greater baton rouge real estate trends report q1 2012 by louisiana realtors

8/2/2019 Greater Baton Rouge Real Estate Trends Report Q1 2012 by Louisiana REALTORS

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IN THIS ISSUE...

Nonfarm Employment Sets All-Time Record in March

Louisiana Reaches Highest Mark Ever in CEO Survey

Economic Development Projects Update

Positive Opinions on Current Economic Conditions

LRs Quarterly Report on the Real Estate Market May 2012 (1st Quarter 2012)

First Quarter 2012 Overview

Louisiana Home Sales Jump 17% to Start the Year, Lafayette & Houma Lead StateThe number of home sales throughout Louisiana in the

first quarter of 2012 were up sharply from a year ago, with

residential sales up 17.2 percent compared to the sameperiod in 2011 and total sales volume increasing 15.3percent. The average sales price dropped 1.6 percent from

the first quarter of last year to $171,684. The average listedhome stayed on the market for 113 days, compared to 111days last year.

Were getting clear evidence now that buyers are takingadvantage of the record affordability conditions, said LRpresident Rick Roberts of Avalar Realty in Mandeville. Wehave been hearing from REALTORS that they are gettingbusier, and that the number of showings were up to start the

year. Its great to see that translating into bold, positivemoves for our housing market.All eight of Louisianas major metropolitan statistical

areas (MSAs) showed a significant increase in home sales forthe quarter, with the Lafayette and Houma-Thibodauxmarkets registering more than a 26 percent increase in thenumber of homes sold. The average home in Lafayette sold

for $157,054, which reflects a 6.4 percent drop comparedto the first quarter of 2011. Homes in the Houma-Thibodaux market sold for an average of $157,292, down2 percent from last year.

Louisiana 1Q 2012 v. 2011 At a Glance

Sales information sorted by individual metropolitan areas is provided on pages 4 through 7 of the report. Specific numbers in a table format are on pages 6 and 7 ofthe report. Residential sales statistics in the report are for the period of January 2011 through March 2012 and provided by the following sources: Bayou Board ofREALTORS, Greater Baton Rouge Association of REALTORS, Central Louisiana Association of REALTORS, Gulf States Real Estate Informat ion Network,Northeast Louisiana Association of REALTORS, Northwest Louisiana Association of REALTORS, REALTOR Association of Acadiana, Southwest LouisianaAssociation of REALTORS.

AVERAGE SALE PRICENUMBER OF HOUSES SOLD

(continued on page 7)

The first quarter numbers show the clear correlationbetween the housing and job markets, said Roberts. Salesactivity is strongest in those regions where employment isup, namely Lafayette and the Bayou region.

The unemployment rate in the Houma MSA was thelowest in the state at 5.1 percent, down from 5.9 percent ayear ago, followed closely by Lafayette at 5.2 percent, down

from 6.2 percent in the first quarter of 2011. The statewideunemployment rate for first quarter 2012 stood at 7.2percent. Total employment in the Lafayette area increasednearly 6 percent, and increased 4 percent in Houma.Statewide, total employment for the quarter ticked up 0.2percent.

The Greater Baton Rouge area continued its strongupward sales trend with a 17.5 percent increase in homessold for the quarter. Total sales volume in Baton Rouge wasup 16.2 percent, and the areas average sales price of$190,499 was the highest in the state and down only 1.1percent from the same period last year. Meanwhile, LakeCharles area sales were up 17.2 percent, with total sales

volume jumping nearly 30 percent. The average home insouthwest Louisiana sold for $148,903, up over 10 percent

from last year, the highest percentage increase in the statefor the quarter.


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2

Louisiana Labor Market

Louisiana Non-Farm Employment Sets All-Time Record in MarchThe Louisiana Workforce Commission reported that

Louisianas seasonally-adjusted nonfarm employmentreached the highest mark in the states history in March at1,952,100.

A survey of employers by the federal Bureau of LaborStatistics estimates Louisianas nonfarm employment

increased in March by 44,000 jobs from a year ago, andincreased by 2,100 jobs from the previous month.

According to the BLS data, Louisiana has now experienced22 straight months of nonfarm jobs gains, with the March

total surpassing the total before Hurricane Katrina, theprevious high point.

