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Pros­per­i­tyNOLA Update

Since we launched Pros­per­i­tyNOLA in June 2013, we have been work­ing dili­gently with our part­ners in the busi­ness and civic com­mu­ni­ties to make progress toward implementation.

Down­load our Pros­per­i­tyNOLA Strate­gic Advi­sory Com­mit­tee Updates below:

What is ProsperityNOLA?

NOLABA and the City of New Orleans are proud to announce the launch of Pros­per­i­tyNOLA: A Plan to Drive Eco­nomic Growth for 2018. Pros­per­i­tyNOLA is a liv­ing, action­able plan, cre­ated through months of data-driven plan­ning, that will fos­ter Mayor Landrieu’s vision of a diverse, sus­tain­able and pros­per­ous econ­omy for all cit­i­zens. Pros­per­i­tyNOLA envi­sions New Orleans as a city where busi­nesses are eager to invest and grow, but it doesn’t just paint a pic­ture; the plan pro­vides action steps for real­iz­ing this vision. While New Orleans’ growth tra­jec­tory is strong, there are sig­nif­i­cant bar­ri­ers to over­come, as well as fierce com­pe­ti­tion from a glob­al­ized world. This plan aligns proac­tive efforts to make New Orleans more com­pet­i­tive. Our oppor­tu­ni­ties, how­ever, are greater than our chal­lenges. On the cusp of the Tri­cen­ten­nial, New Orleans will be known around the world as the next great city for busi­ness growth and opportunity.

Rodrick T. Miller, Pres­i­dent & CEO of the New Orleans Busi­ness Alliance  and Mayor Mitchell J. Lan­drieu announced Pros­per­i­tyNOLA and the impacts it will have on New Orleans econ­omy at the June 10 roll­out luncheon:

The Process

More than 200 stake­hold­ers from busi­ness, gov­ern­ment, edu­ca­tion and phil­an­thropy, as well as the broader eco­nomic devel­op­ment com­mu­nity, came together to cre­ate Pros­per­i­tyNOLA. Through a data-driven process, the plan’s Strate­gic Advi­sory Coun­cil selected five key eco­nomic clus­ters where New Orleans has strengths, oppor­tu­ni­ties, and a tra­jec­tory for growth.

See below for a short video describ­ing this process, the stake­hold­ers involved in the devel­op­ment of ProsperityNOLA:

A Clus­ter Based Approach

Pros­per­i­tyNOLA has taken place in three phases. In the first phase, NOLABA com­mis­sioned the Ini­tia­tive for a Com­pet­i­tive Inner City (ICIC), the Harvard-based non­profit research and strat­egy orga­ni­za­tion and lead­ing author­ity on inner city economies, to develop a body of data to serve as the base­line for the plan­ning process. The sec­ond phase took place from Octo­ber 2012 through May 2013, and in it NOLABA con­vened a Strate­gic Advi­sory Coun­cil of 75 stake­hold­ers from a diverse cross-section of New Orleans to out­line a strate­gic focus for the city, focus­ing on five indus­try clus­ters. The third phase, which is start­ing now, is implementation.

The base­line research from the first phase iden­ti­fied thir­teen indus­try clus­ters in New Orleans. Over the course of three meet­ings, the Strate­gic Advi­sory Coun­cil was informed by pre­sen­ta­tions of the base­line research and com­men­tary from indus­try experts for each clus­ter. The Strate­gic Advi­sory Coun­cil then pared the thir­teen clus­ters down to five, based on which of the clus­ters would gen­er­ate the most qual­ity jobs and have the great­est poten­tial to impact the city’s com­pet­i­tive­ness. The selected clus­ters are a com­bi­na­tion of his­toric clus­ters that have served as the foun­da­tion of New Orleans’ econ­omy and emerg­ing clus­ters that rep­re­sent a strong poten­tial for growth. The Strate­gic Advi­sory Coun­cil selected this mix of clus­ters to empha­size the need to lever­age the city’s strengths while diver­si­fy­ing the economy.

NOLABA chose this frame­work for this strate­gic plan­ning process because cluster-based growth has sev­eral advan­tages over eco­nomic devel­op­ment activ­i­ties that focus solely on attract­ing or grow­ing sin­gle com­pa­nies. This cluster-based process is also in align­ment with recent efforts at the state and regional lev­els, which have devel­oped focused strate­gies based on a set of foun­da­tional and emerg­ing clus­ters with poten­tial for growth.

The pri­or­i­tized clus­ters are:

  • Advanced Man­u­fac­tur­ing
  • BioIn­no­va­tion and Health Services
  • Cre­ative Dig­i­tal Media
  • Sus­tain­able Industries
  • Trans­porta­tion Trade & Logistics

 

See below for a short video detail­ing each of the five pri­or­ity indus­try clusters:

The Result

Pros­per­i­tyNOLA iden­ti­fies imple­men­ta­tion strate­gies and spe­cific action steps. This includes a list of indi­vid­u­als and orga­ni­za­tions respon­si­ble for imple­ment­ing and mon­i­tor­ing progress and time­lines for track­ing progress. Numer­ous indi­vid­u­als and part­ners have signed on, agree­ing to hold them­selves account­able for con­tribut­ing to the suc­cess and imple­men­ta­tion of this plan.

Read the Exec­u­tive Sum­mary of Pros­per­i­tyNOLA online:

Down­load the PDF ver­sion of the Exec­u­tive Sum­mary here.

Read the full ver­sion of Pros­per­i­tyNOLA online:

Down­load the PDF ver­sion of Pros­per­i­tyNOLA here.

 Next Steps

The vision in Pros­per­i­tyNOLA is, on the Tri­cen­ten­nial, to have a more inclu­sive and diverse econ­omy that is equi­table, with more oppor­tu­ni­ties to par­tic­i­pate in mul­ti­ple indus­tries. Pros­per­i­tyNOLA pro­vides the path for New Orleans to become an inter­na­tional thought leader in water man­age­ment and coastal restora­tion. The city’s work­ers will build inno­v­a­tive prod­ucts and engi­neer new man­u­fac­tur­ing processes. New med­ical cen­ters will pro­vide world-class care to not only the city’s res­i­dents, but to the nation’s vet­er­ans, and patients around the world who seek spe­cial­ized care. With the con­tin­ued engage­ment of the busi­ness com­mu­nity, com­pa­nies will be able to access the cap­i­tal they need – not only when they’re just start­ing out, but when they are ready to grow.

The city is ready for Pros­per­i­tyNOLA. Lead­er­ship from the Mayor and the eco­nomic devel­op­ment com­mu­nity is at an all-time high. In five years, New Orleans can be rec­og­nized as a trans­for­ma­tive econ­omy where there are oppor­tu­ni­ties for eco­nomic par­tic­i­pa­tion, where the pub­lic and pri­vate sec­tors are aligned to tackle issues and cre­ate oppor­tu­nity, and where busi­nesses and res­i­dents prosper.

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