Governor Jeff Landry is leaving for South Korea on Monday to promote investment in Louisiana.
The governor’s office did not release details of the visit until Monday, but officials said Louisiana Economic Development Secretary Susan Bourgeois will be among those accompanying him.
Landry took office in January, pledging to be a strong advocate for Louisiana as an investment destination. This will be his first overseas trip to promote investment in the state.
During his candidacy, Landry criticized past efforts to promote economic development and trade, particularly the parochial approach taken by state agencies.
In June, he created the Louisiana Economic Development Partnership, a private sector-led board tasked with developing the state’s strategic plan and coordinating the myriad local economic development agencies. The 12-member commission, which includes supermarket boss Donnie Rouse and oil executive Leah Brown, aims to find ways to break through entrenched bureaucracy and funnel investment money and services to companies. is also aimed at.
Landry also announced in August that a powerful new state committee, chaired by Mark Hebert, will be tasked with developing a comprehensive state port strategy that ends parochial infighting over limited resources. Established an agency, the Louisiana Ports and Waterways Investment Board.
On Thursday, the Port of New Orleans named Beth Ann Branch as its new CEO. The branch was adopted from rival Port of Mobile on the Gulf Coast, which has significantly outpaced New Orleans in terms of volume growth in containerized cargo, the most important category of ocean-going trade, over the past decade. .
As with other state commissions, Mr. Landry broke with tradition and ensured a personal selection for the chairmanship of the Port of New Orleans Commission. Last month, he appointed Mark Thomas, personal attorney for Landry’s donor and close friend, businessman Shane Guidry.
The governor’s trip will disrupt his efforts to sell a complex proposal to rewrite Louisiana’s tax code to state lawmakers and key constituent groups during a special session scheduled for Nov. 6.
Landry says his tax policy will make Louisiana more attractive to residents and investors.
The bill would reduce the top tax rate for individuals and corporations, establish a flat tax rate, raise the basic deduction for individuals, and abolish the corporate franchise tax.
Landry repeals dozens of sales tax exemptions, renews expiring 0.45 cent sales tax, extends sales tax to 40 activities currently exempt, and provides movie tax breaks to taxpayers The plan is to offset the resulting loss in revenue by eliminating several employment incentive programs, including: According to independent analysts, spending is only about 20 cents on the dollar.
Lawmakers have broadly praised the plan, but local sheriffs, school boards, police juries and parish governments are worried it will leave them with less money to spend on schools, jails, police and other services. There are concerns that this is not the case.
Landry and Revenue Secretary Richard Nelson presented the plan to parish presidents on Friday. The governor must receive support from at least two-thirds of the House and Senate for each revenue-raising measure.
New Orleans Mayor LaToya Cantrell flew to South Korea for the Climate Expo last year, a trip that sparked controversy after she upgraded to a first-class seat.