Louisianas seasonally-adjusted unemployment rate was7.1 percent in March, an increase of 0.1 percent fromFebruary, but lower than the year-ago rate of 7.5 percent.The states seasonally-adjusted rate was the 22nd lowest in

the nation and the sixth lowest in the South Region. The

rate for the South Region was 7.8 percent. The nationalunadjusted rate dropped to 8.4 percent.The seasonally unadjusted unemployment rate for five

metropolitan statistical areas (MSAs) in Louisiana improved,

one had no change, and two MSAs had small increases overthe month. All but one - Shreveport - also posted over-the-year improvements.

March unemployment rates for the eight MSAs are:Alexandria, 7.0 percent (down 0.1 percent over the year);Baton Rouge, 7.0 percent (down 0.3 percent); Houma, 4.9

percent (down 0.1 percent); Lafayette, 5.0 percent (down0.8 percent); Lake Charles, 6.7 percent (down 0.1percent); Monroe, 7.6 percent (down 0.1 percent); NewOrleans, 7.0 percent (down 0.1 percent); Shreveport, 6.8percent (up 0.2 percent).

BLS data shows that regionally, the Lafayette MSA hadthe largest job growth among metro areas with an increaseof 14,100 seasonally unadjusted nonfarm jobs over the past12 months. This was followed by over-the-year increases inNew Orleans (7,100 jobs), Houma (5,700 jobs), Monroe(1,100 jobs), Baton Rouge (1,000 jobs), and Shreveport

(300 jobs). Two metro areas experienced declines in March- Alexandria saw a decline of 1,400 jobs, while Lake Charleslost 900 jobs compared to a year ago. LouisianaWorkforce Commission

Economic Development

Louisiana Reaches Highest Rank Ever in CEO SurveyChief Executive magazine recently announced that CEOs

nationwide rank Louisiana as the most improved state forbusiness in the U.S., according to the magazine's 2012 Best/

Worst States for Business ranking. Louisiana's ranking soaredfrom 27th in 2011 to 13th this year, the largest improvementof any state. Since 2008, Louisiana has improved 32 spots, also

the largest gain by any state.Chief Executive asked CEOs to grade states on such areas

as taxes, regulatory environment, workforce quality and livingenvironment. In Louisiana, Chief Executive cited business-

friendly improvements, which include a more competitivecorporate tax structure and turnkey workforce programs, and

the magazine cited recent education and pension reformefforts as positive development trend indicators.

CEOs noted both the improved policy and regulatory

environment in Louisiana, along with the improved economicperformance, according to Chief Executive Editor-in-Chief J.P.Donlon, who writes, "Although often eclipsed by Texas, itsnext door neighbor, Louisiana is the Cinderella of businessimprovement." The Chief Executive editor summed upLouisiana's resurgence by quoting one company chairman whocompleted the survey: "In Louisiana, there is an activegovernment push to reduce taxes and regulation and toencourage new industry to relocate to the state. This was

valuable for one of our companies, which decided to make thestate our headquarters." The magazine cited other CEOs whocredited Louisiana for making big strides in workforce training

and economic incentives.Louisiana's status as the most improved state for business

in Chief Executive follows a series of ranking gains that havevaulted the state to its highest placement ever in nearly everymeasure of state business climates: Site Selection magazine ranked Louisiana's business climateNo. 7 in the U.S. in its November 2011 issue, Louisiana'shighest-ever ranking. Area Development magazine ranked Louisiana No. 6among the Top States for Doing Business in 2011, Louisiana'shighest-ever ranking. Business Facilities magazine named LED FastStart thenation's best state workforce training program in both 2010and 2011, and it described the Louisiana program as "the goldstandard for workforce training solutions."

