‘Tis the season to celebrate! Everyone is invited to attend our holiday party at Manning’s on December 18th from 5:30–7:30 p.m. Admission to the party is free, and we are offering validated parking at the Harrah’s garage. Drinks and hors d’oeuvres will be served, plus surprise giveaways.
by Rodrick T. Miller, President and CEO New Orleans Business Alliance
New Orleans’ strength is in its historic diversity in population and industry. Historic immigrant communities included French, Spanish, American, and African people. Legacy industries such as trade, oil and gas, manufacturing and tourism have built our strong economic foundation; while emerging industries such as film production, biotech, sustainable industries and digital media are charting our future course.
As Thanksgiving and the holiday season approaches, I am thankful for the innate diversity in our community, however, I know that we must do a better job of including all New Orleanians in our path to economic growth. The unfortunate truth is that New Orleans is one of the least equitable cities in the nation. Although 69% of New Orleans residents identify as a racial minority, our community has the highest income gap between minority and white residents of any major US city. In 2012, one in two of our working-age black men are unemployed. To begin to combat these systemic issues from an economic perspective, New Orleans needs a focused effort to create opportunities for all residents to prosper.[Continue Reading...]
In the Summer 2013 issue of Southern Business and Development, New Orleans ranked #1 of all major cities in the US Southern region for the greatest number of corporate projects between 2003–2012. This positive ranking indicates the strong economic performance of New Orleans in recent years, and its competitive position relative to other major cities in the region for business investment.
In New Orleans, thinking internationally is in our DNA. Our port and geographic position at the mouth of the Mississippi River, skilled local workforce, and transportation infrastructure, have made the city a center of trade for nearly three centuries. President Obama’s visit to the Port of New Orleans last Friday, and the recent news that New Orleans led the nation in exports per capita in 2012, confirms the scale of our opportunity in growing international trade and Foreign Direct Investment (FDI or insourcing companies).
FDI represents one of the best ways to see large-scale increases in jobs, construction, research and development, local purchasing, and reinvestment. Louisiana has had significant success in attracting FDI recently (Sasol’s recent project in Lake Charles), and Southern states as a whole have increased their share of FDI from 33% to 37% between 2003 and 2012. The Michoud Assembly Facility, favorable tax credits, and our burgeoning workforce are key advantages that demonstrate our competitiveness to international companies. Foreign firms like Gameloft are tapping into local creative talent while Blade Dynamics found the perfect manufacturing facility for their needs at Michoud. FDI supports a strong and sustainable economy by: