Vol. 20, June 25, 2010 In this issue: Economic Development News | Around the Region The Moratorium We applaud Judge Feldman's injunction on the deep drilling moratorium. But we are deeply concerned that the moratorium will be reinstated (either on a de facto or actual basis). The fact is, this suspension of deepwater drilling has the potential to turn an ecological catastrophe into an economic calamity, and it must be swiftly addressed. There are two points that are critical to stress here: First, there is no one in Louisiana, neither fisherman nor oilman, neither conservationist nor industrialist, who does not want to protect the environment of our State. This is where we live; preserving our coast is an existential issue for us. Let no one doubt this. But at the same time, let no one doubt that the job loss from the moratorium is real, and has the potential to cut the legs out from a region just regaining its stride after Katrina. Multiple experts asked to make recommendations about future drilling have agreed that a blanket moratorium is not the answer, as it will not measurably reduce risk further, and it will have a lasting impact on the nation's economy which may be greater than that of the oil spill. Please see the attached presentation, where we: Analyze the economic impacts of the moratorium Propose practical solutions that preserve our economy while protecting our environment Discuss other positive responses to this event, including accelerating MMS royalties, and evolving Southeast Louisiana into a global hub of sustainable industry, through our GreenN.O. initiative Thank you for your support during these challenging times. Economic Development News Louisiana's unified voice against drilling ban Business leaders push 'Move Forward Now' agenda on oil leak Study: Moratorium could cost up to 22,000 jobs, $782M in lost revenue Michael Hecht, GNO, Inc. on CNN St. Tammany poised to benefit from new regional cooperation GNO, Inc. launches Green N.O. initiative Abandoned Bohn Ford site to become green business hub Back to Top Around the Region Announcements and Events LSBDC Business Needs Assessment Survey Do you have news or events that you would like to share in our upcoming editions? Let us know... Back to Top Jefferson Orleans Plaquemines St. Bernard St. Charles St. James St. John the Baptist St. Tammany Tangipahoa Washington 365 Canal Street, Suite 2300, New Orleans, LA 70130 Phone: 504.527.6900 Fax: 504.527.6970 www.gnoinc.org If you would like to start receiving our Region Report emails, To unsubscribe, click here or send an email to: unsubscribe-25876@elabs6.com