Why Is New Orleans A Great Place to Do Business?

August 24, 2015

Takeaways

Business leaders in New Orleans speak about working and prospering on the Gulf Coast.

Why Is New Orleans a Great Place to Do Business?

 
 
 
The food, music and historical aspects of New Orleans always are known to offer unique cultural enhancements to business relationships in the crescent city. While energy in our region’s sustainability efforts as a coastal community is high, that same energy carries over to end-of-day gatherings along the bayous and rivers or in city squares, where we meet up with those same business acquaintances to savor our unique culture. 
 
-Henri Boulet, Executive Director, Louisiana Highway 1 (LA 1) Coalition
 

 

Hurricane Katrina presented a difficult situation for the economy of New Orleans and the Gulf Coast region, but the resiliency of our businesses and citizens have made New Orleans come back stronger and more engaged than ever. By finding its "new normal", New Orleans has become a hub of innovation and entrepreneurship and has emerged as a top city for new business and technology, attracting start-ups and young professionals. 

-Suzanne Haggard, Chief Financial Officer, LCMC Health

 

 

 

New Orleans offers  low overhead and operational costs as well as an increasingly attractive pool of talented professionals. More native professionals are staying here, and since Katrina there has been a fresh injection of young professionals who are motivated and passionate about

the city. For us, this makes it easier to hire and retain good laboratory staff while minimizing turnover.

Also, the revived medical corridor that includes the New Orleans Bioinnovation Center (the incubator where our company is based) as well as the new VA Hospital and University Medical Center has created a fertile landscape to fuel innovation and growth for biomedical startups.

Louisiana’s refundable tax credits for qualified research and development has been extremely helpful as a catalyst for emerging bio-tech  companies like ours over the last several years. We hope that this refundable R&D tax credit program will be restored quickly, as this has been one of the important reasons why InnoGenomics has remained in New Orleans.

-Sudhir Sinha, Ph.D, CEO and President, InnoGenomics Technologies

 

New Orleans has the ideal intersection of commercial opportunity and quality of life. In practical terms, that means New Orleans is a talent magnet – by virtue of its concentration of colleges, universities, law schools and medical school, and its culture. Its cosmopolitan character offers the best of a big city with a 30-40% lower cost of doing business. In addition, across the board New Orleans leaders actively seek out new business owners and executives to offer support and to help them thrive.

-Quentin L. Messer, Jr., president and CEO, New Orleans Business Alliance

 

I moved here after working at tech startups in New York, Lost Angeles, and London, but New Orleans stands out. Hurricane Katrina 10 years ago forced everyone to become an entrepreneur in order to rebuild the city, and that spirit persists. There is an ecosystem of support for entrepreneurs, and it welcomed me with open arms when I arrived here in 2010 to start Lucid. That, coupled with the unique culture and quality of life, makes New Orleans a great place to do business. 

-Patrick Comer, CEO, Founder, Lucid