Emotions Flare About War: ED Impacts in Louisiana

Is the war having an impact on economic development? Yes, on many levels. Probably one of the most dramatic illustrations of this point is in Louisiana, which has historically built upon its French cultural ties to promote trade and reverse investment activities with French businesses.

French businessmen who were considering bringing jobs to Louisiana have canceled a trade mission because of recent French bashing by Louisiana politicians, an economic development official says. The French business delegation was scheduled to visit the state in April, but a decision to cancel was made by the French as a direct result of comments by Louisiana Gov. Foster and other politicians who have said French President Jacques Chirac would not be welcome in Louisiana because of his opposition to the U.S.-led war with Iraq.

A scientific exchange meeting between Louisiana and French cancer research specialists scheduled for July in Lyon, France, also has been put on hold and probably will be canceled. 10 French corporations have recently expressed some interest in locating in Louisiana.

What exactly is at stake here? French companies hold $1.8 billion in business assets and employ 10,000 people in Louisiana, and 75,000 French tourists visit Louisiana annually. The value of U.S. exports that move through the Port of New Orleans to France each year is $277 million. The trade value of exports to France from Louisiana in 2001 was $74 million.

In more than one way, there are economic consequences to pay for the Iraqi War.

Go read more about the Louisiana situation.