Research Summary

Research was conducted through a survey to find out how eye doctors in Lafayette communicate with each other for referrals and for keeping up with whats going on in the offices. Market research was conducted through the Lafayette Economic Development Authority to find out business incentives, location possibilities, and competition spending and earnings. Primary Research Quantitative Research Through the use of a survey (see survey) conducted in person to a convenience sample of ophthalmologists and optometrists in Lafayette. Using Likert Scale and Rank Questions, it was decided that referral relationships are most based on location and skill. Through the surveys, it is shown that doctors keep up with referral relationships through e-newsletters, for these are the most convenient for these doctors. Printed newsletters were said to be used the most often when searching for new referrals. Next in line was other (referral letters, emails, phone calls) as ways to refer a doctor. The surveys were conducted by each team member and in person with either the doctor or representative of the office. The sample was chosen out of convenience. We all attempted to conduct the survey with each office, though some refused to participate or the time was inconvenient for them. The survey was conducted out of confidentiality for Dr. Couvillion and his intentions. The margin for error was set at .687 (see Stats/SPSS). Market Research A Retina (Vitreo-Retinal) Specialist is an ophthalmologist who after completing medical school, internship and residency has completed a fellowship to subspecialize in the treatment of diseases of the vitreous and retina such as retinal detachments and macular degeneration. What is a retina specialist?. (n.d.). Retrieved from http://www.retinabatonrouge.com/what-isa-retina-specialist.html Lafayette has the 4th best job growth and the 54th lowest cost of doing business in the 398 metro areas in the U.S. In a separate article, Lafayette was recognized as having the highest five-year income growth out of all metros. Forbes, May 2012 Top 25 best place to find a job and live. Southern Living, March 2012

Lafayette Parishs per capita income is $47,060 per every man, woman and child. Thats in the top 9% of all counties nationwide! Lafayettes Cost of Living index, 98.2%, falls below the national average. Lafayette has exceptionally low cost of utilities (82.5%) and healthcare (85.9%) in the index. Louisiana has no state property tax. In the City of Lafayette, the property tax millage is 102.44 mills, the lowest of the eight main metro areas in the state. For property in unincorporated areas of the parish, the total millage is 85.89 mills. LASIK eye surgery, a procedure which has become common practice among ophthalmologists all over the world, was pioneered in Lafayette by Dr. Leon C. LaHaye, giving eye doctors in Lafayette a jump start in publicity. Though the energy industry is still the overall economic driver in the Lafayette region, growth in the healthcare industry has attracted workers at all levels. The healthcare industry has become the largest single employment sector in Lafayette, employing an average of 14% of the population, or roughly 23,292 workers, in six major hospitals and numerous support facilities. Since 2001, average industry employment has grown by more than 4,000 workers, reflecting the growth of the industry and increased demand for services. Colligan, D. Lafayette Economic Development Authority, (2012). Lafayette, Louisiana: Medical Hub of the Region Consumer Spending Patterns in Lafayette Healthcare: Medical Services: 2013 Aggregate Expenditure Estimate (in 1000s): 192,973 % Comp: 4.53 2018 Aggregate Expenditure Estimate (in 1000s): 222,520 % Comp: 4.67 2013 Annual Average/HH: 2,144 2018 Annual Average/HH: 2,352 Average Annual Percent (%) Growth: 3.06 Lafayette Economic Development Authority, (2013).Consumer Spending Patterns: Lafayette Parish Nielson.

Business Incentives Local Incentives Restoration Tax Abatement Grants a 5-year deferred assessment of the ad valorem property taxes assessed on renovations and improvements with an option for a second 5-year exemption to Commercial property owners and homeowners who expand, restore, improve, or develop an existing structure in a qualifying district. Industrial Property Tax Exemption Provides new and expanding manufacturing operations with an exemption of local property taxes on new construction or additions to existing buildings and/or the purchase of permanently fixed equipment and machinery for a period of 5 years (with an additional 5 year option). After-hours planning, inspection & permitting: Larry Manuel, Building Official - (337) 349-5701 Rodney Richard, Chief Building Inspector - (337) 896-0231 or (337) 349-5702 John Broyles, Permit Supervisor - (337) 322-0734 State Incentives NOTE: A number of these programs require an Advanced Notification form and fee be submitted to Louisiana Economic Development (LED) prior to any construction, renovations, purchases, hiring of employees, etc. If you fail to submit this Advanced Notification, you will not be eligible to participate in the program(s). Quality Jobs Provides a cash rebate as an incentive to encourage Louisiana Vision 2020 traditional and seed clusters industries to locate and/or expand existing Louisiana operations by creating quality jobs and promoting economic development. A construction project, combined with jobs creation, may result in a sales/use tax rebate or investment tax credit. Enterprise Zone A JOBS incentive program that provides Louisiana Income and Franchise tax credits to a business hiring a minimum number of net new employees. Thirty five percent of these new jobs must be filled from one of four targeted groups. A business does not have to be investing money, just creating additional jobs. A construction project, combined with jobs creation, may result in a sales/use tax rebate or investment tax credit.

Industrial Property Tax Exemption Incentive Louisiana's original incentive program, for capital investments, and is for manufacturers only (as identified by the federal government with NAICS codes that begin with 31, 32 or 33). It may be used by manufacturers new to the State as well as new investments and miscellaneous capital additions to existing facilities in Louisiana. Modernization Tax Credit Program Provides 5% refundable state tax credit for manufacturers making capital investment to modernize or upgrade existing facilities in Louisiana. Lafayette Economic Development Authority, (2012).Expanding: Programs and Incentives for Expanding. Retrieved from website: www.lafayette.org Lafayette Demographics The population in this area is estimated to change from 221,578 to 227,680, resulting in a growth of 2.8% between 2010 and the current year. Over the next five years, the population is projected to grow by 4.4% The number of households in this area is estimated to change from 87,027 to 90,009, resulting in an increase of 3.4% between 2010 and the current year. Over the next five years, the number of households is projected to increase by 5.1%. The number of households in the United States is estimated to change from 116,716,292 to 119,206,509, resulting in an increase of 2.1% between 2010 and the current year. Over the next five years, the number of households is projected to increase by 3.5%. The average household income is estimated to be $68,414 for the current year, while the average household income for the United States is estimated to be $69,637 for the same time frame. The average household income in this area is projected to change over the next five years, from $68,414 to $70,382. The average household income in the United States is projected to change over the next five years, from $69,637 to $71,917. For this area, 93.7% of the labor force is estimated to be employed for the current year. Lafayette Economic Development Authority, (2013).Executive Summary 2013: Lafayette Parish Nielson