Oct 21, 2013 6:55 PM by LAGCOE Generates Wealth for Lafayette

LAGCOE Generates Wealth for Lafayette

Oil and gas personnel from around the world are pouring into Lafayette this week for this year's LAGCOE expo.

More than 15,000 visitors are expected to attend the event at the Cajundome and convention center.

The Expo has 416 industry experts coming to share the best their industry has to offer.

LAGCOE Chairman Steve Maley says he expects attendees from 46 states and 37 different countries.

"Lafayette has been an important spot for the oil industry for the last 60 years, and we're trying to make sure it is for the next 60 years," says Maley.

Lafayette Economic Development Authority (LEDA) President Gregg Gothreaux says the expo helps boosts the local economy.

"It's really beyond a trade show for the industry," says Gothreaux. "It presents an opportunity for Lafayette and Acadiana to show itself off."

LEDA estimates 10,000 people will pass through the doors of the expo each day, spending $5.5 million in directly into the Lafayette community. The convention is expected to generate a total of $10.5 million, with $2.4 million as income paid to Lafayette Parish employees.

Visitors to the expo spend an average of $237 a day on everything from retail to restaurants to entertainment.

Hilton Lafayette Hotel General Manager Jimmy Thackston says 80 percent of his 327 rooms are rented out to LAGCOE attendees during the show.

"LAGCOE is like the Super Bowl coming to town every two years," says Thackston. "It is that much of a demand generator to a city who has a limited supply of hotel rooms."

Hotels stand to earn $2.1 million during the show, according to LEDA estimates.

Gothreaux says the expo also generates 81 year-round jobs in the community.

For the first time, the expo will hold a job fair on Thursday for those searching for a job in the gas and oil industry.

LAGCOE begins tomorrow and runs through Thursday.



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