10 PARISHES Jefferson

Orleans Plaquemines

St. Bernard St. Charles

St. James St. John the Baptist

St. Tammany Tangipahoa Washington

JUNE 2020 INVESTOR BRIEFING CALL Date: June 19, 2020 9am Join Zoom Here

I. Welcome Sara Bradford, Director of Investor Relations

II. Coronavirus Updates Rachel Shields, Chief of Staff Reopening – Phase 2 Status Task Forces

• Louisiana Economic Recovery • Resilient LA Commission – Economic and Community Development • City of New Orleans Data Task Force

Assistance & Legislation (incl. PPP & Main Street) Ileana Ledet, VP of Public Policy Strategic Opportunities Shields

• Business Development • Talent Attraction

III. GNO, Inc. Regular Business Digital Media Alliance 2.0 Josh Tatum, Program Manager Legislative Session + Special Session Ledet Inclusive Wealth-Creation: GNO, Inc. Action Hyma Moore, VP of External Relations

• White House/HBCU Entrepreneurship Partnership • NOLAVATE Black/Black Tech NOLA • Urban League – Corporate Strategies

IV. Upcoming Events Shields

• HBCUs: Engines for Black Entrepreneurship, 6/23 • Black Tech NOLA, 6/29-7/1 • NGC Virtual Day at the Capitol, TENT 7/21-22

V. Opportunity for Questions Shields/Bradford

Learn more at gnoinc.org View this email in your browser

This morning, The Advocate/Times-Picayune/NOLA.com shared an article written by GNO, Inc. President and CEO Michael Hecht on the economic future of our region. This piece can be seen in full below:

This is how Greater New Orleans can benefitfrom post-coronavirus economic change

The global economy is changing because of the coronavirus. In Greater New Orleans, if we act today, these changes can work to all of our benefit tomorrow.

For starters, there will be an opportunity for more well-paying manufacturing jobs in the region, as companies repatriate their supply chain. The old strategy was to reduce costs by outsourcing, especially from China; that dependency has now been shown to be a potential expensive weakness. Louisiana, with its experience and logistical advantages, has great potential for reshoring of manufacturing.

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Similarly, technology companies will be bringing programming jobs home from abroad. It’s been discovered during the coronavirus lock-down that domestic techiescould work from home with virtually no interruption. In less developed countries, thishas proven to be difficult. Greater New Orleans — already one of the fastest-growing tech communities in the country — should be a top destination for technology reshoring.

Within technology, specializations where greater New Orleans is already strong are going to boom. Video games are hot and have grown 65% year-on-year. Augmented reality, which allows people to virtually “touch” items, is going to grow. We also have opportunities at the confluence of music and technology, which is a focus of GNO, Inc.’s “New Orleans Music Economy” initiative.

Retail has seen a decade of change condensed into two months and is now dominated by logistics.

Going forward, stores will become more like fulfillment centers, with people browsing online, and then picking up curbside or enjoying home delivery. With our river, ports, six class-1 railroads, and extensive highway system, greater New Orleans is an excellent location for the logistics hubs that will power this trend.

There will be other opportunities borne of our logistical capabilities. For example, frozen foods and premade meals have both grown during the crisis, and this development is expected to continue into the future. Greater New Orleans hasfamous cuisine, vast access to agriculture, and some of the biggest cold-storage capacity in America, making it is a natural location for value-added food manufacturing.

As it has many times, the energy industry will respond to current challenges by using technology and innovation to become more efficient. For example, while platforms will remain manned, enhanced remote monitoring will increase safety and reduce costs. This change will create an opportunity for Louisiana companies to lead theinnovation and support the next phase.

And it goes without saying that the health care industry is evolving as a result of thecoronavirus, particularly in two areas: infectious disease and telemedicine. Our institutions already are at the forefront here, with local universities and hospital systems leading the way in treating COVID-19 and partnering with the private sectorfor better health outcomes.

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Finally, just as we saw post-Katrina, expect a surge of entrepreneurship in greater New Orleans. If necessity is the mother of invention, then the needs of living and working in the post-corona “new normal” will drive a wave of innovation fromstartups. The success of GNOpivot, which has seen dozens of local companies rapidly changing their business models to meet community need while driving new revenue streams, testifies to this entrepreneurial spirit.

What are the local actions we must take in order for the region to be prepared for these global changes and the opportunities they present? With safety as a theme, we must commit to marketing the region and telling the world that greater New Orleans is open for business and leisure. We must also continue to bolster our business-friendly environment, which encompasses everything from tax climate to infrastructure to overall quality of life. Finally, at all levels, we must fully commit to education. If our people are educated, trained, and upskilled, they will be able to take advantage of the broad range of economic opportunities our region is uniquely positioned to secure.

