Corridor dominates fastest-growing firms list

All but one of the 41 Louisiana firms that made this year’s Inc. 5000 list of the fastest-growing private companies in America are along the 10/12 corridor. Hammond's HoldCube – which provides customized greetings and hold messages for clients – topped the list at No. 95, the lone Louisiana firm in the Top 100. Wesley Valverde started the $3.2 million firm after his plans to attend medical school were sidelined by Hurricane Katrina. In three years, the company's revenues have grown a whopping 2,567%. Advanced Automotive Concepts Enterprises of Metairie, which sells custom lighting solutions for high-end vehicles, came in next at No. 324. Baton Rouge boasts 11 businesses on the Inc. 5000, earning it the distinction of being Louisiana’s hottest region for fast-growing firms. And what small town has a big share? Covington, with three. Combined, the corridor companies on the Inc. 5000 employ more than 21,000 workers and boast revenues of $3.5 billion. Their average three-year median growth rate was 179%. To see the full list, click here.

Country's lone start-up bank opens in Lake Charles

In a time when headlines are rife with news of failing banks, just one new federally insured institution opened its doors in the United States this year – and it's on the corridor. The New York Times reports that former LSU tackle Hartie Spence opened the Lakeside Bank in a double-wide trailer in front of Trinity Baptist Church on July 26. Seven other investor groups got regulatory approval to buy an existing bank and reopen it this year, but Lakeside is the only start-up. Since January 2008, 280 smaller banks and thrifts have closed, and many others are struggling to recover from the recession. Bank failures have cost the Federal Deposit Insurance Corporation's fund about $70 billion. Local real-estate developer Andrew Vanchiere started raising capital for Lakeside in 2007, after he became dissatisfied with his existing bank, according to The New York Times. Regulators told the newspaper Lakeside's application was helped by the "surprising vitality of Lake Charles." To read the full story, click here.

Hammond goes wireless — for free

It's not easy finding something for nothing these days. But visitors to Hammond can now get Internet access for free. Those with laptops and wireless internet devices now can access the internet at no cost in designated areas of the city. The wireless service is concentrated in downtown Hammond, Hammond Square and Southeastern Louisiana University’s campus, as well as along the corridors of University Avenue. The project got its start through the Hammond Chamber of Commerce Business and Commerce Committee five years ago, with an eye toward attracting tourists. The Hammond Downtown Development District, Tangipahoa Parish Tourism Commission, City of Hammond, Southeastern Louisiana University and Hammond Chamber of Commerce are supporting the project financially. Hunt Brothers of Louisiana provided 10 digital subscribers lines in coffee shops, light poles, business and government buildings such as the Downtown Development District office, City Hall, Southeastern’s campus, and Tangipahoa Parish Convention and Visitor’s Bureau around the city. The speed is limited and isn’t meant to compete with local businesses and the system will drop users after being online for four hours. So far, the wireless system has about 150 to 200 users per day.

Last-minute donations offer congressional race money preview

State Rep. Cedric Richmond knows all too well the financial advantages of being the incumbent. Since 2000, he has been able to tap into the fundraising resources that make Baton Rouge tick and kept serious challengers from stepping up. In fact, he has about $20,000 sitting in his state kitty right now, according to the Louisiana Board of Ethics. But, as the winner of last weekend’s Democratic primary, Richmond is now facing an incumbent instead of being one. Congressman Joseph Cao was unopposed in the Republican primary and will defend the 2nd Congressional District against Richmond’s bid on the Nov. 2 ballot. Based the most recent reports on file with the Federal Elections Commission, Cao has collected $1.4 million in donations this cycle, giving him an almost three-to-one edge over Richmond, who has raised slightly more than $500,000. Given Cao’s Beltway connections and national profile, the money game won’t get any easier for Richmond, at least for the time being. If you want a numerical snapshot of how it might play out in coming weeks, just take a gander at the FEC reports filed during the week preceding Saturday’s primary elections. With everything on the line, and healthy leads in the polls made public, Richmond pulled in only four donations totaling $6,500 in those final days. All but one were individuals and businesses from the New Orleans region. However, a $2,000 check also came in from U.S. Rep. Richard E. Neal, a Massachusetts Democrat and member of the influential House Ways and Means Committee — a connection that’s possibly worth more than the donation. Then there’s Cao, who didn’t even face a challenger over the weekend. He reported 15 donations during the primary’s final days totaling nearly $24,000. Six of the contributors were from Louisiana, while the remainder came from Texas, New York, Kansas, Illinois, Mississippi and California. Nonetheless, Richmond’s fundraising could explode overnight depending his on campaign’s viability. But that may also trigger conservatives to dig deep, too. To be certain, Democrats will be keen on returning the New Orleans’ district to their column after two years of Republican rule — probably just as keen as the GOP will be in keeping it. – Jeremy Alford

