Durel believes that factor may have permanently expanded the retail base, which should pay dividends for years to come, but he predicts smaller increases and a possible leveling off over the next few years as rebuilding abates. Expectations for sustaining this level of growth are unrealistic.
Even before the storms, however, sales in the parish had been climbing steadily ' albeit by much smaller margins ' since 2002. "The five-year trend has been entirely positive, with retail sales increasing from $3.6 billion in 2002 to $5.0 billion last year," says the Lafayette Economic Development Authority's Gregg Gothreaux. "Looking back even farther, in the last decade sales have steadily grown since totals reached $2.8 billion in 1996, with only two years seeing a decrease," he notes.
According to The Louisiana Economic Outlook: 2007 and 2008, the Lafayette area took in about 34,336 evacuees after the 2005 storms, and about 4 percent, or 8,960, have remained in the community. The publication's co-authors, economists Loren Scott and James Richardson, derived those figures from postal records.
Sales at mid-year 2006 were actually outpacing 2005 by 25 percent but began to taper off in the last few months ' the possible result of displaced people returning home or relocating elsewhere. December's sales, in fact, were down slightly, falling from $499 million in 2005 to $492 million last year.
Durel says retail sales increases since 2002 indicate Lafayette's economy was expanding before the hurricanes accelerated the pace. "People were moving into Lafayette before the storms, and the storms just exposed what Lafayette had to offer to a lot of people and brought a lot of positive attention to our area."
We can safely assume incumbent Chief K.P. Gibson isn’t too worried about this challenger.
Nationally, Republicans must gain six seats to win Senate control. The most competitive races, many in states where Obama lost in 2012, remain too close to call.
The Baton Rouge Republican has repeatedly battled a perception within his own party that he perhaps wasn't the best choice to carry the GOP banner.
Even if Jimmy Graham's production dips while the star tight end recovers from a shoulder injury, it looks like Drew Brees won't have much trouble finding other targets.
A former campaign manager for Senate candidate Rob Maness is striking at the Republican contender's tea party support, saying Maness only sought to appeal to conservative organizations because he needed money for his campaign.
Ninety-two percent of public school teachers were rated either effective or highly effective in a report the state issued marking the second year of a new statewide evaluation process.
Corporations spending in state elections; Kenny G and Hong Kong; states resist gay marriage and more national and international news for Thursday, October 23, 2014.
Thursday's Blogs from the Bog!
School board members Mark Babineaux, Hunter Beasley and Tehmi Chassion can vote to fire Cooper — because we all know that’s exactly what they’ll do.
District 2 school board candidate Simon Mahan is hoping to unseat first-term incumbent and former Carencro Mayor Tommy Angelle in the Nov. 4 election.
District Attorney Mike Harson is showing his desperation by falsely attributing quotes to his opponent and blocking journalists from his social media.
The governor is traveling the country laying the groundwork for a possible 2016 presidential campaign, but his approval ratings at home hover well below 50 percent.
State District Judge Bob Downing extended the order and delayed a planned Wednesday hearing about a permanent injunction while negotiations continue between Attorney General Buddy Caldwell and the waste disposal site operator.
New Louisiana higher education commissioner Joseph Rallo will be paid more than his predecessor.
Elijah McGuire and Alonzo Harris each had four rushing touchdowns, and Louisiana-Lafayette rolled to 419 yards on the ground in a 55-40 victory over Arkansas State on Tuesday night.
Bill and Hillary Clinton are the validators-in-chief for Democrats struggling through a bleak campaign season in states where President Barack Obama is deeply unpopular.
President Barack Obama is turning to black radio listeners to plead for midterm votes, a targeted approach to drum up Democratic support at a time when many candidates don't want him around in person.
"I am extremely disheartened by the political machines that are attempting to hijack my efforts along with others that advocate for children."
Landrieu, who is fighting to keep her seat for a fourth term, said that Ebola is serious and precautions should be taken, but she accused Republicans of using the virus outbreak in West Africa to "create fear" here at home.
Law enforcement agencies are participating in a "Louisiana Heroin Summit," designed to address the recent rise in heroin use and drug-related deaths around the state.
State education officials are preparing to release performance scores for public schools and public school districts.
Saints coach Sean Payton is starting a new week by emphasizing, repeatedly, the many good things he noticed during New Orleans' latest loss.
We will be offering our recommendations on the constitutional amendments tomorrow.
The justices did not comment in leaving in place lower court rulings that dismissed the lawsuits against BP and other companies involved in the worst U.S. offshore oil spill.
White registration is down by 7,700 voters while black registration has shot up by 7,100 voters.