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Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts

Friday, December 23, 2016

Low-income residents being ousted from New Orleans' American Can Co. affordable-housing complex | The Advocate


The Orleans Avenue complex, got generous public financing in exchange for setting aside some units for low-and moderate-income residents.   But with the complex's affordable-housing agreement set to expire in January, dozens of residents have been told to clear out — presumably to make way for higher-end tenants paying much higher rents. For many of those residents, who are largely on fixed incomes, disabled or elderly and who include a 95-year-old woman, it’s not clear where they will go.




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Monday, April 25, 2016

Hundreds of thousands of Jazz Fest fans equals hundreds of millions of dollars spent in the city | WDSU


Music fans are making camp in New Orleans this week for the 47th annual Jazz Fest, presented by Shell. In 2015, over 460,000 festival fans packed the fairgrounds for Jazz Fest. With the great weather we've had this weekend, 2016 may bring in even more. And the sea of people is bringing in a wave of green.

“We are talking about an economic impact of well over $300 million,” said Mark Romig, president and CEO of New Orleans Tourism Marketing Corp. “You’ve got great weather. You’ve got great music, great food, great art, and it's just one of those mainstays of our economic calendar for the year.”

Read more via WDSU
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Friday, August 28, 2015

Still Missing New Orleans | The American Prospect


When Europe lost the home of Mozart to war, America rebuilt it. When the U.S. lost the home of jazz to flood, it sold it to private speculators.

Today, they say, New Orleans is back. Except that it isn’t. The local economy may be humming, but absent are some 100,000 people who fled the city when the storm and its aftermath took everything from them. Many of them descend from families whose presence in the town spanned the ages. Nearly all of them are black.

Read more via The American Prospect
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Wednesday, August 05, 2015

NY Times Says Post-Katrina New Orleans Is a Great Place to Eat, Ignores the Plight of Black Families | Atlanta Black Star

As we mark the 10-year anniversary of Hurricane Katrina, many articles are analyzing what progress has been made in rebuilding New Orleans.


Hurricane Katrina resulted in $105 billion in damage, killed 2,000 people and disrupted the lives of many Black families. However, a recent tweet by the New York Times says New Orleans is a better place to eat after the storm.

According to figures from the New Orleans Urban League and the National Urban League, the Black community is worse off 10 years after Katrina.

NOLA.com reveals that, according to the Urban League report, the median income gap between Black and white households in New Orleans has widened by 18 percent from 2005 to 2013. The Urban League also stated that although 59 percent of the population was Black, only 48 percent of Black men were working. The study also found the number of Black children living in poverty had increased from 44 percent in 2005 to 50.5 percent in 2013.

Read more via Atlanta Black Star
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Thursday, July 24, 2014

Better transit is the path to progress in New Orleans | Times-Picayune

A vibrant public transit system is the backbone of opportunity for cities like New Orleans. Public transit connects people to jobs, food, schools and health care. A reliable, coordinated public transit system could make a real difference for families who might need to take a sick child to their doctor. It also could determine what access families have to healthy food. And for cities like New Orleans, public transit is an economic generator. Research shows that investments in public transit systems yield significant gains. Every $1 spent on public transit generates a local economic return of $5; every $1 billion invested in public transit creates and supports 36,000 jobs. In short, public transit is a booster for economic growth.

Read more via Times-Picayune
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Sunday, July 06, 2014

Essence Festival ‘Huge Economic Engine’ for New Orleans | Time

New Orleans Mayor Mitch Landrieu said Friday the Essence Music Festival “may be the most important event the people of this city are involved in.”

Over the past 20 years, big names from Beyoncé to former Secretary of State Hillary Clinton have drawn massive crowds to the “party with a purpose,” which has become the largest African American music festival in the U.S. The three-day event generated around $241 million in 2013

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Thursday, September 05, 2013

New Orleans Rolling in Cash Sees Rebirth: Real Estate | Bloomberg

Chad Chenier/Ekistics Inc. via Bloomberg
Sean Cummings has developed 18 New Orleans projects, including condominiums, hotels and luxury lofts with floor-to-ceiling windows at a former rice-processing plant in a gentrifying neighborhood. Up next: a residential complex planned for a weed-choked lot currently home to an abandoned school bus. This year through May, commercial real estate transactions in the Big Easy totaled $424.7 million, up 41 percent from the $301.1 million in all of 2012, according to New York-based Real Capital Analytics Inc. New Orleans was the only U.S. market among 55 tracked by the research firm in which sales have surpassed last year’s total.

