Louisiana sees 70 H-1B petitions from employers classified under the Finance and Insurance industry during 2024

Louisiana sees 70 H-1B petitions from employers classified under the Finance and Insurance industry during 2024

Economics
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Ur Mendoza Jaddou, Director of the U.S. Citizenship and Immigration Services. | https://www.uscis.gov/about-us/organization/leadership/ur-m-jaddou-director-us-citizenship-and-immigration-services

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Employers classified under the Finance and Insurance industry based in Louisiana submitted 70 H-1B petitions during 2024, according to data provided by the U.S. Citizenship and Immigration Services via the H-1B Employer Data Hub.

Of these, 69 were approved (98.6%), while one was denied (1.4%).

Employers are classified under industries based on their reported operations and may be involved in multiple industries.

The H-1B visa program allows U.S. employers to temporarily hire foreign workers in specialty occupations requiring specialized knowledge and at least a bachelor’s degree or equivalent. It is designed to address skill gaps in the U.S. workforce while ensuring wage standards to protect both U.S. and H-1B workers. Employers must certify that they will pay H-1B workers wages equal to or greater than those of similarly qualified U.S. employees or the prevailing local wage.

The average approval rate for H-1B petitions across the United States in 2024 stood at 98%, higher than 2023's 97.3%. Statewide, Louisiana employers across all industries submitted 1,063 petitions during the same period, achieving an approval rate of 98.3%.

The Educational Services industry led the H-1B filings in Louisiana during 2024, with 413 petitions (38.9% of all submissions), and an approval rate of 98.1%. Meanwhile, the Health Care and Social Assistance industry was the second largest contributor, filing 181 petitions (17% of the total), with an approval rate of 98.3%.

The Louisiana employers which made the most petitions in the Finance and Insurance sector during 2024 included Republic Finance, LLC with 28 petitions, First Horizon Bank with 24 petitions, and Louisiana Health Service and Indem with four petitions.

Compared to 2023, the Finance and Insurance sector in Louisiana saw a 100% increase in the number of H-1B petitions during 2024.

The United States admits around 1 million legal immigrants annually, most of whom receive permanent residence (green cards) through family sponsorship or employment-based visas. In 2023, about 1.2 million immigrants were granted green cards, a return to pre-pandemic levels. Temporary visa programs, such as the H-1B for highly skilled workers and H-2A for seasonal agricultural workers, also play a critical role in filling workforce needs.

Public opinion on immigration varies, with 46% of Americans favoring maintaining current legal immigration levels, according to a 2024 Pew Research Center survey. Additionally, 42% believe that highly skilled workers, such as scientists, doctors, and programmers, should be prioritized for legal immigration, compared to 25% who prioritize workers filling labor shortages and 19% who emphasize family sponsorship. Despite this, family sponsorship remains the most common path to permanent residency, accounting for 63% of green cards issued in 2023.

The data in this article comes from the H-1B Employer Data Hub provided by the U.S. Citizenship and Immigration Services (USCIS). While USCIS strives for accuracy, manual data entry and errors on paper forms submitted by applicants or petitioners may result in discrepancies in employer names, tax IDs, locations, or other details.

H-1B Petitions by Industry in Louisiana, 2024
RankIndustryTotal Petitions% of All Submissions% Approved% Denied
1Educational Services41338.9%98.1%1.9%
2Health Care and Social Assistance18117%98.3%1.7%
3Professional, Scientific, and Technical Services11410.7%97.4%2.6%
4Information1049.8%100%0%
5Administrative and Support and Waste Management and Remediation Services706.6%100%0%
5Finance and Insurance706.6%98.6%1.4%
7Manufacturing393.7%97.4%2.6%
8Utilities201.9%100%0%
9Public Administration100.9%100%0%
10Transportation and Warehousing80.8%100%0%
11Construction70.7%100%0%
11Retail Trade70.7%85.7%14.3%
13Arts, Entertainment, and Recreation50.5%80%20%
13Mining, Quarrying, and Oil and Gas Extraction50.5%100%0%
15Wholesale Trade40.4%100%0%
16Accommodation and Food Services30.3%100%0%
17Real Estate and Rental and Leasing10.1%100%0%
17Other Services (except Public Administration)10.1%100%0%
17Agriculture, Forestry, Fishing and Hunting10.1%100%0%

Top Employers in Finance and Insurance Industry in Louisiana, 2024

RankCompany NameTotal Petitions% Approved% Denied
1Republic Finance, LLC28100%0%
2First Horizon Bank24100%0%
3Louisiana Health Service and Indem4100%0%
4Pan American Life Insurance Company3100%0%
4Advantage Capital Corporation3100%0%
6Crescent Bank2100%0%
6Mobiloans, LLC2100%0%
8Rodco Worldwide, Inc.10%100%
8Efcu Financial Federal Credit Unio1100%0%
8Crescent Bank & Trust1100%0%
8Louisiana Health Service & Indemnity Company1100%0%

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