SHREVEPORT-BOSSIER CITY MSA MARKET SUMMARY OCTOBER

Transcription

1 SHREVEPORT-BOSSIER CITY MSA MARKET SUMMARY OCTOBER 2013

2 SHREVEPORT-BOSSIER CITY MSA INCLUDES CADDO, BOSSIER & DESOTO PARISHES INCSDNDE The Shreveport-Bossier City MSA is the third largest MSA in Louisiana behind New Orleans and Baton Rouge. It is situated 30 miles south of the Arkansas/Louisiana border, mid-way between Dallas, Texas and Jackson, Mississippi. Shreveport, combined with its sister city, Bossier City, is the only major metropolitan area in the northern one-third of Louisiana and is the cultural and economic core of the 200-mile radius encapsulating Louisiana, Arkansas and Texas - also known as the Ark-La-Tex. Shreveport-Bossier City MSA Communities ** Indicates Parish Seat Caddo Parish Bossier Parish DeSoto Parish Dixie Belcher Bossier City Mansfield ** Gilliam Blanchard Benton ** Keachie Greenwood Hosston Haughton Stonewall Oil City Ida Plain Dealing Logansport Rodessa Mooringsport Grand Cane Shreveport ** South Mansfield Vivian Longstreet Stanley Source: NLEP

3 SHREVEPORT-BOSSIER CITY MSA AREA MAP INCLUDES CADDO, BOSSIER & DESOTO PARISHES RELATIVE LOCATION OF MSA TO OTHER MAJOR U.S. CITIES Tulsa Oklahoma City 150 miles Little Rock Memphis 100 miles 50 miles Dallas Tyler Jackson Alexandria Austin Baton Rouge Lafayette Houston New Orleans San Antonio Source: NLEP & Sites USA

4 Shreveport / Bossier City Market Snapshot As of October 2013 TEXAS 71 Webster Bossier* Caddo* Bossier City Shreveport 79 Minden Claiborne ARKANSAS LOUISIANA Monroe Ruston OVERVIEW Unemployment Rate, August 2013 (Preliminary): Not Seasonally Adjusted United States: 7.3% Louisiana: 7.1% Caddo Parish: 7.9% Bossier Parish: 6.3% DeSoto Parish: 8.8% Shreveport-Bossier City MSA*: 7.5% DeSoto* 84 Mansfield Bienville Red River 84 Natchitoches *Shreveport-Bossier City MSA includes Caddo, Bossier and DeSoto Parishes $5 $4 Caddo Parish Parish Demographics: Population 2013 Estimate Annual Growth ( ) Avg. Household Income 2013 Estimate Annual Growth ( ) Households above $75K RETAIL SALES ESTIMATES Retail Sales less Motor Vehicle Sales (Parishwide) Bossier Parish 4.37 $2.5 $ Caddo 259, % 2.40 $57, % 23.4% 2.30 Bossier 122, % $66, % 33% 2.16 DeSoto 26, % $52, % 23.4% Billions $3 $ Billions $1.5 $ $1 $0.5 $0 $ Annual January - June Annual January - June RESIDENTIAL REAL ESTATE MARKET $200,000 $175,000 $150,000 $125,000 Residential Sold Statistics** $162,930 $175,828 $181,354 $162,200 $159,898 $171,812 $172,304 $169,869 $172,039 $172,534 2,000 1,750 1,500 1, Single-Family, New Construction Building Permits $100,000 $75,000 $50, ,099 1, ,169 1, ,162 1Q-11 2Q-11 3Q-11 4Q-11 1Q-12 2Q-12 3Q-12 4Q-12 1Q -13 2Q-13 Average Sold Price # of Sold Listings 1, Caddo Parish Bossier Parish **From Northwest Louisiana Association of REALTORS and MLS, Inc.; includes Bienville, Bossier, Caddo, Claiborne, DeSoto, Red River & Webster Parishes Sources: La. Dept. of Labor, SitesUSA, and LSU-Shreveport s Center for Business & Economic Research

