January brings optimism to all those persons and entities that promote local businesses and recruit new businesses. There are always projections of expansion of existing businesses and new players that will bring pots of gold to be spread over the area like Mardi Gras beads.
Bossier's Cyber Innovation Park, Shreveport's BRF, and the Port of Caddo-Bossier can usually be counted on to start major construction projects and/or open new facilities each year. Many other Shreveport-Bossier businesses have expansion plans that may come to fruition by year's end.
And then there is the pending rejuvenation of downtown Shreveport and its environs by the much heralded and long awaited arrival of Curtis "50 Cent" Jackson and his gold train.
To date, Jackson has expanded over $2 million for downtown real estate property purchases. Jackson has not spent any funds on rehabilitation/renovation of these empty structures and a parking lot. And he has not produced any films/tv shows locally although he has paid rent, utilities and insurance on the former Millennium Studios.
Jackson did host his Humor & Harmony Festival in Shreveport last July. Other than building rentals and temporary employee pay, Shreveport did not realize any bump in sales tax revenues or identifiable revenue increases.
Live! Casino's February opening will certainly boost Bossier's economy and Shreveport's as well with sales taxes and gaming revenues. The expenditure of Shreveport capital improvement bond monies will have immediate and long-term economic benefits from money spent and restoration of the city's infrastructure.
Leaving these two aside, those planning on an economic renaissance in Shreveport-Bossier may want to hedge their bets while staying optimistic. This is just one man's opinion, and it’s really only worth the time spent reading this column.