St. Tammany kicks off its bicentennial celebration today

St. Tammany Parish is kicking off its bicentennial celebration today. The official start takes place from 6-8 p.m. at the council chambers, 21490 Koop Drive in Mandeville. The parish will induct its first five honorees into the St. Tammany Walk of Fame: Author Walker Percy, basketball Hall of Famer "Pistol" Pete Maravich, swing legend Louis Prima, boxer Tony Canzoneri and blues musician Clarence "Gatemouth" Brown. Inside Northside will debut St. Tammany: A Bicentennial Celebration, a 200-page hardcover book commemorating 200 years of life as a parish, and Access St. Tammany Channel 10 will begin filming oral histories of those who wish to share their story of St. Tammany Parish.

Wheat is the hot commodity for Louisiana farmers

Thanks to rising prices, wheat is emerging as the hot crop on Louisiana farms this fall. Wheat prices have increased for two reasons, says LSU AgCenter economist Kurt Guidry. First, the wheat crop in Russia and Eastern Europe was poor this year because of a severe drought, causing Russia to ban exports. Then market speculation added to the price that jumped to $7 per bushel from $4.50 just a few weeks ago. "I’ve gotten tons of calls," says LSU AgCenter small grains breeder Steve Harrison. "This year, we’ve got triple the demand for seed." Louisiana wheat acreage could easily double from last year’s total of 150,000 acres, which was a 60,000-acre decrease from 2008. The last time wheat was such a hot commodity was in 2007. Ending inventories then were around 600 million bushels. Compare that to projected ending stocks this year: nearly 1 billion bushels. However, a dramatic hike in wheat plantings this fall could lower prices considerably. Guidry says if he were to consider planting a wheat crop, "I would try to lock in some of these prices on at least some of my production." Ironically, seed will be difficult, if not impossible, to obtain. Bad planting conditions last fall and decreased wheat acreage resulted in less seed being available this year. Says Harrison: "Seed is absolutely locked up and gone."

Red Stick Festival goes scientific

The popular Red Stick International Animation Festival is going scientific. This year's event will include a special track on scientific animation. Red Stick is partnering with the 2010 Sci-An Awards for Excellence in Scientific Animation to offer panel discussions of current projects, recent advances in the field and the latest applications. Red Stick and the 2010 Sci-An Awards also will jointly present awards to international contributors in this field during the festival, and will honor one contributor with a special leadership award for demonstrating innovation in applying scientific animation to research or communication. "We always use the festival as a platform to highlight the connections among art, science and technology, and scientific animation is a true cohesion of these seemingly unrelated areas," says Red Stick International Animation Festival Director Stacey Simmons. The festival takes place Nov. 10-13 in downtown Baton Rouge. The annual event draws renowned animators, video game developers and other digital media industry professionals to host lectures, workshops and other events for aspiring artists, programmers and entrepreneurs. For more information, click here.

Campers and hunters get a tax break

Hunters and campers can save big bucks this weekend. The Second Amendment Weekend Sales Tax holiday gives shoppers a tax break on supplies, including firearms, gear and off-road vehicles. From Friday through Sunday, eligible items are exempt from all state and local sales taxes in Louisiana. The exemption applies only to consumer purchases and not businesses. Eligible items include hunting accessories; shotguns, rifles, pistols, revolvers and other handguns; ammunition; animal feed for consumption by game; apparel such as safety gear and camouflage clothing; and off-road vehicles like all-terrain vehicles designed for hunting. For the full list of eligible items and other information about the sales tax holiday, click here.