5 Shreveport / Bossier City Rankings & Positives As of August 2013 ARKANSAS LOUISIANA ECONOMIC DEVELOPMENT WINS Honeywell Performance Materials and Technologies Baton Rouge (2 Sites), Geismar, Shreveport Announced July 2013 $208 million in manufacturing projects at 4 sites; 42 direct, 698 retained jobs Shreveport- Bossier City Metro Ruston Bossier City Shreveport 20 Idaho Timber, Coushatta Announced May 2013 $3.5 million to refurbish and reopen sawmill; 90 new direct jobs Elio Motors, Shreveport Announced January 2013 $100+ million vehicle manufacturing facility; 1,500 direct jobs by late 2015 Benteler Steel/Tube GmbH, Shreveport Announced October 2012 $900 million manufacturing plant at Port of Caddo-Bossier; 675 direct jobs TEXAS Haynes International, Arcadia Announced June 2012 $37 million expansion of tubular facility; 19 new jobs, 141 retained Natchitoches Ronpak, Shreveport Announced May 2012, July 2011 Relocating corporate headquarters from New Jersey; 100 new jobs $16.8 million manufacturing facility; 175 new direct jobs RANKINGS #9 for Economic Growth Potential Business Facilities 2013 Metro Rankings Report, July 2013 Shreveport among Top 20 Fastest Growing Cities in U.S. NerdWallet.com, June 2013 Top North American Deals of 2012: Benteler Steel/Tube in Shreveport - 2 nd largest investment in the U.S. during 2012 Site Selection, May 2013 Ten Oil & Gas Rich Markets that Offer Plenty to Non-Oil Related Companies Southern Business & Development, April 2013 Top 15 Corporate Investment: Benteler Steel/Tube GmbH at the Port of Caddo-Bossier in Shreveport Trade & Industry Development, March 2013 Cities to be a Moviemaker Cities on the Rise: Shreveport, LA MovieMaker, March th of 366 metros for 2011 real GDP growth of 5.5% U.S. Bureau of Economic Analysis, February 2013 Northwestern State University of Louisiana: #57 Best Online Bachelor s Programs U.S. News & World Report Online Programs, January th of 366 U.S. metros for per capita income growth, with inflation-adjusted growth of 5.41% from 2009 to 2011 The Business Journals On Numbers, December 2012 Shreveport, New Orleans and Baton Rouge hubs make Louisiana #1 Digital Media Leader Business Facilities 2012 State Rankings Report, July 2012 #1 for Real Gross Metropolitan Product (GMP) growth of 13.7% annual average from 2008 to 2010 (U.S. -0.3% & All Metros -0.1%) U.S. Conference of Mayors U.S. Metro Economies Report, July 2012 #1 metro in the U.S. for low cost of doing business Forbes, June 2012 Bossier among 4 Louisiana parishes in Top 100 for Greatest Housing Gains in the U.S. between April 2010 and July 2011 United State Census Bureau, June 2012 PAGE O The foregoing is solely for information purposes & subject to change without notice. Stirling Properties makes no representations or warranties regarding the information herein Stirling Properties, LLC

6 POPULATION GROWTH The Shreveport-Bossier City MSA is estimated to have a 2013 population of 408,579. This represents a 8.73% increase in population since Shreveport Bossier City MSA Population Growth ( ) 408, , , , , , , , , , ,000 The Shreveport-Bossier population is projected to increase 1.2% by This growth will occur primarily in south Shreveport, south Bossier City and north Bossier City due to new residential developments and supporting commercial construction. 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 0 to 4 5 to 9 10 to 14 Percent of Population by Age U.S. VS Shreveport Bossier City MSA 15 to to to to to to to to to to to to to to US Census MSA (2013 Estimate) Source: Sites USA

7 HOUSEHOLD INCOME The 2013 estimate for average household income in Shreveport-Bossier MSA is approximately $59,857. This is expected to increase over the next five years, from $59,857 to $62,985 - a 1.0% growth. 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Shreveport Bossier City Household Income Distribution ( 2013) 9.2% 7.1% 13.6% 11.8% 15.7% 16.4% 10.7% 6.4% 2.8% 2.1% 4.3% Less than $10,000 $10,000 to $14,999 $15,000 to $ 24,999 $25,000 to $34,999 $35,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 to $124,999 $125,000 to $149,999 $150,000 to $199,999 Median household income in the Shreveport-Bossier MSA grew at an annual rate of 2.1% between 2000 and It is expected to continue to grow over the next 5 years. $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $ Median Household Income $41,493 $38,653 $37,522 $31, (Projection) Source: Sites USA

