By Kevin F. McCarthy
In keeping with the present state of affairs in New Orleans within the aftermath of storm Katrina, this file presents options concerning potent organizational and strategic ways to revitalizing the city1s economic system, identifies the easiest practices that different towns have used to foster financial improvement, describes how those practices can be utilized to New Orleans, and considers historic traits and prior improvement missteps.
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Additional info for An Economic Development Architecture for New Orleans (Technical Report)
One of the clearest lessons to be learned from other cities is the emphasis they place on how outsiders view their cities, not just as a place to do business but also as a place to live. Indeed, many cities, particularly those that want to change the way they are viewed, attach such importance to their city’s 11 See Louisiana Economic Development Department (2007). In addition, the state’s development council has issued a master plan for economic development (Louisiana Economic Development Council, 2003).
These funds are spent on salaries and various programs, including marketing costs. Perhaps a better gauge is the cost of running the city’s Oﬃce of Recovery and Development Administration, which implements the Uniﬁed New Orleans Plan. 21 Like most other public-private partnerships, these costs should be borne by a combination of public and private sources. 2 million annually on economic development–related programs. In addition, the city’s economic development fund raised $5 million in FY 2007 and is projected to raise more than $8 million in 2008.
This will require the city to address a crime problem that has become notably more severe over the past two years and has drawn the attention not just of the city’s residents but the national press as well, to restore (and improve) the city’s medical and educational services, to provide an adequate supply of aﬀordable housing, and to restore basic services to the city’s rebuilding neighborhoods. Successfully addressing these problems will not only make living in the city more agreeable, it will also improve the city’s image both to its own residents and to outsiders.