Diversification, the Interstate-10 corridor and housing related to growth are important target points for Iberia, St. Martin and St. Mary economic development organizations as those parishes look to further strengthen local economies in 2009.

Iberia Parish

Mike Tarantino, president and CEO of the Iberia Industrial Development Foun-dation, said during his tenure at IDF, he has preached the importance of diversification to prevent a similar fallout of the oil bust in the early 1980s.

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He said one way to ensure the economy remains strong regardless of the state of the oil and gas industry is to grow other sectors of the local economy like health care or construction.

He said if residents were to compare the local economy of the mid-1980s to 2008, they would find many more industry sectors growing and thriving.

He said this push for diversification will continue to be at the forefront of IDF’s mission and will include in the coming year, utilizing results of the Whittaker study, which has identified companies within certain industry sectors that are poised for growth and or relocation.

Recently, IDF and the city of New Iberia entered into a partnership to finance the Buxton study.

The study will identify retailers that might be a good fit for the community,  uncover retail leakage — when shoppers go elsewhere because goods are not offered locally — and also identify ways current local merchants could expand to meet the growing retail needs of residents.

Preliminary results from the Buxton study could come in early March.

Tarantino said IDF will also begin working closely with the newly formed Iberia Economic Development Authority to identify its mission and goals. Fran Henderson of Boudreaux, Henderson and Co., Cecil Hymel of Tabasco, Liz Bodin of Iberia Bank, Jim Wiggins of the Twin Parish Port Commission and Damon Migues of the First National Bank of Jeanerette have been appointed by the Iberia Parish Council to serve on the Authority board.

St. Martin Parish

Beth Guidry, executive director of St. Martin Economic Development, said the organization’s focus for the new year will continue to be centered on the Interstate 10 corridor, which is growing at a fast pace.

She said St. Martin Parish recently finished construction on a business complex off of U.S. 90 that is already fully leased and are turning their sites on another similar development.

“For us the Breaux Bridge area had grown in the double digits and we are trying to keep up with that pace,” she said. “It’s kind of like the adage ‘If you build it they will come,’ we will just keep preparing for future growth.”

She said another hot topic for economic development in the St. Martin Parish is infrastructure — roads, water and sewerage.

“Infrastructure is a given for a growing parish like ours and in the next few years we will continue to seek out partnerships with the state and federal governments as well as private partnerships to fund these projects,” she said.

St. Mary Parish

Housing makes the tops of the list of needs for St. Mary Parish.

Frank Fink, director of St. Mary Economic Development Authority, said the parish government passed an ordinance in December allowing for property tax abatement for developers as an incentive to get more housing built in the parish.

“Without a substantial amount of housing its difficult to attract new business,” he said.

Fink said the authority is also preparing for the construction of the Henry Gas Storage pipeline in 2010 that will employ 1,600 construction workers, making the need for apartments and housing even more essential.

In addition, Fink said the authority will focus on working with the local oil and gas industry.

“We are always looking for ways to assist our oil and gas companies located here, because it is important to the local economy that that industry remain healthy,” he said.