We know change is coming, and with it, opportunity. Let’s take the actions today that will ensure economic diversity, well-paying jobs and a better quality of life, for tomorrow.

You can access this submission online here.

Our mailing address is:Greater New Orleans, Inc. 1100 Poydras Street Suite 3475 New Orleans, LA 70163 USA

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CORONAVIRUS SBA LOAN

FEDERAL RESERVE CORONAVIRUS LOAN

Paycheck Protection Program Main Street Lending Program

Source of Funds Private Bank, CDFI, or Other Federal Reserve Bank

Eligibility Businesses, 501(c)(3)s with less than 500 employees; self-employed, independent contractors, sole proprietors; food & accomodation sectors size standards per location; in operation Feb. 15, 2020

15,000 or less employees or annual revenue less than $5 billion in revenue

Loan Uses Payroll, mortgage interest, rent, utilities, interest on existing debt

TBD. "Reasonable efforts to maintain payroll and retain workers"

Loan Terms 5-year term 5-year term, two-year deferment, LIBOR + 3% interest

Loan Max Amount $10 million $250,000 minimum - $300 million maximum

How to Apply/Deadline Contact local lender; until June 30, 2020 Coming soon, ask your bank if participating; September 30, 2020 deadline

How Long for Approval One week + TBD

Who Should Consider Businesses that need to make payroll or retain staff funding

What to Know Only loan that’s forgivable – but portion of loan used on payroll must now be at least 60% in order to be fully forgiven, must maintain payroll

Prohibitions on stock buybacks or paying dividends for certain time period; executive compensation limits

Website sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp

federalreserve.gov/monetarypolicy/mainstreetlending.htm

CORONAVIRUS LOAN COMPARISON

NOTES Combining Loans: In general, you can use these programs together, as long as it is not for the same purpose at the same time (i.e., no “double dipping”).

This chart is for guidance only; please consult your tax professional for formal advice.

Greater New Orleans, Inc.1100 Poydras Street, Suite 3475New Orleans, LA 70163

Phone: 504.527.6900Fax: 504.527.6970

Web: www.gnoinc.orgEmail: info@gnoinc.org

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Business Development Post-Corona Strategic Opportunities

June 2020 Business Development

• Professional Jobs o Reshoring project bringing 90 jobs in finance, accounting, and customer support

back to US. Louisiana provides low cost market with high quality workforce • Logistics

o Opportunity in food logistics, preparation and markets leveraging key logistical advantages and cold storage capacity

• Manufacturing o Two PPE manufacturing projects to supply regional and national market. Other

opportunities exist in products impacted by shutdown of international supply chains • Technology

o Growth opportunities for existing videogame studios and active projects with other technology companies that need to bring workforce back to US market

Business Reshoring

• Proposals to capitalize on onshoring of key sectors: manufacturing, value-add, service industries, etc.

Talent Attraction

• Relaunch of DestinationGNO web tool o Complete overhaul of quality of life website to attract talent and educate

newcomers on lifestyle options across the 10-parish region. Highlights include neighborhood finder and HR portal to customize relocation collateral

• Targeted Social Media/Paid Ad Campaign

o Building upon our Deja Vieux campaign during Mardi Gras, we are working with FSC Interactive to target millennial talent and Louisiana alumni and natives on the new opportunities in New Orleans. Focus on NYC and San Francisco markets.

• Remote Worker Incentive

o Incentive for Greater New Orleans expats who graduated either high school or college in the region and have ability to work remotely with current company. The fund would include possible stipend and co-working space, cultural discounts, and other perks to those who commit to moving, working and living full time in Greater New Orleans region.

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Louisiana Digital Media Alliance Framing Document

June 2020

Vision

A Greater New Orleans and Louisiana with a vibrant job- and wealth-creating technology and digital media industry that is informed, engaged, and unified - providing opportunities for a diverse range of citizens, companies, entrepreneurs, innovators, and investors. Positioning Statement

To those who work in the technology and digital media field, and those who report and care about it, the Louisiana Digital Media Alliance is the go-to organization for information, influence and a centralized voice that can speak on behalf of companies and employees. What LDMA will do:

1) Business Development: Highlight the Greater New Orleans and Louisiana value proposition, to a global audience, as a place for technology companies to expand, relocate and grow their business2) Promote: Create and maintain a public relations and media strategy to highlight

the technology success stories and grow the technology brand of Greater New Orleans and beyond 3) Influence: Advocate for public policies and programs that support

technology and digital media across Louisiana 4) Educate: Develop relevant curricula to create work-ready talent

pipelines into local companies 5) Connect: Provide resources and guidance on changes in the

technology industry; support and connect members to industry relevant activities, including events, conferences, education and training opportunities

