Economic development focus shifts for state agency from recruitment to retention and entrepreneurship

Louisiana’s top economic development official said Thursday that his agency is shifting resources from out-of-state recruiting to retaining existing businesses and helping them expand.

Louisiana Economic Development Secretary Stephen Moret told legislators that he plans to double the size — from three employees to six — of a new department that’s focused on business retention and expansion. The workers will be taken from a group of 18 state employees who work mainly on attracting companies from other states.

Moret said the change is being made because the business-retention program, which was launched two years ago, has proved extremely popular.

By Jan Moller, The Times-Picayune

Full Story: http://www.nola.com/politics/index.ssf/2010/03/economic_development_focus_shi.html