New Orleans Business Alliance Celebrates Economic Development Commitment and Funding from City of New Orleans
FOR IMMEDIATE RELEASE:
September 6, 2023
|NEW ORLEANS – The New Orleans Business Alliance (NOLABA) announced today that it has received a $900,000 investment from the City of New Orleans to continue leading economic development initiatives for Orleans Parish. |
“This funding commitment attests to NOLABA’s crucial work of growing the city’s economy,” said Louis David, NOLABA Interim President & CEO. “The City of New Orleans has historically been NOLABA’s largest investor, and we are excited to formalize our partnership for the coming year and moving forward.”
The funding comes from a one-year cooperative endeavor agreement with the City of New Orleans. As one of 71 accredited economic development organizations across North America, NOLABA’s key focus areas include business attraction and retention, small business growth, strategic neighborhood development and talent solutions.
“We are proud to be a part of the work that NOLABA is doing for the growth of economic development in the city,” said Gilbert Montaño, NOLABA board chair. “The board is committed to supporting the NOLABA team’s efforts, and we know moving forward, we are going to see more positive impacts from this dynamic organization.”
Today’s investment will support NOLABA in its ongoing efforts to unite a diverse community of stakeholders to retain and attract high-growth industries, catalyze local businesses and neighborhoods, create wealth through small business and workforce development, expand green infrastructure expertise, and build an equitable and sustainable economic future for New Orleans.
“This strong commitment from the City will help us seek additional funding from the business community, philanthropy and other government sources to continue to grow our work and impact across New Orleans,” added David.
Formed in 2010, NOLABA is the official economic development organization for the City of New Orleans. In January 2018, the City’s former Network for Economic Opportunity integrated into NOLABA, leading to the development of a new people-centered and place-based business model with a focus on equity and support for traditionally disenfranchised populations that increased its capacity to serve Orleans Parish businesses and residents.
NOLABA looks forward to continuing to show the world that New Orleans is the best American city for business investment, quality of life and inclusive economic opportunity. For more information about the New Orleans Business Alliance, please visit nolaba.org.
|About New Orleans Business Alliance|
One of fewer than 80 Accredited Economic Development Organizations worldwide, the New Orleans Business Alliance is the official public-private partnership created to increase economic gains for the city of New Orleans. Through a direct partnership with the City of New Orleans and strong connectivity with the business community, the New Orleans Business Alliance works to ensure the economic security of all New Orleanians by diversifying the local economy, developing local talent, and expanding entrepreneurial opportunity. Through an inclusive economic development strategy, we will create a more equitable and prosperous future for all. Learn more at www.nolaba.org.