What LDMA will not do:

Serve any particular company or industry segment exclusively. The LDMA‘s efforts will support the broadest range of the industry possible, seeking systemic impact Provide direct services to digital media companies or individuals

2020 Regular Legislative Session

The following bills impacting economic development were passed in the 2020 Regular Legislative Session. They now go to the Governor’s desk where he may sign them, allow them to go into law without his signature, or veto them. Liability Protection GNO, Inc. supported a set of bills limiting liability for businesses and other entities from coronavirus-related claims. HB826 (Pressly) states that no person shall be responsible for civil damages from exposure to COVID-19 in the course of business, unless there is evidence of gross negligence and they were not in substantial compliance with applicable safety procedures. Also headed to the Governor’s desk is SB491 (Hewitt), which provides liability protection for businesses that have pivoted to producing and distributing personal protective equipment (PPE). Along with SB435 (Abraham), which is similar to Rep. Pressly’s bill, and SB508 (McMath), which applies to restaurants providing takeout, each of these measures had overwhelming support in the Legislature. Economic Development

PILOT bills - SB272 and SB396 (Abraham) authorize and provide for local entities to receive funding from a company in exchange for later reducing the company’s property taxes (i.e. payments in lieu of taxes, or PILOTS). Negotiations between locals and companies would be voluntary and also include a public hearing before any agreement is finalized. SB272 is a constitutional amendment which will go to voters statewide for their approval.

ITEP-Ready Designations – HCR4 (Beaullieu) gives locals a new “ITEP Ready” option for the Industrial Tax Exemption Program (ITEP). In parishes with the “ITEP Ready” designation, ITEP applicants would not need to appear before each local taxing authority to receive exemption approval. New hiring incentive – HB846 (Wright) provides incentives for certain businesses that hire and rehire employees. The program is modeled after the Quality Jobs Program and offers a six percent payroll rebate to companies that create five new jobs paying at least $40,000. Eligibility requirements include that the business is a restaurant, hotel, or retail establishment with 50 or fewer employees that creates the new jobs between May 15, 2020 - December 31, 2021. The rebate applies only to the first $500,000 of payroll and a company can apply for the rebate at the end of their fiscal year, or the date that the hiring and payroll thresholds are met. Business Coronavirus Relief Main Street Recovery Fund - SB189 establishes a Louisiana Main Street Recovery Fund, providing $300 million in grants for small business. Eligible businesses will be able to apply for $15,000 grants beginning July 1. Eligibility requirements include that an applicant has suffered from interruption of business and had no more than 50 full time employees as of March 1, 2020.

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Corporate Franchise Tax Temporary Suspension - HCR66 (Bishop) suspends the lower tier of the corporation franchise tax levied on domestic and foreign corporations and the initial tax levied on certain business entities subject to the corporate franchise tax. The measure suspends the franchise tax for the first $300,000 in taxable capital. Legal Climate

Auto Insurance – GNO, Inc. supported the Omnibus Premium Reduction Act, SB418 (Talbot), which includes numerous provisions aimed at lowering auto insurance rates, including lowering the jury trial threshold from $50,000 to $10,000, removing the direct action statute, allowing evidence of seat belt use to be admitted as evidence, revising the collateral source rule, and extending the prescriptive period from one year, to two years for certain cases. It also includes a provision for a 10 percent rate reduction for personal and commercial auto insurance.

Personal injury claims - HB597 (Nelson) eliminates the presumption that an injury was caused in an accident if there is a lack of prior records of that injury. The lack of a prior history of an illness or injury shall not create a presumption that an illness or injury was caused by the act that is the subject of the claim. Education Early Childhood Commission – HB251 (Hilferty) recreates the Early Childhood Care and Education Commission which has studied the availability and challenges of early childhood education. The law creating the commission sunsetted, and this measure extends the commission through July 1, 2022. Fee-setting flexibility – GNO, Inc. supported HB689 (Zeringue), which allows public colleges to have continued flexibility in setting fees, either increases or decreases. Public universities have had this ability for a few years; this bill continues their authority to adjust student fees through the 2022-23 school year. Expanding access to dual enrollment - A measure supported by GNO, Inc., HB734 (Brass), takes the first steps towards creating a grant program to increase capacity for dual enrollment programs, which enable high school students to earn college credit. Easing transcript availability - HB676 (Emerson), supported by GNO, Inc., provides public university management boards the option of prohibiting transcript holds for students who have outstanding debt. The intent of the bill is to clear hurdles for individuals who need to provide a transcript to a potential employer, or if they have decided to return to school. The bill also establishes the ability for schools to put students on a means-tested payment plan. It does not absolve a student’s debt responsibility. Coastal Protection and Restoration GNO, Inc. supported HR19 (Zeringue), which approves the annual state coastal protection plan for Fiscal Year 2021, as adopted by the Coastal Protection and Restoration Authority.

