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