Louisiana was recently ranked the 29th best state in the nation for business. In fact, the state experienced the largest growth of any state over last year’s rankings.

Gov. Bobby Jindal was quick to tout the ranking saying that it’s because of Louisiana’s focus on economic development. In Southwest Louisiana alone more than $70 billion worth of capital investments have been reported for the next five years. Workforce development has been a major concern over the last few years as several plants have announced multi-billion-dollar expansions.

“When we took office in early 2008, we prioritized economic development. We pledged to our existing employers and everyone in our state that we would repair Louisiana’s image and build Louisiana’s reputation as a new frontier for business opportunity. Fast-forward seven years, and the results speak for themselves,” Jindal said in a news release. “We’ve positioned Louisiana for a brighter future, and we’re cultivating historic job and career opportunities like no previous generation in our state has ever seen.”

Jindal acknowledged the more than 83,000 jobs being created in Louisiana. Tax incentives for companies wanting to come to Louisiana or expand existing operations has been a major strategy for the administration.

Though Louisiana also was given a rating of 49th in quality of life and 41 in labor supply, Forbes writer Kurt Badenhausen gave the state a pat on the back for its strides.

“The biggest gainer this year is Louisiana, which rises to No. 29 from No. 40,” Badenhausen said in the Forbes report, which deemed Utah No. 1. “Louisiana has made great strides since Hurricanes Rita and Katrina hit in 2005. Income and economic growth are among the best in the U.S. over the last five years. Lower business costs and an improved economic outlook also pushed up the Bayou State.”

The state’s improvement in the Forbes Best States for Business ranking comes on the heels of two major landmarks this year for Louisiana. In August, Business Facilities magazine ranked Louisiana’s business climate No. 1 in the U.S., while also ranking the state’s LED FastStart program No. 1 in the country for state workforce development training programs. In early November, Site Selection magazine ranked Louisiana’s business climate No. 2 in its 2014 Top U.S. Business Climates.

To read the full report on The Best States for Business 2014 visit www.forbes.com/best-states-for-business.

It’s crucial for Louisiana to answer existing workforce needs and continue to climb the ladder of business growth for years to come.(MGNonline)