The Low Cost of Doing Business in New Orleans
Compared with other major U.S. regions, Greater New Orleans has a cost of doing business that makes it one of the most affordable locations around.
Wage levels are up to 40% less than those found in other major markets across the country, utilities are below the national average, and Class A office space can be secured for as low as $13 psf.
Regardless of company-type, every business takes on similar economic burdens: real estate, utilities, taxes, and more. Despite these similarities, the end result differs based on location.
The difference shines through when determining how much those costs will impact operations. Greater New Orleans leads the nation for economic, ranked by KPMG, because of the region’s commitment to growing a vibrant marketplace for several industries.
Rankings & Facts/Figures
Office Space Market Rent/SF
New Orleans MetroCoStar
Industrial Space Market Rent/SF
New Orleans MetroCoStar
Lowest Cost Market
New Orleans MetroKPMG
Overall Cost of Doing Business
Favorite City in America, 2017
Reduce Operating Costs with Incentives
Louisiana offers a suite of attractive business incentives that allow companies to grow
Louisiana offers a wide variety of targeted incentive programs to lessen the tax burden and lower the overall operation costs, helping companies who are locating and doing business in our state to thrive. Companies that meet certain requirements can take advantage of tax credits and other incentives, including material rebates, deferred property tax assessments, contract lending, and other cost-saving programs.
Combined with the low cost of doing business in the region, these incentives build a solid case for relocating, expanding operations, or starting a business in South Louisiana.
Some of the key incentives available for companies include:
- Louisiana Quality Jobs Rebate
- Digital Interactive Media and Software Program
- Industrial Tax Exemption Program
- LED FastStart
GNO, Inc.’s Business Development Team is ready to assist your company with understanding and using these incentives for your project.
Incredible Tax Savings
Corporate tax rates in Greater New Orleans are some of the lowest in the country
Taxes matter to business. They affect location decisions, job creation and retention, international competitiveness, and the long-term health of a state’s economy.
Companies in Louisiana benefit from favorable tax regulations that are designed to allow businesses to grow and thrive without concern for excessive state taxes. When compared with other major markets, the Greater New Orleans region rises above the rest with a corporate income tax rate approaching half the rate felt in other states.
State lawmakers have made expanding and increasing career opportunities for the people of Louisiana a top priority. By eliminating burdensome businesses taxes, overhauling governmental ethics laws, reining in government spending, streamlining the workforce development system, and enacting landmark education reforms, Louisiana has been established as America’s new frontier for business opportunity.
Attractive Commercial Real Estate Rates
Affordable real estate rates make Greater New Orleans a move-in ready location
Two of the biggest barriers that make company relocation difficult are real estate availability and cost. In New Orleans, that isn’t a problem — thanks to a robust catalog of Class A office space, at an affordable rate. With these options available, why not take on an expansion project?
Greater New Orleans has a strong offering of available and affordable commercial real estate options, making the area an attractive location for relocation and expansion moves:
- 8.8M ft2 of rentable space available in the Central Business District alone, and a total of 52M ft2 in the region, all at an average rate of $19.98/ft2 for Class-A space.
- Industrial projects have over 77M ft2 and dozens of certified sites ready and waiting for operations.
Explore Our Regional Data
|METROS (Population 750k – 2 Million)||Cost Index|
|Baton Rouge, Louisiana|
|New Orleans, Louisiana|
|Albuquerque, New Mexico|
|Oklahoma City, Oklahoma|
|Salt Lake City, Utah|
|Raleigh, North Carolina|
|Average Rental Rate (per sf)||$7.17||Class A||Class B|
|Source: CoStar Q3 2019|
A Decade of Development
A recap of economic success experienced in Greater New Orleans over the past 10 years
Receive news and updates on new companies moving into Greater New Orleans, regional awards, and other information about how the local economy is growing.