Pollina Corporate Real Estate named Louisiana the most-improved state in the nation in its 2010 ranking of business-

friendly states. The report stated, "We have noticed anincrease in the number of companies that are considering amove to the state or want to have the state evaluated as apotential location." Southern Business & Development magazine namedLouisiana the 2011 State of the Year, the third consecutiveyear Louisiana has been honored as State/Co-State of the

Year. In 2011, Louisiana earned the highest project score percapita in the magazine's history.. Louisiana EconomicDevelopment


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Recent Economic Development News

Central Louisiana: Sutherland Global Services

Operations Center in Alexandria, Procter &

Gambles Pineville Expansion Complete

Sutherland Global Services announced in March that itwill open a 600-job BPO (Business Process Outsourcing)Operations Center in Alexandria. The 600 new jobs will payan average salary of $27,000, plus benefits, and the project

will create over 400 additional indirect jobs according toLouisiana Economic Development estimates. SutherlandGlobal plans to invest $2.9 million to remodel an existing40,000-square-foot facility. Construction began in March,hiring began in April, and the company is expected to startoperations in May. Gov. Bobby Jindal said, "We've made it apriority to revitalize old facilities that were once theeconomic engines of job creation. That's why when aprevious company shut down here a little over a year ago,

we immediately began working with local and regionalpartners to bring back a bigger, stronger, more technologically

proficient partner to bring more and better jobs to thisgrowing region.Earlier in March, the Procter & Gamble Company

announced the completion of a $100 million expansion at itsPineville fabric care facility. The expansion created 105 newdirect jobs, and LED estimates the project will result in 567new indirect jobs. The new jobs pay an average startingsalary of approximately $42,000 a year, including benefits.The total of 672 new jobs in the Central Louisiana region isin addition to nearly 400 existing P&G jobs that the companyretained with the expansion. P&G's capital investmentenabled the plant and the company to deliver a new product,

Tide Pods, their recently released laundry product. Tide Podsare a detergent, stain remover and brightener in a three-chamber unit dose form.

Greater Baton Rouge: Union Pacific Railroad

Expansion, Pixomondo Visual Effects Studio, SE

Tylose Plaquemine Plant

On February 14, Union Pacific Corp. announced a $200million capital investment that will expand the company'sSouth Louisiana operations, creating 225 new direct jobs,retaining 1,100 employees and creating 1,500 construction

jobs. The project also will result in 502 indirect jobs, LEDestimates, for a total of 727 new direct and indirect jobs.The direct jobs will pay an average of $45,000 a year, plusbenefits. Union Pacific is investing in this expansion to meetcurrent customer demand from the petrochemical plantsalong the Mississippi River, and expects to have it completedby the end of 2012. The expansion consists of three majorprojects: a new support yard in St. James Parish; an additional29 miles of track from Livonia to Addis, providing dual lines

for greater capacity; and the addition of more staging slots inLivonia. At its construction peak in June, the expansion isexpected to create 1,500 construction jobs.

Pixomondo LLC announced in late February the creationof a new visual effects studio in Baton Rouge that will create75 new direct jobs in film, TV and commercial production

work. The company's work won an Oscar at Sunday's 84thAnnual Academy Awards for visual effects, or VFX, in Hugo.Pixomondo will occupy more than 6,000 square feet atCeltic Media Centre and make an initial capital investment of

$1.2 million. Opening in May, the Pixomondo Baton Rougestudio will be the German company's 12th internationallocation. Annual salaries will average more than $65,000,plus benefits, and Pixomondo will hire 50 people in its firstyear, expanding to 75 by the end of its second year. Theproject will result in the creation of 49 indirect jobs,Louisiana Economic Development estimates, for a total ofmore than 120 jobs.

On April 30, representatives of Shintech Inc. announcedthat its sister company SE Tylose will invest $120 million tobuild a hydroxyethyl cellulose, or HEC, plant at Shintech

Louisiana's Plaquemine site. SE Tylose will produce HECchiefly for latex paints to create water-soluble coatings, toadjust viscosity, to improve adhesiveness and to preventsedimentation of the colorants. The Iberville Parish project

will create 30 new direct jobs with an average annual salaryof $58,000, plus benefits, while helping to retain 270Shintech jobs. Louisiana Economic Development estimates

the project also will result in 292 new indirect jobs for the

Capital Region and surrounding areas of Louisiana.

