Why New Orleans?
New Orleans boasts vibrant population growth, low unemployment, and offers one the lowest costs of doing business in the nation. The city’s countless attributes make it one of the most favorable climates for industry:
- Average wages are significantly lower than those offered by competitors
- Utility rates are below the national average
- Class A office space begins at just $13 per sq. ft.
- #1 among the top 100 U.S. cities in GDP growth from 2007-2012
- Reported one of the lowest unemployment rates among top 50 metropolitan areas in 2013
- One of only nine U.S. metros to experience positive middle skilled job growth from 2007-2013
A 2013 Business Retention & Expansion Report, created from 149 Orleans Parish company responses and compiled by NOLABA, provides an overview of the business climate in New Orleans, from the perspective of companies in diverse industries. The report revealed that overall, the New Orleans business community is growing and optimistic about the future:
- 64% perceived their business is growing; only 5% perceived a decline in their business
- 74% of respondents felt the business climate has improved since 2008
- 90% expect the business climate to improve over the next five years
New Orleans is providing high quality employment opportunities for .all of its residents. Since the devastating events of Hurricane Katrina, the city has regained 85 percent of its 2004 population, and its growth rate from 2010 to 2012 was the second highest in the U.S.
New Orleans Rankings:
- Shutterfly ranked New Orleans the #3 “most joyous” city in America
- In 2014, Business Facilities magazine named Louisiana as the state with the best business climate in the U.S.
- Top ten city for relocation by Forbes
- New Orleans ranked #2 Most Aspirational City due to great quality of life, and economic and population growth by The Daily Beast
- New Orleans ranks #8 for highest share of residents who bike to work
Learn more about how your New Orleans business will thrive here: