U.K. Investments Play Key Role in Louisiana’s FDI Leadership
U.K. companies are multigenerational investors in Louisiana, with more than 30 projects since 2003, accounting for over $1.61 billion in capital expenditures and 2,200 Louisiana jobs. U.K. investment undergirds Louisiana’s track record as the No. 1 performer in per capita FDI, for states of 1 million or more people.
Notable Investments
- Hunting Energy Services – Subsidiary of U.K. company Hunting PLC, $62 million industrial expansion
- British Petroleum (BP) – Oil & Gas exploration & production, supporting more than 3,500 Louisiana jobs.
- Blade Dynamics – Wind turbine manufacturing facility, representing $146.10 million in capital investment
- Drax Biomass – In December 2012, Drax Biomass announced plans to build a $120 million wood pellet facility in Bastrop, Louisiana and a storage-and-shipping facility at the Port of Greater Baton Rouge. Drax now ships wood pellets formed in Morehouse Parish to its U.K. energy facilities for use in generating renewable power. The project created 63 direct jobs and an estimated 143 new indirect jobs. Drax Biomass also generated 250 construction jobs at the peak of the yearlong building phase.
Trade Between the U.K. and Louisiana
| Exports to the U.K. | |
|---|---|
| Petroleum & Coal Products | $577.9 million |
| Chemicals | $185.4 million |
| Machinery | $27.6 million |
| Other | $129.8 million |
| TOTAL | $920.7 MILLION |
| Imports from the U.K. | |
|---|---|
| Oil & Gas | $323.7 million |
| Petroleum & Coal Products | $103.6 million |
| Chemicals | $90.6 million |
| Other | $260.9 million |
| TOTAL | $778.8 MILLION |
Louisiana Representation in the U.K.
In September 2017, the State of Louisiana in coordination with the Committee of 100 led an economic development mission to the U.K. to meet with existing investor company officials and potential prospect companies, centered on the presence of the New Orleans Saints (NFL) game hosted in London versus the Miami Dolphins.
Air Travel
On March 27, 2017, British Airways (BA) began service between New Orleans and London Heathrow. Securing direct airline service between Louisiana and Europe had been a long-term objective of the economic development, tourism, aviation and political communities for many years. LED worked alongside the city of New Orleans, Jefferson & Orleans Parishes, Greater New Orleans Regional Economic Development, and the Convention and Visitors Bureau to guarantee this opportunity.
Cultural Ties and Resources
University of Louisiana at Lafayette and University of New Orleans both offer study abroad programs in London. Additionally, Louisiana State University offers international exchange programs and academic abroad programs with over 20 universities in various cities in the United Kingdom.