Bayou Region: Oceaneering International Morgan

City Expansion, New K&B Machine Facility

On April 9, Oceaneering International Inc. announcedthe 30,000-square-foot expansion of the company's MorganCity facilities, a $5 million capital investment that will suppor

the creation of 200 new direct jobs and the retention of1,700 existing jobs. The 200 new jobs which will average$60,000 a year, plus benefits will result in another 407indirect jobs, Louisiana Economic Development estimates.Fully 120 of the new employees will be trained forproduction and performance of the company's core product:remotely operated vehicles, or ROVs, that perform technica

tasks and inspections at up to two miles below the surface of

the sea. Another 80 new employees will provide broadsupport for Oceaneering in St. Mary Parish, whereoperations also include diving, rigging, inspection, inventory,administration and other units. Hiring has begun and willcontinue through 2012. The manufacturing expansion,

which joins an existing building of approximately 100,000square feet, will be completed in November. Altogether,Oceaneering will operate more than 200,000 square feet of

facilities in Morgan City upon completion of the currentexpansion.

(continued on page 8)


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Source: New Orleans Metropolitan Association of REALTORS

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NUMBER OF HOUSES SOLD

AVERAGE SALE PRICE

Greater New Orleans/Northshore Area

Source: Greater Baton Rouge Association of REALTORS


TOTAL SALES VOLUME

AVERAGE SALE PRICE

Greater Baton Rouge Area

Source: Northwest Louisiana Association of REALTORS


AVERAGE SALE PRICE

Shreveport-Bossier/Northwest Louisiana

Source: REALTOR Association of Acadiana


TOTAL SALES VOLUME

AVERAGE SALE PRICE

Lafayette/Acadiana Area

TOTAL SALES VOLUME

TOTAL SALES VOLUME


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Source: Central Louisiana Association of REALTORS


AVERAGE SALE PRICE

Alexandria-Pineville/Central Louisiana

Source: Southwest Louisiana Association of REALTORS


TOTAL SALES VOLUME

AVERAGE SALE PRICE

Lake Charles/Southwest Louisiana

Source: Bayou Board of REALTORS


TOTAL SALES VOLUME

AVERAGE SALE PRICE

Houma-Thibodaux/Bayou Area

Source: Northeast Louisiana Association of REALTORS


TOTAL SALES VOLUME

AVERAGE SALE PRICE

Monroe/Northeast Louisiana

TOTAL SALES VOLUME


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% % YTD YTD %

Metro Areas/Indicators Units 1Q12 4Q11 Change 1Q11 Change 2012 2011 Change

New Orleans

Number of Houses Sold (a) No. 2,142 2,175 -1.5% 1,853 15.6% 2,142 1,853 15.6%

Total Sales Volume (a) $000 394,897.0 403,058.7 -2.0% 348,081.0 13.4% 394,897.0 348,081.0 13.4%

Average Sales Price (a) $ 184,359 185,314 -0.5% 187,847 -1.9% 184,359 187,847 -1.9%

Average DOM # 102 97 5.9% 101 1.3% 102 101 1.3%Total Employment (i) No. 497,236 503,818 -1.3% 496,402 0.2% 497,236 496,402 0.2%

Number Unemployed (i) No. 38,109 36,239 5.2% 40,376 -5.6% 38,109 40,376 -5.6%

Labor Force (i) No. 535,345 540,057 -0.9% 536,778 -0.3% 535,345 536,778 -0.3%

Unemployment Rate (i) * 7.1% 6.7% 7.5% 7.1% 7.5%

Greater Baton Rouge

Number of Houses Sold (b) No. 1,448 1,359 6.5% 1,232 17.5% 1,448 1,232 17.5%

Total Sales Volume (b) $000 275,842.1 257,602.6 7.1% 237,356.5 16.2% 275,842.1 237,356.5 16.2%

Average Sales Price (b) $ 190,499 189,553 0.5% 192,659 -1.1% 190,499 192,659 -1.1%

Average DOM # 104 100 4.0% 103 1.6% 104 103 1.6%

Total Employment (i) No. 343,722 346,692 -0.9% 346,033 -0.7% 343,722 346,033 -0.7%

Number Unemployed (i) No. 26,724 25,024 6.8% 29,160 -8.4% 26,724 29,160 -8.4%Labor Force (i) No. 370,445 371,716 -0.3% 375,193 -1.3% 370,445 375,193 -1.3%


Northwest LA (Shreveport - Bossier)

