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THE BOSSIER MEANS BUSINESS BLOG

Buy Bossier: It’s important to keep it local, now more than ever

The original campaign is meant to deter retail leakage due to the more increasingly popular trend of purchasing goods and services online through companies outside of the area. With the negative effects of the current pandemic still lingering and restrictions still in place, it is more important than ever to support local businesses. Many business owners had to quickly pivot operations and work harder to support locals during the phased shut downs and have suffered through unforeseen circumstances.

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Economic Insight from the Dallas Federal Reserve

The GBEDF is thankful to its partners and for the opportunity to host the Dallas Federal Reserve in the region. It is important that northwest Louisiana is both represented and engaged in open dialogue of monetary policy discussion. Our region is home to critical industries which help to sustain not only the local economy but also contributes to the wider health of the U.S. economy.  Opportunities such as these allow us to better understand and discover new ways in which our local industries can contribute on the global scale.

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COVID effects on consumer confidence, behavior and what’s in store

According to a consumer sentiment survey conducted by McKinsey and Company, 68 percent of Americans are not engaging in out of home activity and are waiting to see what is in store for public safety as restrictions are lifted. This sentiment could last more than six months as more Americans are getting comfortable with what some experts are calling “homebody economics”. This is leading to more home-based purchases such as home office furniture and home exercise equipment.

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Disruptions can be a good reminder of the region’s assets

Despite the necessary ‘distancing’ mandate by the Governor, these times have united the region more than divided. I am proud to both witness and be reminded of our strength when we work together. It is extraordinary to see partnerships formed amid a crisis. They are formed not for profit, but with the calling to support those in need while deploying the region’s greatest assets.

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Stewarding relationships and providing resources help to further develop the region

Change happens not only in communities, but in organizations as well. Our role as the lead organization for economic development in Bossier Parish and Bossier City has remained the same; to position Bossier to be competitive in securing new jobs and investment. However, due to the tremendous growth of the area, how we execute the Greater Bossier Economic Development Foundation’s (GBEDF) mission is changing.

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Rockett named Louisiana Industrial Development Executives Association (LIDEA) Chairman of the Board for 2020

“I am very honored to lead LIDEA into the next decade. LIDEA has been an important part of the economic development landscape in our state for decades. This organization continues to be a leader and a voice for issues among practitioners and within the industries we partner with. The diverse professional background and expertise represented among the members of the board and its officers will allow us to explore and leverage multiple avenues in order to grow our state.” stated incoming LIDEA president David “Rocky” Rockett, Jr.

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Challenges affecting business retention today

Addressing what factors are driving existing industry’s decision-making processes could not come at a more relevant time. As economic developers are accountable to many stakeholders, existing industry remains a primary focus for stewarding economic development activity. Nearly 80% of a community’s ability to foster economic success comes from existing business and industry. Paying close attention to what’s going on in our backyard is critical for the region’s success.

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