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B.R. ranked No. 2 among U.S. mid-size metros for 2013 business expansions

Baton Rouge and Louisiana have each received a top three ranking in the nation for the high number of business expansions announced on the metro and state level in 2013. In its annual economic development rankings, trade publication Site Selection magazine places Baton Rouge tied for second among all U.S. metros with a population between 200,000 and 1 million for the number of new major projects or expansions announced last year.

Baton Rouge's 46 projects tied it with the Allentown, Pa.-Bethlehem, Pa. metro area, and placed it just two projects behind the No. 1 metro area on the list: Omaha, Neb.-Council Bluffs, Iowa. This year marks the fourth in a row that Baton Rouge has ranked in the top 10 on the list. Last year, the 34 new or expanded projects in the Baton Rouge area was good enough for a No. 4 ranking nationwide.

"Being included on this list four years in a row is a testament to the strength of our region and the momentum underway," says BRAC President and CEO Adam Knapp in a press release.

Site Selection counts projects in its ranking only if they include a capital investment of at least $1 million, create at least 50 jobs, or add at least 20,000 square feet of floor space. Retail, government projects, schools and hospitals are not counted. BRAC says it worked with 15 companies last year that ultimately announced expansions or relocations in the region.

"These projects will result in the creation of over 2,167 new jobs, $112 million in new payroll, and $4.4 billion in capital investment," reads the release from BRAC, which notes the payroll and capital investment figures are both local records.

Site Selection also ranks Louisiana No. 3 among all states for the number of projects it announced last year, per capita. The 180 projects per capita recorded in Louisiana trailed only Ohio and Nebraska. Texas, meanwhile, was awarded the magazine's Governor's Cup for total business developments and expansions in 2013.

Capital Region home sales up 3.6% in November

Home sales in the eight-parish Capital Region were up 3.6% in November compared to the same month last year, according to the latest monthly sales report from the Greater Baton Rouge Association of Realtors, released today. While the entire region tallied 20 more homes sold during November—for a total of 577—East Baton Rouge Parish recorded 52 fewer sales, or a decline of 15.2%. A total of 291 homes were sold in the parish last month. Livingston and Ascension parishes performed much better. The 119 sales recorded in Livingston represents a 38% increase over the 86 sold last November. In Ascension, sales in November totaled 108, a rise of 42% over the 76 sold during the month last year. Meanwhile, the average sales price in the Capital Region declined 3.7% in November to $197,848—down from $205,357 in November a year ago. The number of homes for sale in the eight-parish region dipped 5.2% on the month to 4,103; while pending sales rose 21% to 654. The months supply figure, or the number of months it would take to sell all of the homes for sale at the current sales pace, declined 15% to 5.7 months. Realtors generally view any reading under 6 months as reflective of a seller's market. Last November the months supply was 6.7.