Monroe area named "Small Market of the Year" by Biz Mag.

By Greg Hilburn • ghilburn@thenewsstar.com • July 7, 2010

Monroe's Metropolitan Statistical Area, which includes all of Ouachita and Union parishes, has been named Southern Business & Development magazine's Small Market of the Year for Economic Development, while Louisiana shared top honors with Tennessee among 16 Southern states.

The magazine called Monroe and northeastern Louisiana's economic development victories in 2009 "one of the best small market performances of all time. The point total (60) is the second-best in the 17-year history of the Small Market division," according to the magazine.

Points are based on job-creating projects like Foster Farm's resuscitation of the chicken processing plant in Union Parish, the tenuous V-Vehicle Co. auto plant in Ouachita Parish that still depends on approval of $320 million in federal loans and ConAgra's sweet potato processing plant in Richland Parish.

Southern Business & Development, an economic development industry journal, also named Foster Farms as the Agribusiness Deal of the Year and the ConAgra Foods Lamb Weston plant the Food Processing Deal of the year among 16 Southern states.

Bob Eisenstadt, director of the ULM Center for Business and Economic Research, said 2009 set the market on a path to growth but emphasized that much of the growth depends on V-Vehicle's fate.  The ULM economist forecast 4.8 percent job growth during the next five years if V-Vehicle materializes, but only 2.1 percent without it.

Louisiana Economic Development Secretary Stephen Moret promised more such projects to come.

"This recognition shows that Northeast Louisiana can compete with any region in the U.S. - and win," Moret said. "Now Monroe and Northeast Louisiana have an opportunity to build on this exciting momentum. This is just the beginning.

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This type of GOOD NEWS is the reason the real estate market in our area is stable. Monroe, West Monroe, Sterlington and Calhoun provide value and investment stability for people who are moving here, something many people did not experience in the regions they left.

Considering a move to Monroe? I'll be happy to share more info with you. We LOVE new neighbors!