Vol. 11: Setting The Table


Setting The Table

Working in New York City in the years after 9/11, I learned a basic lesson about economic development. The attacks left the city in financial ruin, $4B in the red. Yet, four years later, NYC was experiencing its biggest building boom in decades. Why? Because of specific public policies that then encouraged private investment. And so watching this, I learned: the most efficient thing economic developers can do is to “set the table”- and then let the markets work.

This is why I am so excited about the outcome of the recent legislative session. While it was a tumultuous few weeks, when the smoke cleared, pro-business, pro-community GNO, Inc. bills did remarkably well. In fact, over 75% of our priority agenda was signed into law by Governor Jindal, including bills that set the table for a potential feast of wealth creation for the Greater New Orleans community.

First and foremost is HB 106 (Greene) – elimination of capital gains tax from the sale of a private business. It used to be that when you sold your business in Louisiana, you were hit with a 6% bill. And so many people, and their companies, left before they sold. The result has been years of a wealth – and brain – drain to neighboring states, like Texas. HB 106 fixes this unintended consequence, immediately levels the playing field, and gives Louisiana a new recruiting tool.

Then, there is SB 277 (Duplessis) – up to a 35% tax credit for the production of digital media. What earlier legislation did for film, SB 277 will do for digital. And if you think it has been exciting shooting to #3 in the country for movies, get ready for what will happen in digital, an industry that dwarfs film in potential for growth and high-quality job creation.

You can read about this and more smart legislation in this newsletter.

Thanks for your support,

Michael Hecht President and CEO

Economic Development News

GNO, Inc. Initiatives

Read more about GNO, Inc.’s legislative agenda and the positive outcomes associated with it by clicking
here

CEO is optimistic about region’s outlook – GNO, Inc. head says leadership is necessary
Full story…

Rebuilding the Latin American Link
Full story…

Port hopes to bolster Infrastructure
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Good News

GNO region touted as “Major Market of the Year” by Southern Business and Development Magazine
Full story…

New Orleans 33rd in nation for job postings
Full story…

New Orleans fastest growing big city, population increased 8.2 percent in past year
Full story…

Louisiana Rockets To No. 1 On Financial Disclosure Rankings
Full story…

Louisiana 1 of only 2 states with construction job growth
Full story…

New Orleans becoming a hot bed for tech startups
Full story…

N.O.-area workers had highest weekly paycheck in 4Q 2008
Full story…

Louisiana job count climbed during the fourth quarter of 2008
Full story…

N.O.-area workers had highest weekly paycheck in 4Q 2008
Full story…

Initial jobless claims down in Louisiana
Full story…

Fitch Ratings upgrades St. Tammany Parish school District
Full story…

AeroMexico?s new service to New Orleans may boost medical travel
Full story…

Fitch Ratings upgrades St. Tammany Parish school District
Full story…

Louisiana 1 of only 2 states with construction job growth
Full story…

Covington based Smoothie King opens 600th store in NJ
Full story…

Investment

Governor Jindal Announces $565.5 Million in Federal Aid to Parishes Across State for Recovery from Hurricanes Gustav and Ike
Full story…

State of Louisiana Approves $1 Million for Ruth U. Fertel/Tulane Community Health Center in New Orleans
Full story…

$2.7 M approved for First Responder Communications in Washington, Tangipahoa Parishes
Full story…

EPA awards $70M to Louisiana from federal stimulus program
Full story…

St. James Parish gets $718,000 grant
Full story…

N.O.-area shipyards receive $1.8M in federal grants
Full story…

Gulf Coast Bank surpasses $1B asset mark
Full story…

FEMA: $4.2B set aside so far for Louisiana infrastructure
Full story…

$4.5 M approved for Improvements at Historic Pontchartrain Park Golf Course
Full story…

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Around the Region

Announcements and Events

Evacuteer Training
July 25, 2009
Full story…

Evacuteer Training
July 25, 2009
Full story…

Free training for non-profits: An overview of the state capital outlay budget process and how to request funding
July 29, 2009
Full story…

The New Orleans Chamber of Commerce Presents City Scene
July 30, 2009
Full story…

SIGGRAPH Networking Event hosted by Greater New Orleans Digital Media Alliance
August 5, 2009
Full story…

An executive program for parties interested in international trade
August 10, 2009
Full story…

Jefferson Chamber Business Development and Growth Meeting
August 11, 2009
Full story…

Meet With LSU Champion Coach Paul Mainieri
August 14, 2009
Full story…

S.T.E.M. Education Community Awareness Conference
September 17, 2009
Full story…

EMPLOYOLA
September 30, 2009
Full story…

GNO Digital Media Alliance Meeting
October 14, 2009
Full story…

Do you have news or events that you would like to share in our upcoming editions? Let us know…
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