8 COST OF LIVING The Shreveport-Bossier MSA has a cost of living that is just 98.2% of the national average. This allows the residents of the Shreveport-Bossier MSA to enjoy a cost of living below the national average in every category: food, housing, transportation, utilities, healthcare and miscellaneous goods/services. 101% Cost of Living Comparison 100% 100% 99% 99% 98% 98% 97% National Shreveport-Bossier City MSA MSA Composite (weight ) Grocery (29.29%) Housing (29.18%) Utilities (9.98%) Transp. (11.1%) Healthcare (4.06%) Mis. Gd & Svc. (33.19%) U.S. Shreveport-Bossier City MSA % 94.80% 95.20% 96.60% 94.20% 93.60% % Source: NLEP & Sites USA

9 MULTIMODAL TRANSPORTATION INFRASTRUCTURE Major 2 or 4 Lane Interstates/Highways Linking the Area Major Interstate/Highway Direction Interstate 20 Interstate 49 Interstate 220 Interstate 69 (Proposed) US 71 US 79/80 US 171 LA 3 LA 1 City East-West South (North Proposed) North Bypass East-West (Proposed) North-South East-West North-South North-South North-South Distance in Miles to Five Metro Areas Miles Dallas, Texas 190 Little Rock, Arkansas 215 Houston, Texas 245 Baton Rouge, Louisiana 265 Jackson, Mississippi 215 Union Pacific (UP) Railroads Kansas City Southern (KCS) Burlington Northern Santa Fe Railroad (BNSF) Louisiana & North West Railroad (LNW) Louisiana Southern Railroad (LAS) Arkansas & Louisiana Mississippi Railroad (ALM) Shreveport Regional Airport American Eagle Airlines Allegiant Air Major Passenger Airlines (Provides flights to Las Vegas, Dallas/Fort Worth, Houston, Atlanta, Memphis, Detroit, Orlando and Denver) Atlantic South Airlines Continental Express Airlines Northwest Airlink United Airlines Source: NLEP

10 Port of Shreveport-Bossier City Acts as a major powerhouse that provides both domestic and international trade access with a strategic location of a 2,000 acre complex and superior network of interstate, highway, rail, water and air. Miles from Area 5 River, Lake or Ocean Channel Depth Turning Basin Barging Facilities General Cargo Facilities Containerized Facilities Storage Facilities Red River 9 foot depth and 200 foot wide 3,200 foot long Yes Yes No Yes 2 Interstates: I-20, I-49, future I-69 Highways Serving Port Railways Serving Port 2 Interstate Linkages: I-220, LA Federal Highways: US 71, US 171 Union Pacific Kansas City Southern Other Shreveport-Bossier MSA Ports Red River Port 5 miles Natchitoches Port 70 miles Ouachita Terminals 99 miles Greater Ouachita Port 133 miles (DeSoto Parish) or 106 miles (Bossier Parish) Source: NLEP

11 MAJOR EMPLOYERS Manufacturing, warehousing, distribution, tourism, agriculture, educational institutions, medical facilities, service industries and oil and gas exploration and production serve as leading industries for employment in the Shreveport-Bossier City MSA. Shown below is a chart of major employers in the Shreveport-Bossier MSA. Shreveport-Bossier City MSA Major Employers Includes Caddo, Bossier and DeSoto Parishes State of Louisiana (Civil Service) Government 9,338 Barksdale Air Force Base Military 8,655 Caddo Parish School Board Public Education 6,815 LSU Health Sciences Center Health Care 6,295 Wal-Mart Stores, Inc. Retail 5,848 Willis Knighton Health System Healthcare 5,825 Bossier Parish School Board Public Education 2,831 City of Shreveport Government 2,691 Harrah s Horseshoe Casino & Hotel/ Harrah s Louisiana Downs Gaming Casino & Hotel 2,000 Christus Schumpert Health System Healthcare 1,900 U.S. Support Company Call Center 1,618 Overton Brooks VA Medical Center Healthcare 1,588 Eldorado Resort Casino Gaming Casino & Hotel 1,400 Sam s Town Hotel & Casino Gaming Casino & Hotel 1,265 Brookshire s, Super 1 Foods Grocery 1,220 McDonald s Corp Fast Food Restaurant 1,183 International Paper Company Wood Product Manufacturing 1,074 City of Bossier Government 971 Libbey Glass, Inc. Glassware Manufacturer 950 The Arc of Caddo-Bossier Non-Profit Organization 857 Diamond Jack s Casino Resort Gaming Casino & Hotel 837 DeSoto Parish School Board Public Education 794 Caddo Parish Sheriff s Office Public Service 763 Boomtown Casino Gaming Casino & Hotel 644 Frymaster, LLC Food Service Equipment Manufacturing Bossier Parish Community College Education 552 Louisiana State University Shreveport Education 531 Halliburton Energy Services Oil Field Services 530 Cellixion Com Towers/Concrete Shelters 458 Caddo Parish Commission Government 441 Northwest Supports & Services Center Healthcare Residential Facility 409 Southern University at Shreveport Education 344 Evergreen Presbyterian Ministries Res Care Services Ind/ Family 289 DeSoto Regional Health Systems Healthcare 260 Barksdale Federal Credit Union Banking Credit Union 258 Centenary College of Louisiana Education 254 Dolet Hills Mining Venture Lignite Coal Surface Mining 247 Bass Pro Shop Retail 222 McElroy Metal, Inc. Roofing 200 Porter s of Louisiana, LLC Dry Cleaning Source: NLEP

