Recovery
The construction industry is booming in the Greater New Orleans region. With a tremendous need for renovation and rebuilding, including infrastructure, hospitals, office space, retail, and housing stock, the housing and construction industry will continue to be an excellent source of jobs with several years of sustained growth ahead.
Millions of dollars in levee, infrastructure and wetlands reconstruction contracts are being let by the Army Corps of Engineers and other government agencies. Plant expansions, repairs, and continued growth in offshore energy structures provides ongoing opportunities for industrial construction. (See Energy, Petrochemicals, and Plastics)
Permits for building new housing units in the New Orleans MSA is up to pre-Katrina levels, with 5,534 permits approved in 2006 and 6,589 approved in 2007. Homeowners and businesses across the region are undergoing renovations at a rapid pace.
The state’s Road Home program has disbursed $5.6B to homeowners in hurricane-affected areas, and will grant roughly $4B in the upcoming fiscal year. This steady infusion of dollars will continue to accelerate recovery-related construction. The newly formed Greater New Orleans Construction Task Force, a coalition of chambers of commerce and homebuilders and contractors associations are working together to help facilitate the more efficient flow of construction work in the region.
News in The Region
GNO Inc. intensifies focus on digital media industry
GNO Digital Media Alliance launches
Idea Village and GNO Inc. win $1M Rockefeller Foundation grant
Grant to create affordable, worker housing
Armstrong close to landing deal for AeroMexico service
International service may return to MSY
