As always, it was a busy year across many industries in Lafayette and Acadiana.
From retail to banking to food, here is a look at some of the top highlights:
Lafayette’s malls try to overcome challenges
Former Acadiana Mall owner CBL Properties reached an agreement with creditors after defaulting on $126 million in loans. A federal judge named Spinoso Real Estate as the keeper of the property amid foreclosure proceedings. Spinoso was mum about long-term plans for the mall. Despite the closures of stores like Sears, Brookstone, New York and Company – and soon, Gap and Banana Republic – mall representatives said they continue to add stores and attractions and are hopeful about the future.
Meanwhile, Northgate Mall managers were optimistic that new owners would breathe new life into the long-struggling facility. The building got a facelift and new stores moved in. The owners also sought to diversify vacant spaces and discussed using former stores for other purposes, like education, community events and religious services.
RELATED: Louella Cook sees potential in Northgate Mall, north Lafayette
Work starts on new airport terminal
In November, officials broke ground on a new, 120,000-square foot terminal at the Lafayette Regional Airport. Construction on the $80 million-plus project is estimated to take about two years. The new terminal will replace the existing one, which opened in 1930. The project was partially funded through a temporary, one-cent sales tax.
A new airline launches Lafayette flights
In October, Frontier Airlines began direct flights from Lafayette to Denver and Orlando. The flights are on Wednesdays and Saturdays through the spring. However, airline officials said that if demand was there, the flights could eventually expand to more days and more times throughout the year.
RELATED: What Clay Higgins and the Lafayette airport are doing about the long lines
The explosion of Waitr
The Louisiana-based food delivery service continued its rapid expansion in 2018, adding more cities throughout the country to its footprint. In November, the company went public on the NASDAQ. That followed the May announcement that Houston Rockets owner Tilman Fertitta was buying the company for $300 million.
“We went from being a small startup in Lake Charles, Louisiana to winning Pitch BR in 2016 to being a public company traded on the NASDAQ stock market, and we did it by raising money mostly from Louisiana investors,” Waitr founder Chris Meaux told the Greater Baton Rouge Business Report.
RELATED: Sorry, kids. You can't have Waitr bring lunch to you at school.
LAGCOE leaves Lafayette for New Orleans
After 65 years in Lafayette, organizers announced that the biennial LAGCOE oil and gas expo is moving to New Orleans for 2019. Lafayette and Cajundome officials expressed disappointment, but said they would work to find another event to fill those dates in the fall. LAGCOE offices will remain in Lafayette, and representatives said they had not decided on future expo locations beyond 2019.
“We are aiming to evolve and reach a broader audience … We may consider other cities in the future, including returning to Lafayette. For now, we are simply focused on making LAGCOE 2019 the most successful event it can be and provide the most benefit to Louisiana’s energy industry,” LAGCOE Executive Director Angela Cring said.
RELATED: What's ahead for the Cajundome under a new director in 2019?
Private entity makes play for LUS
Bernhard Capital Partners and NextGEN Utility Systems presented a proposal in October to take over management of the city-owned Lafayette Utilities System. Bernhard representatives said they could improve LUS’ efficiencies and financial management. But the Lafayette City-Parish Council balked at the idea, especially when they learned via The Current that Mayor-President Joel Robideaux had signed a letter with Bernhard in April that allowed the company to study LUS operations with the intent of making a management proposal. After a few weeks, Bernhard pulled its proposal when it became clear it didn’t have enough council support to pass.
“Employees of LUS are scared they will lose their jobs. And that’s not right. The fear of the unknown is there. The public is nervous,” Councilwoman Liz Hebert said at one meeting.
IberiaBank consolidates as banking industry changes
Lafayette-based IberiaBank, the largest financial institution headquartered in Louisiana, closed or consolidated 22 branches in the second and third quarters of 2018. These were on top of consolidations that resulted from IberiaBank’s acquisition of Gibraltar Private Bank and Trust, a Florida-based institution. The moves left IberiaBank with 296 locations across the Southeast.
Daryl Byrd, IberiaBank president and CEO, said the new closures were designed to “optimize our branch and ATM network.
“As our clients increasingly use and become more reliant on our digital channels, we continuously review our distribution channels to ensure we are operating efficiently,” he said.
Cypress Bayou Casino Hotel celebrates 25 years
Louisiana’s first land-based casino has remained a mainstay since opening in December 1993. Thanks to expansions and re-developments over the years, the Charenton casino now has five restaurants, more than 1,000 slot machines, 38 tables games and monthly bingo with seating for 1,200 people. The site also boasts a gift shop, hotel, Rox nightclub, Bocat’s Lounge and frequent concerts in the Pavilion.
Lee Michaels celebrates 40 years of business
This year was a milestone for Lee Michaels Fine Jewelry, which marked 40 years in business. It now is one of the largest family-owned jewelry stores, with locations in Louisiana, Mississippi, Texas and New Mexico.
“Anytime I think we are successful, I think we are in trouble,” Lee told The Daily Advertiser. “A business always has room to improve, and I am always asking the question ‘What can I do better?’”
Major Cajun food company expands in Acadia Parish
In December, officials announced that Richard’s Cajun Foods Inc. is expanding its Church Point operations and relocating some production from Wisconsin. The changes are expected to result in dozens of new jobs. It was good news for Acadia Parish, as Richard’s is a well-known producer of Cajun food products that are distributed throughout the country.
“Richard’s has been a staple of our community for many years, as well as a cultural distinction of our Cajun cuisine. An expansion like this would be great for any community. The increase in the company’s production is not just expanding Richard’s brand, but it’s also expanding Church Point’s name through the growth of one of our largest employers,” Church Point Mayor Russell Stelly said.
Read more:
Lafayette innovation board talks funding, cryptocurrency
Lafayette airport likely to experience growing pains in 2019
A look back at the past year in Lafayette Parish education
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