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Louisiana's economic recovery could drag into 2022, with Acadiana and Houma experiencing a slower recovery than the rest of the state, according to a recent study.

"The baseline projections, and even the most optimistic projections, are highly unfavorable at this time," wrote Gary Wagner, economics professor at University of Louisiana at Lafayette's B.I. Moody III College of Business Administration. "Much like the national economy, Louisiana is projected to experience a recession more severe than the economic impacts of Hurricane Katrina and the Great Recession."

Construction projects in Acadiana -- including improvements to the Lafayette Parish Courthouse, renovations on college campuses and I-49 South construction -- would receive more than $405 million in state funding under a proposal sent to Gov. John Bel Edwards.

The Legislature is halfway through the Special Session, which started June 1 and must adjourn by June 30. Bills have been moving quickly through the legislative process, and 1A continues to advocate on issues in line with our standing positions.

Here is some of the priority legislation 1A is engaged on:

Digital Media Tax Credit Modernization

New rice facility will be built in Lacassine Industrial Park; project to result in 35 new direct, indirect jobs

Second consecutive year insurer recognized among most civic-minded companies in the U.S.

BATON ROUGE — Blue Cross and Blue Shield of Louisiana has been named a 2020 honoree of The Civic 50 by Points of Light, the world’s largest organization dedicated to volunteer service.  

CEO of One Acadiana, Troy Wayman, stopped by News 15 Today to discuss essential guidelines for phase 2 reopening and his work place readiness playbook. To view the Work place readiness playbook visit: OneAcadiana.org/Playbook

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Our economy cannot recover without child care.

Before the pandemic hit, accessing quality child care was a challenge, with the average monthly cost for two children totaling $996. For 80% of all Louisiana parents, borrowing money to afford care is required to work. According to the 2018 ALICE report, there are 212,980 ALICE — Asset-Limited, Income-Constrained, Employed — households with children in Louisiana, unable to earn a survival budget, choosing between basics like food, medicine and child-care quality.

Updated May 29

Key Takeaways:

The 2020 Regular Session, which adjourned on June 1, was notably punctuated by COVID-19, but was also marked by progress on certain business community priorities, including a major tort reform bill with the aim of lowering auto insurance rates. As the Legislature immediately pivots to a Special Session, here is a recap of some of the priority legislation 1A was engaged on during the Regular Session.

Tort Reform to Lower Auto Insurance Rates