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  • Bring New Orleans Back Commission

    Post-Katrina Economic Redevelopment Plan

    New Orleans, Louisiana January 2006

    Document Version 4.1

    {N1448900.1}

  • BNOB Commission: Economic Redevelopment Plan January 2006

    TABLE OF CONTENTS

    Executive Summary ........................................................................................................................ 4 OVERARCHING NEEDS ......................................................................................................... 4 NEW ORLEANS INDUSTRY BRIEFS .................................................................................... 7

    Small Business & Entrepreneurship Redevelopment Plan ........................................................... 11 OVERVIEW (Pre-Katrina)....................................................................................................... 11 KATRINAS IMPACT (Current State) .................................................................................... 11 REDEVELOPMENT ACTION PLAN AND REQUIRED ASSISTANCE ............................ 12 SUMMARY.............................................................................................................................. 16

    Hospitality Industry Redevelopment Plan .................................................................................... 17 OVERVIEW (Pre-Katrina)....................................................................................................... 17 KATRINAS IMPACT............................................................................................................. 17 REDEVELOPMENT ACTION PLAN AND REQUIRED ASSISTANCE ............................ 18

    Hospitality Infrastructure Stabilization......................................................................................... 20 SUMMARY.............................................................................................................................. 28

    Bio-Med Industry Redevelopment Plan........................................................................................ 29 INDUSTRY OVERVIEW (Pre-Katrina).................................................................................. 29 KATRINAS IMPACT............................................................................................................. 31 REDEVELOPMENT ACTION PLAN AND REQUIRED ASSISTANCE ............................ 36 SUMMARY.............................................................................................................................. 45

    Maritime Industry Redevelopment Plan ....................................................................................... 46 OVERVIEW (Pre-Katrina)....................................................................................................... 46 KATRINAS IMPACT............................................................................................................. 47 REDEVELOPMENT ACTION PLAN AND REQUIRED ASSISTANCE ............................ 48 SUMMARY.............................................................................................................................. 50

    Oil & Gas Industry Redevelopment Plan...................................................................................... 51 OVERVIEW (Pre-Katrina)....................................................................................................... 51 KATRINAS IMPACT............................................................................................................. 51 REDEVELOPMENT ACTION PLAN AND REQUIRED ASSISTANCE ............................ 52 SUMMARY.............................................................................................................................. 54

    Aerospace & Military Industry Redevelopment Plan................................................................... 55 OVERVIEW (Pre-Katrina)....................................................................................................... 55 KATRINAS IMPACT............................................................................................................. 56 REDEVELOPMENT ACTION PLAN AND REQUIRED ASSISTANCE ............................ 56

    Film and Television Industry Redevelopment Plan...................................................................... 60 OVERVIEW (Pre-Katrina)....................................................................................................... 60 KATRINAS IMPACT............................................................................................................. 60 REDEVELOPMENT ACTION PLAN AND REQUIRED ASSISTANCE ............................ 61

    Music Industry Redevelopment Plan ............................................................................................ 65 OVERVIEW (Pre-Katrina)....................................................................................................... 65 KATRINAS IMPACT............................................................................................................. 65 REDEVELOPMENT ACTION PLAN AND REQUIRED ASSISTANCE ............................ 66

    Manufacturing Industry Redevelopment Plan .............................................................................. 69 OVERVIEW (Pre-Katrina)....................................................................................................... 69 KATRINAS IMPACT............................................................................................................. 70

    Page 2 of 84 {N1448900.1}

  • BNOB Commission: Economic Redevelopment Plan January 2006

    REDEVELOPMENT ACTION PLAN AND REQUIRED ASSISTANCE ............................ 70 SUMMARY.............................................................................................................................. 72

    Food Processing Industry Redevelopment Plan ........................................................................... 73 OVERVIEW (Pre-Katrina)....................................................................................................... 73 KATRINAS IMPACT............................................................................................................. 73 REDEVELOPMENT ACTION PLAN AND REQUIRED ASSISTANCE ............................ 74 SUMMARY.............................................................................................................................. 75

    Information Technology Industry Redevelopment Plan............................................................... 76 OVERVIEW (Pre-Katrina)....................................................................................................... 76 KATRINAS IMPACT............................................................................................................. 76 REDEVELOPMENT ACTION PLAN AND REQUIRED ASSISTANCE ............................ 77

    Workforce Redevelopment Plan................................................................................................... 80 OVERVIEW (Pre-Katrina)....................................................................................................... 80 KATRINAS IMPACT (current state)...................................................................................... 80 REDEVELOPMENT ACTION PLAN AND REQUIRED ASSISTANCE ............................ 80

    Conclusion .................................................................................................................................... 84

    Page 3 of 84 {N1448900.1}

  • BNOB Commission: Economic Redevelopment Plan January 2006

    Bring New Orleans Back: Economic Redevelopment Plan

    Executive Summary New Orleans faces an unprecedented challenge in rebuilding its economy in the wake of Hurricane Katrina. Rarely, if ever, has a major American city faced such a massive disruption: more than 1,000 people died, basic services and infrastructure were disabled, businesses were obliterated, the workforce was displaced, housing stock was destroyed, tourism halted, and the consumer base was forced out and uncertain of return. Any one of these events would have constituted a great economic trauma; their confluence threatens the viability of New Orleans as we know it. This situation demands an incredible set of actions, which are outlined on an industry-by-industry basis in this report. The aftermath of Katrina undoubtedly presents a monumental challenge, but it also provides a valuable opportunity to implement a comprehensive and coordinated plan for economic development. The industries addressed in this plan represent the greatest opportunity to achieve this goal. It is a plan not only to reopen New Orleans, but to restart its economy, and to make it a model for revitalization.

    OVERARCHING NEEDS Four overarching elements are essential to economic recovery in New Orleans:

    1) Secure the Infrastructure Without a secure infrastructure, the citys operations will be hamstrung and the confidence of investors will be lost.

    2) Jumpstart the Economy Immediate action must be taken to restart the economy, so industries can get running and return to steady state business as usual.

    3) Business Friendly Environment Katrina imposed a significant competitive disadvantage to New Orleans this must be considered as a part of the citys overall business climate, and adjustments to taxation and regulation must be made accordingly.

    4) Administration of Funds With aid dollars central to recovery, New Orleans must maintain sound fiscal management structures to maximize the impact of these funds.

    Without these vital pieces in place, businesses will not return, and industries will break down.

    Secure the Infrastructure Quickly restoring the citys infrastructure is