12 SHREVEPORT-BOSSIER CITY MSA WORKFORCE BY PARISH Caddo Parish Workforce (August 2013) Source: Louisiana Workforce Commission Civilian Labor 115,550 Employed 106,426 Unemployed 9,124 Unemployment rate (not seasonally adjusted) 7.9% Type of Jobs (2013) Source: Sites USA White Collar Jobs 56.6% Blue Collar Jobs 43.4% Educational Attainment (2013) Source: Sites USA Elementary 4.3% Some High School 11.5% High School Graduate 35.0% Some College 21.8% Associate Degree Only 5.6% Bachelor Degree Only 14.0% Graduate Degree 7.8% Bossier Parish Workforce (August 2013) Source: Louisiana Workforce Commission, March 2013 Civilian Labor 55,599 Employed 52,091 Unemployed 3,508 Unemployment rate (not seasonally adjusted) 6.3% Type of Jobs (2013) Source: Sites USA White Collar Jobs 56.2% Blue Collar Jobs 43.8% Educational Attainment (2013) Source: Sites USA Elementary 3.9% Some High School 9.4% High School Graduate 34.0% Some College 23.8% Associate Degree Only 7.5% Bachelor Degree Only 15.0% Graduate Degree 6.4%

13 DeSoto Parish Workforce (August 2013) Source: Louisiana Workforce Commission Civilian Labor 11,170 Employed 10,185 Unemployed 985 Unemployment rate (not seasonally adjusted) 8.8% Type of Jobs (2013) Source: Sites USA White Collar Jobs 49.1% Blue Collar Jobs 50.9% Educational Attainment (2013) Source: Sites USA Elementary 7.2% Some High School 13.7% High School Graduate 41.6% Some College 20.1% Associate Degree Only 4.0% Bachelor Degree Only 8.8% Graduate Degree 4.7% Employment 140, , ,000 80,000 60,000 40,000 20,000 Shreveport-Bossier City MSA Employment Distribution by Parish August 2013 Preliminary Data 0 Caddo Parish Bossier Parish DeSoto Parish Parishes Source: LA Workforce Commission

14 LEADING EMPLOYERS OIL & GAS EXPLORATION INCSDNDE Oil and gas has always been a major industry in Louisiana. However, the discovery of the Haynesville Shale natural gas formation, located primarily in Caddo, Bossier, DeSoto and Red River Parishes, had produced an unprecedented positive impact on the economy of North Louisiana making it the No. 2 producer of natural gas in the country. This geological rock formation which lies more than 10,000 feet below the surface of northwest Louisiana, southwest Arkansas and east Texas has been estimated to represent an equivalent of nearly 18 years of current U.S. oil production according to the Louisiana Oil and Gas Association. During the next five years, the Louisiana Oil and Gas Association expects shale activity to generate $61 billion in new business sales and $15.6 billion in new household earnings. Local governments will generate nearly $844 million and $195 million will be paid in severance taxes to the state. Source: LA Oil & Gas Association

