New Orleans New Orleans EconomicsEconomicsBy: Adele, Elizabeth and KatherineBy: Adele, Elizabeth and Katherine

What are the main elements What are the main elements of the New Orleans' of the New Orleans' economy?economy?

Tourism Tourism New Orleans depends on tourism to help bring in cash flow, New Orleans depends on tourism to help bring in cash flow,

and to help the city prosperand to help the city prosper Oil Oil

Oil and gas production is abundant in New OrleansOil and gas production is abundant in New Orleans PortPort

New Orleans has a great port for trade that keeps the city New Orleans has a great port for trade that keeps the city circling with moneycircling with money

This is a good port because we are on the Mississippi River This is a good port because we are on the Mississippi River with access to the Gulf of Mexicowith access to the Gulf of Mexico

Cinema Cinema Movie Industry is growingMovie Industry is growing

Federal GovernmentFederal Government Gives money to New Orleans to help fix damage and for Gives money to New Orleans to help fix damage and for

schools etc.schools etc.

Interview of a small Interview of a small business in New Orleans. business in New Orleans.

Interview: KathyInterview: Kathy When did your small business open after Hurricane When did your small business open after Hurricane

Katrina (Aug. 29th 2005)?Katrina (Aug. 29th 2005)? My business opened October 11th 2005. My business opened October 11th 2005.

Was it hard to open?Was it hard to open? Yes, because there were no employees and not many Yes, because there were no employees and not many

customers. customers. Any interesting stories?Any interesting stories?

When I came back from Katrina I had to get rid of my When I came back from Katrina I had to get rid of my refrigerator like most people because all of the food rotted refrigerator like most people because all of the food rotted inside. I had purchased a new refrigerator. The refrigerator guy inside. I had purchased a new refrigerator. The refrigerator guy came and put the other one on the street. Within a few hours came and put the other one on the street. Within a few hours someone came to pick up probably to clean and try to sell to someone came to pick up probably to clean and try to sell to someone else. someone else.

What was the impact of What was the impact of Katrina on the economy? Katrina on the economy?

On August 29th, 2005 not only did Hurricane Katrina physically damage On August 29th, 2005 not only did Hurricane Katrina physically damage our city of New Orleans, but it also damaged our economy.our city of New Orleans, but it also damaged our economy.

On August 29th, 2005 not only did Hurricane Katrina physically damage On August 29th, 2005 not only did Hurricane Katrina physically damage our city of New Orleans, but it also damaged our economy.our city of New Orleans, but it also damaged our economy.

Tourism is one of the main sources of income for New Orleans and that Tourism is one of the main sources of income for New Orleans and that aspect was greatly affected after Katrina.aspect was greatly affected after Katrina.

There was very little personal income because many people were either There was very little personal income because many people were either still displaced or the places they worked were closed, flooded, or did not still displaced or the places they worked were closed, flooded, or did not have enough money to re-open.have enough money to re-open.

For example: hotels were greatly affected because of the lack of For example: hotels were greatly affected because of the lack of tourism and lack of employees.tourism and lack of employees.

Because of Katrina the business at the port in New Orleans was down.Because of Katrina the business at the port in New Orleans was down. New Orleans is a huge port city and not being able to provide an New Orleans is a huge port city and not being able to provide an

import/export area not only affected our city but the rest of the country.import/export area not only affected our city but the rest of the country.

Progress Made in New Progress Made in New Orleans’ Economy since Orleans’ Economy since Katrina:Katrina:

Recently we have made big improvements to the New Recently we have made big improvements to the New Orleans economy since Hurricane Katrina. Orleans economy since Hurricane Katrina.

Tourism has increased dramatically because New Tourism has increased dramatically because New Orleans is almost all fully functional and able to Orleans is almost all fully functional and able to sponsor things such as the National College Football sponsor things such as the National College Football Championship and Mardi Gras.Championship and Mardi Gras.

In the last quarter of 2007 New Orleans reached its In the last quarter of 2007 New Orleans reached its lowest unemployment rates.lowest unemployment rates.

The total personal income of Louisiana residents had The total personal income of Louisiana residents had increased by $2.5 billion just during 2007. increased by $2.5 billion just during 2007.

General cargo and bulk cargo reached 90% and 95% General cargo and bulk cargo reached 90% and 95% of 2004 levels at the port.of 2004 levels at the port.

Road Home ProgramRoad Home Program State program (run by federal money) that State program (run by federal money) that

gives money to people looking to move back gives money to people looking to move back and rebuild their homes. and rebuild their homes.

These people that received the money did not These people that received the money did not have to pay the money back to the government have to pay the money back to the government and also received insurance money (if they had and also received insurance money (if they had it).it). Eligible Applicants: Eligible Applicants: 157,300157,300 Benefits Calculated: Benefits Calculated: 156,657156,657 Amount of Benefits Calculated:  Amount of Benefits Calculated:  $9.5 billion$9.5 billion Amount of Awards Disbursed: Amount of Awards Disbursed: $5.8 billion$5.8 billion

What is the future of New What is the future of New Orleans economically?Orleans economically?

Hurricane Katrina drastically changed the Hurricane Katrina drastically changed the economy of New Orleans.economy of New Orleans.

Plans have been derived structured around Plans have been derived structured around equitable development.equitable development.

The main points of most of these plans is The main points of most of these plans is getting the people who want to return to come getting the people who want to return to come back and getting tourism to come back.back and getting tourism to come back.

They are also designed to help the whole They are also designed to help the whole economy.economy.

Plans for the FuturePlans for the FutureTo get residents and tourism to return, To get residents and tourism to return, New Orleans has to ensure…New Orleans has to ensure…

Health and safety to all communitiesHealth and safety to all communities Resettlement or relocation for displaced Resettlement or relocation for displaced

New Orleans residentsNew Orleans residents Regulate and eliminate crime from the Regulate and eliminate crime from the

neighborhoods and the communityneighborhoods and the community Restore community based organizationsRestore community based organizations Local firms that create jobs with livable Local firms that create jobs with livable

wages that go first to local residentswages that go first to local residents