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Louisiana Chemical Industry Economic Impact. LCA/LCIA Board December 13, 2012. Dr. Loren C. Scott Loren C. Scott & Associates, Inc. The Industry. Chemical Manufacturing (NAICS 325) Plastics & Rubber Manufacturing (NAICS 326). The Data. 2010-2012 Constrained by source. Rank In Country.
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Louisiana Chemical Industry Economic Impact LCA/LCIA Board December 13, 2012 Dr. Loren C. Scott Loren C. Scott & Associates, Inc.
The Industry Chemical Manufacturing (NAICS 325) Plastics & Rubber Manufacturing (NAICS 326)
The Data 2010-2012 Constrained by source
Employment Largest Manufacturing Employers in LA in 2011 26,944* jobs
Distribution of Employment:2012-I • Six parishes with 1,500+ • 1. Calcasieu – 3,962 • 2. Iberville – 3,287 • 3. EBR – 3,192 • 4. Ascension - 3,061 • 5. St. Charles – 2,236 • 6. Jefferson – 1,809 • 53 of 64 parishes record at least some employment in the industry
Average Weekly Wage in Manufacturing • Chemicals Manufacturing* $1,761 • Petroleum Manufacturing $1,971 • Plastics/Rubber $ 970 • Average Manufacturing $1,201 • Average Louisiana $ 816 • 47% higher than manufacturing average • 116% above average wage of ALL workers in Louisiana
Distribution of Earnings: 2012-I • Top 4 • EBR - $470.2 mm • Ascension - $378.8 mm • Calcasieu - $364.9 mm • Iberville - $361.1 mm
Value Added: 2010 • Manufacturing $57.1 billion 100% • Chemicals* $22.0 billion 38.6% #1 • Refining $18.9 billion 33.1% #2 • Food $ 4.3 billion 7.5% #3 • Plastics/Rubber $ 0.5 billion 0.9% #10
The TOTAL Impact Adding in the multiplier effect
Total Impacts - 2010 • Business Sales: $52.6 billion • Household Earnings: $ 8.9 billion • 7.3% of all earnings in LA • 167,843 jobs • Means average wage of all jobs = $53,225 • Job multiplier of 6.2 • Big gainers • Manufacturing 52,279 • Retail 16,868 • Healthcare 15,104 • 6 others with 5,000+
Tax Impacts • State Taxes: 2010 • Corp. Franchise: $15,947,077 • Corporate Income: 0 • Direct Sales Taxes: ? • Indirect Taxes: $625,345,000 • Total:$641,292,077
Tax Impacts • Local Government Taxes • Property Taxes: $140,619,090* • Direct Sales Taxes: ? • Indirect Taxes: 393,074,000 • Total $533,693,090
TYITE • In Force – 2011: $54.8 bill • To Chemicals: $30.6 bill • Chemicals Expiring 2012-16: $6.4 bill
Civic Impacts • ExxonMobil & employees: $1.5 million to United Way • About 11% of UW collections • #1 giver in region • ExxonMobil volunteers: 40,000 hours and $715,000 in involvement grants to local non-profits • ExxonMobil Foundation: $1.8 million to LSU and Southern • Total: $5 million in contributions to Baton Rouge area non-profits & schools
Louisiana Chemical Industry Economic Impact LCA/LCIA Board December 13, 2012 Dr. Loren C. Scott Loren C. Scott & Associates, Inc.