15 FILM INDUSTRY State tax credits offered by the State of Louisiana made Louisiana the third largest film industry in the U.S. behind California and New York. After Hurricane Katrina hit New Orleans and the Gulf Coast in 2005, many filmmakers moved into the Shreveport- Bossier City region and today, the film and television industry has produced more than 122 movie and television productions with budgets totaling more than $1 billion and creating more than 7,000 crew positions. Shreveport s reputation for ease of production, governmental and community support and streamlined permitting, combined with the state tax credits, have major production companies filming at unprecedented rates. As Shreveport-Bossier s infrastructure continues to grow and expand and new digital media companies are on the rise, economists expect continued economic growth and the creation of additional jobs for skilled workers in the Shreveport-Bossier MSA. Various Locations the Shreveport-Bossier Area Has Doubled For: New York New Jersey Guantanamo Bay, Cuba Portland, Oregon Kodiak, Alaska Miami, Florida Amsterdam Dakar Airport - Senegal, Africa North Pole Bering Sea Los Angeles, California Alabama Maine Fort Jackson, South Carolina Iowa Mississippi Boston Santa Monica, CA Paris, France New Orleans New Hampshire Kansas City, Missouri Texas St. Louis, Missouri Sodom (Biblical City) Oklahoma Memphis Arizona Washington, D.C. Maryland Santa Monica, CA The Amazon Camp Pendleton, CA San Antonio, TX Hollywood South Top Productions Filmed in Shreveport Bossier The Guardian (estimated budget of $70M) Kevin Costner, Ashton Kutcher Mr. Brooks (estimated budget of $20M) Kevin Costner, Demi Moore Mad Money (estimated budget of $22M) Diane Keaton, Katie Holmes, Queen Latifah Playing the Field (estimated budget of $35M) Gerard Butler, Jessica Biel, Dennis Quaid, Catherine Zeta Jones Source: Film Shreveport Bossier

16 MANUFACTURING More than 250 diverse manufacturers, employing over 20,000 people, are located in the Shreveport-Bossier City region. Shreveport is home to the Louisiana Center for Manufacturing Sciences, a research consortium that develops, demonstrates and implements technological innovation in manufacturing sciences. The center focuses on micro-manufacturing capabilities. Dr. Reddy s Laboratories, an emerging pharmaceutical company, began its expansion of its Shreveport facility in Dr. Reddy s Laboratories chose to expand in Louisiana because of the state s strong manufacturing infrastructure, quality workforce and competitive incentives and programs such as Louisiana FastStart TM, which is one of the nation s best state workforce solution programs. Louisiana also provides a low-cost model for manufacturing, is a right-to-work state and has more than 137,000 skilled workers. Additionally, a very positive boost is coming to the Caddo-Bossier Port from three new tenants, Ronpak, Benteler International AG and Elio Motors. Ronpak will finish its $16.8 million facility at the end of 2012 and add 175 jobs to the Port and has proposed to add 132 jobs by the end of 2013 and 275 by the end of Benteler International AG, a German steel manufacturer, plans to open its first U.S. production facility in Caddo Parish in the next few years. There are plans to build a $900 million, two-phase facility at the Port of Caddo-Bossier that would create more than 2,200 permanent jobs. This planned facility would initially encompass a seamless steel tube mill and later include a steel mill on 330 acres at the Port. Additionally, local and state investments plan to fund a new advanced manufacturing training center at Bossier Parish Community College. The $22 million facility would not only benefit Benteler but other manufacturers throughout northwest Louisiana. Elio Motors plans to assemble new vehicles at the former General Motors Shreveport Plant, which will create 1,500 new direct jobs by late 2015 paying an average salary of $47,700, plus benefits, as well as make a capital investment in excess of $100 million. Source: NLEP, LED & Shreveport Times

17 MILITARY Shreveport-Bossier City MSA is home for the 10,284 person Barksdale Air Force Base, an important economic driver for the area with an annual economic impact of $855.7 million. Barksdale Air Force Base is one of the largest military bases in the U.S., covering some 22,000 acres, and one of the largest employers in the Shreveport-Bossier MSA with an annual payroll of $485.3 million. It is the largest (one of just two) bomber base in the world that flies B-52 missions, housing sixty-three B-52 Stratofortress aircraft. Barksdale is also home of the 8th Air Force Headquarters and the 917th Wing, A-10 Thunderbolt II attack jet. Barksdale was recently selected as the Air Force Global Strike Command Headquarters (activated August 7, 2009), which brought 275 of the 900 expected jobs to the region as well as 700 positions that would ultimately secure flight training jobs and the reopening of a weapons storage area. AGRICULTURE Agriculture is a significant contributor to the area s overall economy. Major agricultural commodities in the area include cotton, beef cattle, poultry, horses, soybeans and feed grains, with forestry being the largest agricultural commodity in the region. Source: NLEP, LED & Shreveport Times

