Study Proves the Energy Sector is Still a Giant Economic Engine for Louisiana’s Economy

Noted economist Dr. Loren C. Scott’s latest study, The Energy Sector: Still A Giant Economic Engine for the Louisiana Economy,” reinforces what hundreds of thousands of Louisianians already know: the oil and natural gas industry continues to be the foundation of the state’s economy.

With more than 260,000 employees across the state and an average annual wage of more than $96,500 – almost double the state’s average wage – and a contribution of more than $2 billion in annual state taxes, it is clear that the energy industry is critical to Louisiana’s employment, state budget and economic success.

Marc Ehrhardt, Executive Director of Grow Louisiana Coalition

“In the face of an unpredictable tax system, countless misguided legal attacks and an industry downturn, this study proves the oil and natural gas industry’s continued dedication to the state of Louisiana.

With all of the cards stacked against the industry, it continues to provide billions in tax revenues and hundreds of thousands of jobs for our state. We cannot take this for granted. For our state’s future, we must make sure that Louisiana is on the top of the list for companies looking to invest this by stopping reckless lawsuits and partnering with the industry.”