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. This is especially evident with growth and expansion of the already successful 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 $8.47B to homeowners in hurricane-affected areas, and has processed over 130,000 applications for funding. This infusion of funds will continue to accelerate recovery-related construction.