Number of Houses Sold (c) No. 899 875 2.7% 775 16.0% 899 775 16.0%Total Sales Volume (c) $000 144,507.1 141,973.2 1.8% 126,780.1 14.0% 144,507.1 126,780.1 14.0%

Average Sales Price (c) $ 160,742 162,255 -0.9% 163,587 -1.7% 160,742 163,587 -1.7%

Average DOM # 73 76 -3.9% 73 -0.5% 73 73 -0.5%



Labor Force (i) No. 180,591 183,143 -1.4% 182,610 -1.1% 180,591 182,610 -1.1%Unemployment Rate (i) * 6.8% 6.3% 7.0% 6.8% 7.0%

Acadiana LA (Lafayette)

Number of Houses Sold (d) No. 808 791 2.1% 640 26.3% 808 640 26.3%

Total Sales Volume (d) $000 126,899.7 134,185.9 -5.4% 107,431.9 18.1% 126,899.7 107,431.9 18.1%

Average Sales Price (d) $ 157,054 169,641 -7.4% 167,862 -6.4% 157,054 167,862 -6.4%Average DOM # 116 113 2.6% 124 -5.9% 116 124 -5.9%

Total Employment (i) No. 133,993 131,130 2.2% 126,532 5.9% 133,993 126,532 5.9%


Labor Force (i) No. 141,392 138,057 2.4% 134,928 4.8% 141,392 134,928 4.8%


Bayou LA (Houma - Thibodaux)

Number of Houses Sold (e) No. 255 224 13.8% 202 26.2% 255 202 26.2%

Total Sales Volume (e) $000 40,109.4 36,950.0 8.6% 32,422.3 23.7% 40,109.4 32,422.3 23.7%

Average Sales Price (e) $ 157,292 164,956 -4.6% 160,507 -2.0% 157,292 160,507 -2.0%

Average DOM # 157 142 10.3% 158 -0.8% 157 158 -0.8%

Total Employment (i) No. 97,137 99,276 -2.2% 93,389 4.0% 97,137 93,389 4.0%Number Unemployed (i) No. 5,205 4,809 8.2% 5,908 -11.9% 5,205 5,908 -11.9%

Labor Force (i) No. 102,341 104,084 -1.7% 99,297 3.1% 102,341 99,297 3.1%


Southwest LA (Lake Charles)

Number of Houses Sold (f) No. 341 323 5.6% 291 17.2% 341 291 17.2%

Total Sales Volume (f) $000 50,776.0 46,440.4 9.3% 39,313.8 29.2% 50,776.0 39,313.8 29.2%

Average Sales Price (f) $ 148,903 143,778 3.6% 135,099 10.2% 148,903 135,099 10.2%

Average DOM # 112 107 4.4% 95 17.1% 112 95 17.1%

Total Employment (b) No. 84,482 87,474 -3.4% 85,811 -1.5% 84,482 85,811 -1.5%

Number Unemployed (b) No. 6,137 5,791 6.0% 6,707 -8.5% 6,137 6,707 -8.5%Labor Force (b) No. 90,619 93,264 -2.8% 92,519 -2.1% 90,619 92,519 -2.1%

Unemployment Rate (b) * 6.8% 6.2% 7.2% 6.8% 7.2%

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Quarterly Indicators at a Glance


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% % YTD YTD %

Metro Areas/Indicators Units 1Q12 4Q11 Change 1Q11 Change 2,012 2011 Change

Northeast LA (Monroe)

Number of Houses Sold (g) No. 431 408 5.6% 388 11.1% 431 388 11.1%

Total Sales Volume (g) $000 59,205.4 58,766.9 0.7% 57,316.4 3.3% 59,205.4 57,316.4 3.3%

Average Sales Price (g) $ 137,368 144,036.4 -4.6% 147,723 -7.0% 137,368 147,723 -7.0%Average DOM # 141 134 5.0% 125 12.8% 141 125 12.8%



Labor Force (i) No. 79,811 79,613 0.2% 80,252 -0.5% 79,811 80,252 -0.5%


Central LA (Alexandria - Pineville)

