.
The Capital Region’s health care sector is in a state of flux and in the months to come there will be still more changes.
The Petrochemical Sector
So far, Baton Rouge has been spared the pain that nearby cities more heavily invested in upstream operations and the service sector have felt. Still, several of the major industrial expansion projects planned for petrochemical plants in the nine-parish Capital Region have been shelved, or at least delayed until prices again pick up.
The Water Campus is expected to be a catalyst for economic development in the area, attracting world-class researchers and engineers. It will also add thousands of feet of new office space to the downtown market.
One of the city’s older neighborhoods is becoming one of its hottest growth areas at the moment.
One of the city’s premier retail properties has a new owner, or more precisely, a new partial owner…the resolution to the legal dispute will enable them to make improvements to the property that have been on the drawing board for some time.
Developer Tommy Spinosa’s traditional neighborhood development in Southdowns is thriving on the residential side….But the project’s commercial portion, the Village Center, has stalled after planned anchor tenant Alamo Drafthouse canceled its lease agreement earlier this year.
North Baton Rouge
The long-neglected northern part of the parish is suddenly getting a lot of attention, due—in no small measure—to the fact that 2016 is an election year. But regardless of the motivations of community leaders and mayoral candidates, the focus on the area is both overdue and badly needed.
When the Downtown Development District legally expanded its boundaries two years ago, it called the new portion of downtown—that area east of Interstate 110 to 22nd Street— Downtown East. The name couldn’t have come at a better time. In recent months redevelopment activity in Downtown East has mushroomed.
There is no doubt that after reading this guide you will feel your decision to relocate to the Baton Rouge area is a smart one. Seeing unbelievable economic development over the past few years, the Capital Region is on track for continued expansion. You can read more about Baton Rouge’s economic strength in our past posts here and here. So if you plan to relocate, or expand, your business see why buying or leasing commercial real estate in Baton Rouge is a safe and smart investment. Contact one of our team members today for help getting started.