Urges and requests the La. Dept. of Economic Development to continue its endeavors to foster international commerce, including the assertive attraction of foreign direct investment
Impact
The resolution's encouragement for continued foreign investment aligns with Louisiana's historical role in this sector since 2008, where the introduction of new investment has led to significant capital announcements and job creations. Notably, the state has doubled its historic cumulative foreign direct investment to over sixty billion dollars, resulting in support for approximately fifty-seven thousand jobs. The growth trajectory indicates a robust framework for future economic developments driven by international business interactions.
Summary
House Resolution 225 urges the Louisiana Department of Economic Development to maintain its efforts to promote international commerce and attract foreign direct investment. This resolution reflects the state's commitment to enhancing its economic landscape through collaboration with local economic development organizations and leveraging geographic advantages. The approval of a Master Plan for International Commerce aims to generate thousands of new jobs in the coming years from increased trade activity and investment from international entities.
Sentiment
Overall, sentiment around HR225 appears positive, as it seeks to amplify Louisiana's standing in the global market while ensuring alignment with federal guidelines on foreign investment. The resolution expresses a proactive approach towards economic growth and diversification through international collaboration, which resonates well with proponents of economic expansion. However, while the sentiment is largely supportive, concerns may arise regarding the potential impacts on local businesses and market competition.
Contention
There could be contention surrounding the extent of foreign investment dependence and the adaptability of local industries to global standards. Some may argue that an increased focus on international commerce could overshadow local businesses, leading to apprehensions over local economic stability. Encouraging foreign entities to engage with the state may also bring forth debates about compliance with existing state and federal regulations, and how these might influence local economies.
Urges and requests the Louisiana Department of Economic Development, in consultation with the Louisiana Workforce Commission, to evaluate the state's readiness for attracting offshore wind energy supply chain industries to the state
Requests the Department of Economic Development to study and report on commercial activities by state-owned companies or organizations in and subsidized by certain foreign governments and requests the state treasurer to certify that no public funds are used to support commercial activities in foreign governments
Requests the Senate Committee on Commerce, Consumer Protection and International Affairs to study the feasibility of attracting an existing Major League Soccer franchise or expansion team to locate in Louisiana.
Urges and requests Secretary of the Interior, Ken Salazar, to reconsider the directive that he issued which instituted six-month moratorium on oil and gas exploration in the Gulf of Mexico and to possibly alter that directive to minimize the negative economic impact of such directive on the already damaged economies of the state of Louisiana and the other oil and gas producing states along the Gulf of Mexico.
Requests that the Bd. of Regents and the State Bd. of Elementary and Secondary Education, with the Taylor Foundation, La. Office of Student Financial Assistance, public postsecondary education management boards, and certain others, study certain issues relative to TOPS
Requests the Louisiana Workforce Commission and the Louisiana Department of Veterans Affairs to study employment practices and professional licensing requirements to benefit veterans in the workforce
Creates a task force to study meaningful oversight of the professional healthcare licensing boards statutorily created within the Department of Health and Hospitals.