Number of Houses Sold (h) No. 275 263 4.6% 248 10.9% 275 248 10.9%

Total Sales Volume (h) $000 40,707.5 36,816.6 10.6% 33,912.4 20.0% 40707.5 33,912.4 20.0%

Average Sales Price (h) $ 148,027 139,987 5.7% 136,743 8.3% 148,027 136,743 8.3%

Average DOM # 96 99 -2.4% 106 -9.1% 96 106 -9.1%

Total Employment (i) No. 60,209 63,694 -5.5% 62,616 -3.8% 60,209 62,616 -3.8%Number Unemployed (i) No. 4,734 4,449 6.4% 5,025 -5.8% 4,734 5,025 -5.8%

Labor Force (i) No. 64,943 68,143 -4.7% 67,641 -4.0% 64,943 67,641 -4.0%


Louisiana

Number of Houses Sold No. 6,599 6,418 2.8% 5,629 17.2% 6,599 5,629 17.2%

Total Sales Volume $000 1,132,944.2 1,115,267.7 1.6% 982,614.4 15.3% 1,132,944.2 982,614.4 15.3%

Average Sales Price $ 171,684 173,772 -1.2% 174,563 -1.6% 171,684 174,563 -1.6%

Average DOM # 113 109 3.8% 111 1.9% 113 111 1.9%

Total Employment (i) No. 1,888,847 1,914,654 -1.3% 1,885,946 0.2% 1,888,847 1,885,946 0.2%

Number Unemployed (i) No. 146,699 137,542 6.7% 158,757 -7.6% 146,699 158,757 -7.6%Labor Force (i) No. 2,035,546 2,052,196 -0.8% 2,044,703 -0.4% 2,035,546 2,044,703 -0.4%


Notes: (1) Employment data for the State are the actual totals for the State. (2) Number of houses sold and the sales volume

recorded for the State are a total of the corresponding numbers for each metropolitan area.

Sources: (a) Gulf States Real Estate Information Network; (b) Greater Baton Rouge Association of REALTORS;

( c) Shreveport - Bossier, Northwest La. Association of REALTORS; (d) Lafayette, REALTORS Association of Acadiana;

(e) Houma - Thibodaux, Bayou Board of REALTORS; (f) Lake Charles, Southwest La. Association of REALTORS; (g) Monroe,

Northeast La. Association of REALTORS; (h) Alexandria - Pineville, Central La. Board of REALTORS; (i) La. Department of Labor

7

Quarterly Indicators at a Glance

1Q/2012 LOUISIANA MARKET OVERVIEW (continued from page 1)

Home sales in the Shreveport-Bossier area rose 16 percent compared to the first quarter last year, with an average salesprice of $160,742, down 1.7 percent. The average days on market in northwest Louisiana was the shortest in the state for

the quarter at 73 days. Greater New Orleans kept its 2011 momentum going with a 15.6 percent increase in sales, while

the average sold price dropped 1.9 percent to $184,359.The Alexandria-Pineville area showed a 10.9 percent increase in sales activity, and a 20 percent jump in total salesvolume on the strength of an average sales price ($148,027) that was over 8 percent higher than a year ago. Monroe areahome sales increased 11.1 percent from the first quarter last year. The average home in northeast Louisiana sold for$137,367, down 7 percent from a year ago.

Foreclosures and distressed property sales continue to impact the average sales price in Louisiana. According to data fromRealtyTrac, the average foreclosure sales price in Louisiana during the first quarter of 2012 was $103,626, approximately 40percent lower than the states overall average sales price of $171,684 for the same period. In March, Louisiana ranked 29th

in foreclosure rate, with 1 in every 1,217 properties receiving a foreclosure filing, compared to the national average of 1 inevery 662. RealtyTrac reports that 731 foreclosures were sold in the first quarter, compared to 6,599 total houses sold,accounting for about 11 percent of Louisiana home sales to start the year. LR


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Produced quarterly by Louisiana REALTORS and John C. Borland CCRCorrespondence should be addressed to:P.O. Box 14780, Baton Rouge, LA 70898

225-923-2210 800-266-8538www.LAREALTORS.org www.LAHOMEOWNERS.org

ECONOMIC DEVELOPMENT PROJECT ACTIVITY(continued from page 3)

Bayou Region (continued)