Workshop highlights free business incentives

Want to take advantage of financial incentives available for Louisiana businesses? The Lafayette Economic Development Authority and Louisiana Economic Development will host a free workshop from 8:30 a.m. to 12 p.m. on Sept. 21 at the South Louisiana Community College, 320 Devalcourt St. in Lafayette. Participants will learn about program rules and application processes for: Enterprise Zone, Industrial Tax Exemption, Research and Development, Restoration Tax Abatement, Small Business Loan Guaranty, Technology Commercialization and Quality Jobs. Workshops are open to small business owners, certified public accountants, bankers and potential business owners interested in learning how to take advantage of the state's financial incentives provided through LED. Certified public accountants can also earn continuing professional education credits for attending the workshop. Registration is not required. For more information, contact Marylyn Friedkin at [225] 342-9228 or via email here, or Mark Mouton at [337] 593-1400 or via email here.

Poll: Hurricane Katrina strengthened the corridor

Hurricane Katrina strengthened the 10/12 corridor's population and economy, as 10/12 poll respondents see it. Some 18% believe the corridor has emerged as the economic engine of Louisiana, while another 38% believe the population is simply larger and the economy stronger than before. Another 14% say the corridor is about the same as it was before, while 25% think the corridor isn't all it was cracked up to be. The remaining 2% don't know. The 10/12 poll is not a scientific survey. It reflects the responses of the people who choose to participate. This week's question: When might Louisiana tourism rebound from the Deepwater Horizon spill?

Places to be on the corridor

Steve Scalise

:: Sept. 2: Gulf Coast Claims Facility Administrator Kenneth Feinberg will meet with business and restaurant owners, commercial and recreational fishermen, boaters and citizens at 9:30 a.m. at the Northshore Harbor Center, 100 Harbor Center Blvd. in Slidell. Claims examiners will assist residents in filing their claims and answering questions. For more information, call the St. Tammany East Chamber of Commerce at [985] 643-5678.

:: Sept. 8: Rep. Steve Scalise is the featured speaker at a joint business luncheon for the St. Tammany West Chamber of Commerce, the East St. Tammany Chamber and the Northshore Business Council at Benedict's Plantation, 1144 N. Causeway Blvd. in Mandeville. Doors open at 11:30 a.m., with the program starting at 12 p.m. Cost is $35 for members; $40 for non-members. Reservations are required by Sept. 3. To reserve a spot, call [985] 892-3216, ext. 2, or click here.

:: Sept. 9: The New Orleans Chapter of the American Marketing Association kicks off its new season with "Creating Brand Relevance by Putting Trends to Work," a seminar featuring strategic planning expert Meg Kinney from 11:30 a.m. to 1:30 p.m. at Ralph's on the Park, 900 City Park Ave. in New Orleans. Cost is $30 for members; $40 for non-members; and $28 for students. To RSVP, call [504] 522-4367.

:: Sept. 20: "Globalstar: Why We Chose St. Tammany" is the subject of the St. Tammany Economic Development Foundation Luncheon at Benedict's Plantation, 1144 N. Causeway Blvd. in Mandeville. Speakers include Globalstar CEO Peter Dalton and Louisiana Economic Development Secretary Stephen Moret. Registration begins at 11:30 a.m., with the program from 12-1 p.m. Cost is $35 per person. Reservations are required by Sept. 15. To reserve a spot, call [985] 809-7874.

Viewpoint: Lame opposition strengthens Vitter

It was not the kind of political statement Chet Traylor hoped to make, writes LaPolitics columnist John Maginnis — for hereafter Sen. David Vitter's hapless opponent in the Republican primary will be known as the poster boy of selective memory. From now on, political consultants, before taking their first checks from candidates, should be obliged to issue the Traylor warning: that anything you have said or done, even if your conscience is clear, can and will be used against you. Say, for instance, you are living with the estranged wife of your stepson, whose father claims you wrecked his marriage, it is not enough to say you have nothing to be ashamed of. Not that Louisiana voters are prudes, but it helps if they know you already and like what you've done for them. But, Chet, we hardly knew you before the dirt was dug. Columnists and political junkies aren't the only ones sad not to have Chet Traylor to kick around any more. Before all was revealed, Democrats, who never expected him to beat Vitter, nonetheless hoped the silver-haired retired Supreme Court justice would do some damage to the incumbent on the character issue, and thus cut him down to size some for Congressman Charlie Melancon in the November election. To read the full column, click here.