Read more via Bloomberg
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Monday, May 20, 2013

High end homes in New Orleans are hot properties | WWL


Extremely low interest rates are one reason home prices in the New Orleans area are on the rise. And, high-end properties appear to be extremely hot items...

Read more via WWL
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Thursday, December 06, 2012

Young is upbeat on Jefferson Parish | WWL

An optimistic and promising State of the Parish address today from Jefferson President John Young.  Young foresees even better days ahead but warns that the fiscal cliff crisis in Washington better get straightened out and soon.  In an interview today with WWL-TV, Young predicted the economy is about to really take off, which could help with one of the biggest problems facing his parish.

Read more via WWL
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Friday, October 19, 2012

Closure of Southeast Louisiana Hospital | Gambit

As of now, Gov. Bobby Jindal's administration plans to close the hospital entirely by the beginning of 2013, less than four years after it closed New Orleans Adolescent Hospital and transferred its patients to SELH — promising the adolescent NOAH patients and their families that care would be provided at SELH.

  The latest changes will yield significant savings for the state, right after it was hit with a major cut to federal Medicaid payments, says Louisiana Department of Health and Hospitals (DHH) Deputy Secretary Kathy Kliebert...

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Friday, October 05, 2012

Visitor spending up significantly in New Orleans | Travel Weekly

New Orleans welcomed 4.9 million visitors in the first half of 2012, up 2% over the same period in 2011. The city hosted 8.75 million visitors in 2011. Visitor spending jumped 11% to $3.35 billion, according to a study by the University of New Orleans Hospitality Research Center...

Read more via Travel Weekly
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Monday, September 24, 2012

New Orleans' recesssion recovery leads the nation | WWL


New Orleans fared better than any other metro area in the U.S. in recovering from the recession during the second quarter of 2012, according to a report by the Brookings Institute.

In fact, that's the second quarter in a row that New Orleans was the top-performing metro area in the country.

Read more via WWL
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Monday, January 02, 2012

The Year in Art | Gambit New Orleans

It's been a hell of a year. That can be taken in a number of ways, but what stands out is that more changes have occurred in this city's art scene over the past 12 months than typically would take place over many years in more normal times. While local galleries maintained their predictably stable status, 2011 was a mixed bag for arts institutions as directors and curators came and went. Champagne corks popped at some as others bled red ink...

Read more via bestofneworleans.com

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Friday, November 18, 2011

Thanksgiving dinner a bargain in Louisiana | WWL

Louisianans are catching a break on that traditional Thanksgiving feast this year. While the cost of that meal is up 13 percent nationwide, it's down almost 4 percent here at home...

Read more via wwl.com

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Thursday, November 17, 2011

City of New Orleans aims to rein in pension costs | NOLA.com

People enrolled in the retirement system for New Orleans city workers would start paying more in pension contributions over the next two years, and the formula used to determine the size of their benefits would change, under separate measures set to go before the City Council today...

Read more via nola.com

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Some Occupy NOLA members worry they could be next | WWL

The New Orleans branch of the "Occupy" protest has been primarily peaceful. But after the events in Oakland, Atlanta and New York, some protesters are starting to worry about what they're hearing from other cities. "With every crackdown in every other city, it raises the expectations that the same thing could happen here," one participant in Duncan Plaza said...

Read more via wwl.com

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Monday, October 31, 2011

New Orleans has 2nd widest income gap in US | WWL

New Orleans has the second widest income gap between rich and poor of all major U.S. cities, according to U.S. Census numbers. Only in Atlanta is the difference greater, and Loyola Economist Dan D'Amico says Atlanta has a high number of corporate executive offices, which give that city a disproportionately large sample of wealthy people...

Read more via wwl.com

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Thursday, July 14, 2011

Foreclosure actions rise in Louisiana | Forbes

The number of Louisiana homeowners being hit by foreclosure actions is on the rise with the majority of those either losing their homes or facing a foreclosure sale, a national foreclosure tracking firm said Thursday.
Read more via forbes.com

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Tuesday, July 05, 2011

Essence Fest proved again to be boon to tourism | WWL

It's a big boost for the city of New Orleans.
The three day fest has an estimated $170 million economic impact on the Crescent City.


Read more via wwltv.com

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Thursday, April 21, 2011

Will The Lakefront be shutdown the 4th of July weekend. | WVUE-TV

It is a favorite place for residents like Edna Klein and her son Gaitlin. But as of July 1st, the public may not have access to the Lakefront or its park spaces on weekends. The Non Flood Protection Asset Management Authority says unless it receives money to pay for police patrols and maintenance, it can't afford to keep the Lakefront area open seven days a week...


Read more via fox8live.com

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