18 HEALTHCARE & MEDICAL TECHNOLOGY Shreveport-Bossier is a regional medical center with a variety of nationally recognized healthcare programs and centers of research. There are 21 hospitals, with 3,500 beds and 1,241 physicians, within the three-parish MSA. Shreveport is home to one of the finest teaching hospitals in the South, Louisiana State University Health Science s Center, and the region s primary veteran care facility, Overton Brooks VA Medical Center. Also, the first of 22 Shriner s Hospitals in North America was constructed in Shreveport in 1922, where it provides orthopedic treatment to children free of charge. The Biomedical Research Foundation of Northwest Louisiana serves the region by leading in the expansion and support of enterprises that advance healthcare delivery, medical research and medical technology. The Foundation operates the Virginia K. Shehee Biomedical Research Institute, a $37 million research facility that opened in 1994 with 160,000 square feet and 56 state-of-the art laboratories. The institute houses more than 200 researchers, technicians and support personnel.

19 TOURISM Shreveport-Bossier offers casino gaming, top-name entertainment, fabulous dining and classic southern hospitality. Ranked among the top ten American gaming markets based on gross revenue, the Shreveport-Bossier Convention and Tourism Bureau reports that more than 8 million people visited the area in Shreveport-Bossier has also become a dynamic center for major regional conventions and trade shows since completion of its state-of-the-art Convention Center in The Convention Center offers 350,000 square feet of adaptable space attached to the Hilton Hotel, which has approximately 300 rooms. Listed below are several festivals and parades that Shreveport-Bossier hosts. Krewes of Gemini and Centaur These Mardi Gras Parades are two of the more well-known events, occuring in February and March. The Red River Revel This popular festival in Shreveport-Bossier celebrates the arts with more than 100 visual artists from across the country, three to four performance stages featuring live music and a large area dedicated to providing arts education to children. Mudbug Madness This festival began in 1984 and is now nationally recognized as one of the Southeast Tourism Society s Top 10 Events. This four day event, held every Memorial Day weekend, is located in downtown Shreveport and draws more than 56,000 people a day. It is considered one of the largest and most popular Cajun festivals, featuring unique Cajun cuisine, raucous contests, and renowned Cajun, Zydeco, Blues and Jazz artists. CORK This event has become the premier spring event in the Ark-La-Tex and attracts wine aficionados from across Louisiana, east Texas and southwest Arkansas. Brew This event occurs during Oktoberfest and is a premium beer tasting event that is designed to be a fundraiser for the Red River Revel and Mudbug Madness. Source: Shreveport - Bossier Convention Tourist Bureau

20 TOURISM CONTINUED ARTini This fundraiser for the Bossier Arts Council combines live music, visual art, signature martinis and socializing with a twist. ARTini gives guests the opportunity to bid on original artwork and taste martinis concocted by local restaurants and organizations. Proceeds help fund East Bank Theater, East Bank Gallery, Art-in-Education programming in Bossier schools, Art Walk and a variety of classes and workshops that are held throughout the year. LA State Fair Founded in 1906, the State Fair of Louisiana is a non-profit organization intended to provide an institution to assist in developing the agricultural and industrial resources of Louisiana and for the betterment of its citizens. The State Fair of Louisiana is situated on approximately 157 acres located just off Interstate 20, and is about three miles west of downtown Shreveport. Let the Good Times Roll Festival This annual festival is held the third weekend of June and highlights the music, art and food of the African American culture. The Defenders of Liberty Airshow This event is one of the largest events of its type in the nation and allows Shreveport-Bossier to showcase the home of the B-52, grant access to tour the military installation, view military and aerobatic performers, and support the recruiting arm of our armed forces. Louisiana Boardwalk Louisiana Boardwalk is a half-mile long development that features shopping, riverfront dining and entertainment. By day, the Louisiana Boardwalk is considered an ideal family destination and by night, a thriving bar scene. Shreveport-Bossier Casinos Shreveport-Bossier City s five riverboat casinos and horseracing track at Harrah s Louisiana Downs lend 24-hour excitement to the area. A list of casinos and gaming in Shreveport-Bossier includes: Horseshoe Hotel & Casino, Sam s Town Hotel & Casino, Eldorado Casino & Hotel and Harrah s Louisiana Downs, a horse track and casino. A sixth riverboat casino will be added to the Shreveport-Bossier area from the Lake Charles market. The Isle of Capri is spending $197 million to build a new one-story casino, a 396-room hotel, and a 900-seat art entertainment venue. This new casino will be called Margaritaville and is expected to create about 1,000 jobs.