K & B Machine Works LLC announced a $40 million capital investment to create a 200,000-square-foot manufacturing and headquarters facility inTerrebonne Parish. The site, about 13 miles north of the company's current Houma complex, already is home to a 42,000-square-foot customerinventory building. Additionally, the project will create 80 construction jobs averaging $50,000 in annual pay for the roughly one-year construction term,

translating into a $4 million construction payroll. In working with the state, K&B agreed to retain 190 current jobs and to create 19 new jobs, resulting inanother 21 indirect jobs. But as construction begins on the new facility, K&B's growth has exceeded expectations. The company's employment hasgrown to 220 and K&B expects to employ 240 by the beginning of 2013. That's a net gain of 50 new jobs that will pay an average of $48,000 a year,plus benefits.

Greater New Orleans: GE Tech Center

GE in February announced the creation of a major new corporate office in New Orleans with 300 new direct jobs in information technology (IT)and software development. The GE Capital Technology Center will provide software development and IT support for the company's financial servicesbusiness. The project will produce 300 new IT jobs with salaries ranging from $60,000 to $100,000, plus benefits, that will support GE Capital'sgrowth. Louisiana Economic Development estimates that the 300 new GE Capital positions in New Orleans will result in approximately 301 newindirect jobs, for a total of more than 600 direct and indirect jobs. By the end of 2015 when the Technology Center is fully staffed, its total payroll willbe in excess of $28 million, excluding benefits.

Northwest Louisiana: Clement Industries ExpansionClement Industries, a north Louisiana manufacturer of industrial trailers, announced the company will expand its business by adding 25 jobs while

retaining 83 existing employees. Located on Interstate 20 between Sibley and Minden, the trailer manufacturer projects 20 percent sales growth in2012 beyond the 90 percent increase it experienced in 2011. Clement's goal is to cut its current six-month backlog in half by hiring additional weldersand welder trainees.

The Conference Board Consumer Confidence Index (CCI) forthe U.S. dipped slightly in March after an increase in February. ThePresent Situation Index, meanwhile, increased in March while theExpectations Index declined.

The moderate decline in March was due solely to a less favorableshort-term outlook, while consumers assessment of current conditions

continued to improve, said Lynn Franco, Director of The ConferenceBoard Consumer Research Center. The Present Situation Index nowstands at the highest level in three and a half years, suggesting thatdespite Marchs dip in confidence, consumers feel the economy is notlosing momentum. Consumers appraisal of current conditionsimproved in March. Those claiming business conditions are baddecreased. Consumers who believe jobs are plentiful increased while

those stating jobs are hard to get also rose.The Conference Boards Measure of CEO Confidence improved

in 1Q12 to 63 after improving in 4Q11 to 49. (A reading of more than50 points reflects more positive than negative responses) CEOconfidence has rebounded from rather dismal readings in the latter halfof 2011, said Franco. Looking ahead, chief executives are optimistic

about prospects, with about the same percentage as last year expectingto hire new workers. CEOs appraisal of current economic conditionshas grown very positive as two-thirds say conditions have improved

CEO & Consumer Confidence Indices

Positive Opinions from Consumers, CEOs on Current Economic Conditionscompared to six months ago. CEOs optimism about short-termoutlook also improved significantly. Expectations for their own industriesare also more upbeat.

NATIONAL ECONOMY

The Conference Board Leading Economic Index (LEI) for the U.S

rose 0.3% in March while the Coincident Economic Index improved0.2% and the Lagging Economic Index increased 0.3% in the sameperiod.

The LEI increased for the sixth consecutive month, pointing to amore positive outlook despite subdued consumer expectations and

weakness in manufacturing new orders, said Ataman Ozylidrim,economist at The Conference Board. The six-month growth rate of

the LEI continues to improve. The CEI, a measure of current economicconditions, has also increased in five of the last six months, with broadgains in all components.

Ken Goldstein, economist at The Conference Board indicates thatdespite relatively weak data on jobs, home building and output in thepast month or two, the indicators signal continued economic

momentum. Expectations are for a gradual improvement in growth pastthe summer months. The Conference Board

greater baton rouge real estate trends report q1 2012 by louisiana realtors

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