By Kevin F. McCarthy
In accordance with the present state of affairs in New Orleans within the aftermath of storm Katrina, this record presents innovations relating to potent organizational and strategic techniques to revitalizing the city1s economic climate, identifies the easiest practices that different towns have used to foster monetary improvement, describes how those practices can be utilized to New Orleans, and considers old developments and previous improvement missteps.
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Extra resources for An Economic Development Architecture for New Orleans (Technical Report)
7 The New Orleans area has at least one research facility in each of these clusters and signiﬁcant concentrations in several, including federal shipbuilding and repairs, computer sciences, medicine and biotechnology, and earth and environmental sciences. As Tortorano and Tortorano point out, each of these clusters is expected to grow well above the national average in the future, and a solid research foundation provides the key element needed for local areas to capture that growth. Although Katrina did substantial damage to the city’s economy and its industries, both the maritime and oil and gas clusters have made solid recoveries, and the hospitality cluster appears to be on its way (Liu and Plyer, 2007; University of New Orleans, 2007).
Internal Improvements: Infrastructure, Workforce, and Governance Building on its strengths and addressing the weaknesses of its economic infrastructure will require the city’s public and private sectors to make a number of improvements to that infrastructure. Indeed, it was common practice in many of the cities we examined to lay out a plan to address such internal improvements, whatever speciﬁc development strategy they adopted. Many of the improvements described here have already been identiﬁed in the Bring New Orleans Back Commission’s economic development report (BNOB, 2006) and by the Uniﬁed New Orleans Plan (UNOP, 2007).
In addition, it requires a wide range of information about the community and its assets, broad media coverage, and meetings and brieﬁngs with various groups to ensure their cooperation. Implementation Phase The ﬁnal component of these economic development programs includes four tasks: choosing a set of priorities among the various activities to be performed, setting up a schedule outlining short- and long-term goals, identifying a set of metrics to assess the progress in meeting these goals, and establishing a mechanism to review and revise the plan as experience warrants.