Back in 1863 when Shreveport was founded in the state of Louisiana by the Shreve Town Company, it was designed as a crossroad city for the Red River and the Texas Trail. Business men in the city may have traded in their saddle bags for iPhone pouches since then, but the purpose of Shreveport remains the same. As a trading and manufacturing ground for local, nearby, and now international cities and companies, Shreveport remains at the crossroads, only those roads have grown much longer.
At one time, Shreveport was a major part of American oil manufacturing. Standard Oil of Louisiana once acted as the wire duct between the city of Shreveport and the American oil industry, as Standard was a locally owned company. This meant profits went right back into the local economy, allowing many years of prosperity for the city. However, economic downturn in the late 80's and 90's acted as a cable cutter between Standard and Shreveport, severing their ties when the company was bought up by Standard Oil of New Jersey. Much local revenue was lost and jobs began to disappear, along with the residents. Though oil is still manufactured there today, the golden years have passed Shreveport oil by.
Today, natural gas is allowing residents to cash in. The Haynesville Shale, which is said to be the largest natural gas deposit in the country, has local property owners receiving bonuses of up to $25,000 per acre when they sign over mineral rights to prospective companies. Though natural gas prices are lower than in previous years, the discovery of the Haynesville Shale is providing a much needed boost to Shreveport economics. Over the next decade, the city will rely heavily on this industry to create new jobs for a city hit hard by the losses suffered by drops in oil manufacturing.
Some of Shreveport's other economic output comes from metal manufacturing. There is a wide variety of products manufactured at any of the forty manufacturing sites in the city. From a heavy duty submersible pump right down to a front license plate bracket, chances are you can find it built in Shreveport. Lumber and cotton are also large economic producers for the city.
Like many cities these days, technology manufacturing is becoming a vital part of Shreveport's economic production. From software and hardware production down to maintenance and servicing, the technology sector is as strong as leaded glass in today's American economy. Pharmaceuticals are also a vital manufacturing sector in Shreveport and around the country, particularly with the increase in both new medical drugs and an increase in the senior population.
Much has changed in Shreveport since its creation over 140 years ago. Like so many towns, there have been ups and downs, but the city has always found a way to adapt and survive. Going forward, new sectors such as technology, as well as the old standards like gas and oil will keep Shreveport alive and thriving in the heart of Louisiana. | 