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2014 Legislative Issues Conference

2014 Legislative Issues Conference. Baton Rouge January 31, 2014. Welcome to the 2014 Baton Rouge Legislative Issues Conference. LABI’s renewed partnership with the Baton Rouge Area Chamber and peers around the state

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2014 Legislative Issues Conference

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  1. 2014 LegislativeIssues Conference Baton Rouge January 31, 2014

  2. Welcome to the 2014 Baton Rouge Legislative Issues Conference • LABI’s renewed partnership with the Baton Rouge Area Chamber and peers around the state • Exciting news in the region with significant job growth, especially in emerging industries

  3. LABI’S RENEWED COMMITMENT, New Direction • LABI’s history of accomplishments and impact • New direction • Strengthening the business community coalition • Producing research • Enhancing engagement at the federal level • Highlighting and responding to small business • Becoming more accessible with online Issue Councils • Offering more solutions and services for your business, exemplified in the LABI Benefits Center

  4. LABI’s OUTLOOK for 2014 • Louisiana is competing in a global economy. • The state is on the verge of unprecedented growth. • Economists predict two million jobs in 2015 for the first time in the state’s history.

  5. LABI’s OUTLOOK for 2014 • Good times can fade quickly. • Louisiana – business and government – must capitalize on this moment and lay the groundwork for “cruise-control” growth.

  6. 2014 LABI PRIORITIES for Cruise-Control Growth Workforce Development Civil Justice Reform

  7. Workforce Development: Making the Case • LABI members are reporting the challenge in finding qualified, skilled applicants, many who lack basic education, technical skills, and soft skills. • Louisiana ranks 48thin reading, 50thin mathematics – U.S. students now rank 17th in reading, 26th in mathematics. • 80% of company managers require more critical thinking for 21st century jobs.

  8. A Comprehensive Solution ON Workforce Development INDUSTRY CAN LEAD WITH SOLUTIONS The LABI Approach January 2014 PARTNERING WITH GOVERNMENT TO solve problems

  9. CIVIL Justice Reform: Making the Case • Lawsuits cost Americans an estimated $865 billion annually, and costs are on the rise– yet victims receive less than 15 cents of every dollar. • In Louisiana, our poor legal climate costs the state as many as 50,000 new jobs every year. • 70% of corporate executives report that a state’s litigation environment affects where they locate and do business. • An improved legal environment in Louisiana would save businesses operating in our state up to $1.1 billion in lawsuit costs and would increase employment between 1% and 2.8%.

  10. STATISTICS TELL THE STORY OF LOUISIANA’S REPUTATION… AND REPUTATION MATTERS.

  11. CIVIL Justice Reform: Making the Case • Nearly 60% of LABI members report that frivolous lawsuits increase the cost of doing business, savings they could otherwise re-invest in their businesses and in the economy.

  12. CIVIL Justice Reform: Making the Case An inefficient and costly tort system means: When calculated for a family of four, the “tort tax” is estimated at: $9,827 annually, or 8% tax on consumption, or 13% tax on wages. Less money for family priorities and in the economy in general • Higher prices • Lower wages • Less innovation • Less investment

  13. CIVIL Justice Reform: Our Challenges • Louisiana is one of only 14 states to place limitations on a citizen’s constitutional right to a trial by jury, instead requiring a civil trial occur before an elected judge. • Of these states, Louisiana law has the highest bar to cross with a $50,000 minimum civil claim in order to request a trial by a jury of your peers.

  14. $50,000 $20 - $15,000 $0

  15. CIVIL Justice Reform: OUR CHALLENGES • Civil justice reform should be a concern for businesses, but also for citizens, for workers, for taxpayers. • The jury trial threshold is one example of how average citizens suffer from laws that are out-of-line with other states. • Louisiana has created this problem by designing a legal system where excessive lawsuits are a profitable enterprise, and entrepreneurial trial lawyers can “judge shop” to find a favorable venue for their case.

  16. CIVIL Justice Reform: Our Challenges • The costs that result from excessive litigation are passed to the consumer across the board, but more specifically, insurance rates go up. Louisiana has the most expensive car insurance in America, in part due to excessive litigation. • In short, Louisiana can do better.

  17. The 2014 Legislative Session • In sum, LABI will focus on workforce development and civil justice reform as two primary policy priorities for the 2014 legislative session to put Louisiana on a path to cruise-control growth. • But there will also be threats to business that we will fight: • A mandatory minimum wage increase • Union strengthening • Attacks on school choice and accountability

  18. The 2014 Legislative Session • We need your help to lay the groundwork for economic growth and to defend against anti-business legislation. • Certainly there will be other hot topics this session, ranging from the state budget to Medicaid expansion. • But we believe the business community must speak with a united voice on top priorities that truly move us forward, and we look forward to working with you in the months ahead.

  19. LABI Member Spotlight • Art Favre, President, Performance Contractors Inc.

  20. 2014 LegislativeIssues Conference Baton Rouge January 31, 2014

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