By Kevin F. McCarthy
In keeping with the present scenario in New Orleans within the aftermath of typhoon Katrina, this file presents strategies relating to potent organizational and strategic methods to revitalizing the city1s economic climate, identifies the simplest practices that different towns have used to foster monetary improvement, describes how those practices may be utilized to New Orleans, and considers old tendencies and earlier improvement missteps.
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Additional info for An Economic Development Architecture for New Orleans (Technical Report)
Indeed, one of our interviewees indicated that 20 to 30 percent of the applicants to workforce development programs fail to qualify because they lack basic skills. Since a suﬃcient supply of quality workers is essential to a successful business environment, New Orleans needs to address its labor situation. Since the quality of an area’s workforce is rooted in the quality of its education system, improving the quality of New Orleans’s schools is clearly needed, and steps are currently being taken to improve education in the city.
Repairing the levees is probably the single most important capital investment needed, but the city has no direct control over this decision. Workforce. 9 One by-product of this outﬂow has been a very tight labor market that has made it diﬃcult for businesses in the city to ﬁnd suﬃcient numbers of workers to ﬁll their demand for both high- and low-skilled jobs. 10 But problems with the New Orleans labor market predate Katrina and include both an overall shortage of workers and a shortage of workers with the skills needed by businesses.
It sorted those clusters into four diﬀerent categories based on future growth prospects and the industries’ current levels of maturity. The mature cluster, which identiﬁed industries with moderate growth prospects and a well-established base in the region, included oil and gas, maritime, and food and consumer products. The dynamic cluster, which identiﬁed industries with healthy growth prospects and a solid foundation in the region, included the medical and petrochemical industries. The emerging cluster, which identiﬁed industries with promising growth prospects and an initial foundation in the region, included the arts and entertainment, environmental technology, and information technology industries.