An Economic Development Architecture for New Orleans by Kevin F. McCarthy

By Kevin F. McCarthy

Based on the present scenario in New Orleans within the aftermath of storm Katrina, this document offers suggestions relating to potent organizational and strategic ways to revitalizing the city1s economic climate, identifies the easiest practices that different towns have used to foster monetary improvement, describes how those practices could be utilized to New Orleans, and considers ancient traits and earlier improvement missteps.

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Extra resources for An Economic Development Architecture for New Orleans (Technical Report)

Example text

The first is for the development agency to exercise control over the individual organizations’ funding; the second is to exercise control over their expenditures. 22 Changing the legislation that authorizes funding for the public agencies in this category would, no doubt, be politically difficult.

The first is for the development agency to exercise control over the individual organizations’ funding; the second is to exercise control over their expenditures. 22 Changing the legislation that authorizes funding for the public agencies in this category would, no doubt, be politically difficult.

In implementing this approach, the development plan should target three groups of industries. The first group (oil and gas, maritime, and tourism) contains the core industrial clusters. The second group (medical services, food processing, biotechnology, and the small-business sector) contains core industries that suffered major damage from Katrina that will have to be repaired for them to resume their prior prominence. This will, of course, require balancing the pros and cons in each case. The third group (arts and entertainment, energy technology, and information technology) are clusters that had a solid footing in the city before the storm and are potential growth sources for the future.

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