- Associated Press - Tuesday, March 29, 2016

HOUMA, La. (AP) - Slumps in oil prices have meant slumps in economic activity and tax revenues for oil-industry-dependent areas such as Terrebonne Parish.

Now, the Terrebonne Economic Development Authority is set to begin developing an economic diversification plan.

Katherine Gilbert-Theriot (TEHR’-ee-oh) is the authority’s business and retention director. She tells The Houma Courier (https://bit.ly/1LVeQmT ) that the plan is not an effort to abandon oil and gas.

It will, however, seek to pair the area’s numerous businesses — such as manufacturers and machine shops — with other industries. The hope is to better prepare the parish so that any future dips in oil prices don’t cause as much economic pain in the parish.

The authority will work with Atlanta-based Garner Economics to develop an economic course for the parish over the next five years.

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Information from: The Courier, https://www.houmatoday.com

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