After crashing from 2014-2016, Lafayette Parish’s GDP had shown signs of recovery. Then 2020 happened, blowing a billion dollar hole in Lafayette’s economy.
GDP, personal income, employment, retail and real estate sales are all increasing, but without oil and gas recovering our economy is trending towards mediocrity.
The gist: For the first time ever, the Bureau of Economic Analysis has released parish-level gross domestic product data. Previously, local GDP data was only available for Lafayette’s metro area, which includes four neighboring parishes. The more precise geographic data gives better insight into the parish economy’s performance from 2001 to 2018. Not surprisingly, this […]
Lafayette needs to replace $10 billion in local GDP in the next five years or risk losing an entire generation of thinkers and doers.