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2020 Louisiana Legislature Special Session

While the budget is the primary measure that legislators must approve during the special session, the call lists 41 items, including the corporate franchise tax, state incentive programs, sales tax collection and limited tort reform. The special session must adjourn by June 30. Below is a list of some of the bills that GNO, Inc. is monitoring and/or supporting. Taxes and Tax Credit Programs Centralized Sales Tax – HB14 (Schexnayder) authorizes the Legislature to provide for centralized collection of sales tax. Corporation Franchise Tax Temporary Suspension – HB17 (Bishop) suspends the lower tier of the corporation franchise tax (first $300,000 of taxable capital) on domestic and foreign corporations and the initial tax levied on certain business entities subject to the franchise tax through 2024. SB6 (Allain) is similar except for businesses with less than $1 million in taxable capital. (This measure was passed as HCR66, in the regular session.) Historic Tax Credit (HTC) – HB4 (Magee) extends the Historic Tax Credit from 2022 to 2028 and was one of the first bills of the special session to clear the House floor. Angel Investor Tax Credit – SB17 (Hewitt) extends the Angel Investor Tax Credit Program from 7/1/21 to 7/1/23. Digital Media Tax Credit – HB52 (Coussan) increases the amount of the Digital Media credit from 18% to 20% with additional 2% to be used for training new employees; expands credit to include IT services provided in cybersecurity, cloud engineering and data analytics. Enterprise Zone – HB13 (Wright) expands Enterprise Zone credit to restaurants, retail, and hotels through 2025. Quality Jobs – HB19 (Pressly) expands Quality Jobs Program to retailers, hotels, and restaurants. Research & Development Tax Credit – SB4 (Foil) extends the R&D credit from 12/31/21 to 12/31/25. PILOTs – HB23 and HB28 (Dwight), referred to as the Stimulate Investment to Maximize Parish and Local Economies (SIMPLE) plan, would allow all commercial businesses to enter into cooperative endeavor agreements for payments in lieu of taxes (PILOT). Legal Climate Auto Insurance – HB44 (Garofalo) reintroduces the Omnibus Premium Reduction Act which includes reducing the jury trial threshold to $5,000, reforms the collateral source rule and the direct action statute, repeals seatbelt gag rule, extends the prescriptive period to two years for

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motor vehicle accidents and requires a 10% rate reduction for personal and commercial auto insurance. HB57 (Schexnayder) is similar, reducing the jury trial threshold to $10,000, and allowing evidence of medical expenses paid to be introduced in court. Two measures, SB14 (McMath) and HCR4 (Seabaugh) address provisions included in the Omnibus Premium Reduction Act of the Regular Session, relative to collateral source. Higher Education & Workforce Identify workforce training needs - SB15 (Reese/Wright) requires a short-term COVID occupational forecast be produced and approved by September 30, 2020, to identify time-sensitive workforce training and education needs. It will include data from sources including the Louisiana Workforce Commission (LWC), LED and input of regional EDOs. COVID-19 Workforce Training Response - HCR12 (Garofalo) is a joint legislative resolution directing the LWC and the Board of Regents to cooperatively study and report on innovative ways to coordinate and deploy opportunities for retraining and developing new skills for Louisiana workers unemployed due to COVID-19. The study is due to the Legislature by September 30, 2020, and requires at least three public meetings. The report must include an evaluation of funds and programs that may address this challenge. Fee Flexibility – HB26 (Zeringue) allows public colleges to have continued flexibility in setting fees, either increases or decreases. Public universities have had this ability and this bill continues their authority to adjust student fees through the 2022-23 school year. Broadband & Infrastructure Rural Broadband – SB10 (Mizell) requires each rural electric co-op to report annually to the Legislature on progress made in deploying broadband high-speed internet access to its members. Co-ops will report information including number of applications received from broadband operators, number of applications approved, and impediments to providing high-speed internet access to unserved areas. Infrastructure - SCR4 (Foil) requests a study of the feasibility of a tax credit program as a funding mechanism for public-private partnership investment in Louisiana infrastructure projects.

EXPLORE POSSIBILITIES

EMERGING TECH SOUTH