GOV EDWARD'S END OF YEAR PRESS CONFERENCE - Louisiana’s budget deficit is gone, there’s improved job growth with lower unemployment numbers and a better state economy --- These were the highlights of Governor John Bel Edward’s final news conference for 2018 held yesterday at the governor’s mansion in Baton Rouge yesterday.
Addressing a group of state media members, Edwards shared this news as he enters the 2019 campaign year as he runs for a second term.
"A $2 billion deficit has given way to a $300 million surplus at the close of the last fiscal year. Credit rating agencies have removed the state from the negative watch list," explained Edwards. "Funding for higher education has been fully stabilized over the last two years. TOPS and GO grants are fully funded. And we were able to give the people of Louisiana a net reduction in their tax burden from last fiscal year to this one of $600 million. "
But not all the news was positive as Edwards did point out how tariffs have a direct impact on Louisiana’s agriculture, an industry with annual total economic impact of $11 billion to $13 billion.
"As most of you know, Bloomberg issued a report this past summer that of all 50 states Louisiana was positioned to suffer the most from a protacted set of tariffs, retalitory tariffs and trade disputes," said Edwards. "And as a result in July I raised the issue with the president in a letter I sent to him. I'm hopeful that congress and our congressional delegation will step in to alleviate some of the pain that these retalitory tariffs are causing to our petro-chemical industry and our agricultural sector."
Louisiana’s wage growth was cut in half during the third quarter, dragged down primarily by agriculture losses caused by tariffs and flooding. The U.S. Bureau of Economic Analysis reported wages grew at 2.3 percent during the third quarter, down from 4.8 percent in the second quarter and down from a robust 6.6 percent in the first quarter.
For the governor's race Edwards, faces Two Republicans, Baton Rouge businessman Eddie Rispone’ and U.S. Rep. Ralph Abraham, of Alto — who have already announced plans to run against Edwards, and both have taken aim at the state's economic picture, which they argue could be better.
