Oil patch troubles may spread

The talk at the St. Landry Parish Economic Development District’s monthly meeting is usually overwhemingly about a new project or initiative.
But at Tuesday’s meeting Bill Rodier, executive director, sometimes turned his focus on the troubles in the oil patch where $100-plus per barrel of crude has dissipated to $40 to $50 per barrel.
“We probably haven’t seen the end of some of the impacts on some of our local companies,” Rodier said. “We probably haven’t seen the end of the impact on some of the building and development.”
Rodier pointed to a bright spot.
“We are much, much better diversified than we were in the 1980s,” he said. “But it is going to be an impact on the people that make their living off the oil patch.”
In some indicators the oil price slide has yet to be felt in St. Landry Parish.
Unemployment in St. Landry Parish has remained stuck at around 8 percent since 2014. Parish sales tax revenues are 4 percent from a year ago. Eunice sales tax revenues are up 2.4 percent from a year ago.
“I guess, don’t pull the panic button just yet,” Rodier said.
Deepwater oil and gas production operates outside the price cycles, he said.
“We are going to do what we can to make opportunities out of those challenges,” Rodier said. “That’s what we do. That’s what economic development is about.”
Rodier said he met with representatives of a Eunice oilfield service company who told him they would hire up 40 workers if the right candidates applied.
“So, there is opportunity,” Rodier said. “It isn’t always black and white as it seems with the workforce situation. It is a matter of getting the right workforce trained for the right positions and getting them prepared in the right way.”
In a conclusion to his report to the district’s board, Rodier stated, “There are current economic factors that continue to cause concern for the Acadiana economy in the minds of many people. New data continues to surface that the impact of this downturn in oil pricing may be more prolonged than anticipated. Now, as much as ever, people in this parish and around the region will continue to look for leaders to be the ‘Can Do’ voice on moving things forward. As our new branding campaign shows, there is lot to be proud of in SLP and a lot more coming that we can all be proud of. I personally want to thank all of you for being such an integral part of making good things happen for other people and helping to grow the capacity of our organization, as well as our parish. With your support we will dramatically expand opportunities, growth, and positive impact across St Landry Parish throughout the second half of this year and beyond!”
In other news, the district continues to work on developing the 730-acre Harry Guilbeau Area Economic Development District south of Opelousas.
Rodier said negotiations are continuing with landowners in the area.
The development is to include an event center.