Real Economic Development
New Orleans Prospers
Royce Understands:
Small businesses play a significant role in supporting our local economy, celebrating our culture, and giving New Orleanians a pathway to economic prosperity. However, rising insurance costs, limited access to capital, and difficulties in recruiting skilled workers are holding them back.
The Port of New Orleans is a national powerhouse, and the planned Louisiana International Terminal is an economic game changer that will result in:
- The creation of thousands of direct and indirect jobs within New Orleans and the surrounding parishes.
- Billions in regional earnings that will foster local economic activity, from housing to retail.
- Higher tax receipts to support public services, infrastructure, and further investment in the city.
- The Port NOLA’s ability to handle larger international vessels enhances New Orleans’s role in global trade.
The Michoud Assembly Facility, which supports more than 3,000 jobs in the Greater New Orleans area and has contributed roughly $600M to the state’s economy, has to be part of our long-term economic success.
With two major health systems, two medical schools, and plans to create a new medical school at Xavier University, a half dozen local nursing programs, and the BioDistrict, the healthcare industry provides a meaningful opportunity to grow the economy and create more good-paying jobs.
Royce Will:
Grow our small businesses by:
- Focusing on expanding equitable access to funding and building a cohesive, inclusive ecosystem that aligns workforce development with business needs.
- Provide property tax incentives to support properties owned by or leased to local small businesses.
- Establish a small business support fund to provide local entrepreneurs with the necessary resources to purchase equipment/technology, acquire property, manage cash flow, and implement energy efficiency/resiliency upgrades. Such a program could be modeled on similar programs in Chicago, Minneapolis, or Dallas.
- Establish a business navigator program within City Hall to work directly with local small businesses, developers, and non-profits to assist with licensing, permitting, sales tax remittance, and more. City government should treat our local business owners as clients.
- Make real estate more affordable for local businesses by offering property tax incentives to New Orleans-grown businesses that develop or occupy commercial properties.
- Partner with area economic development organizations to coordinate technical assistance, intentional mentorship, and contracting opportunities for entrepreneurs of color.
Make New Orleans the Leading Port in America:
- Make the Port of New Orleans expansion a top priority so that more residents can benefit from stable, livable wages.
- Strengthen our position as a global logistics hub by supporting the Port in doubling its container capacity. This is the kind of growth that can lift families and neighborhoods.
- Protect the interests of residents and neighborhoods by requiring the Port to engage them in the planning process, ensuring they are not sidelined. This growth cannot be another instance of the costs of economic growth burdening struggling areas.
- Focus on infrastructure improvements in and around New Orleans East and the Lower Ninth Ward to support both job access and neighborhood quality of life, so these communities benefit from the Port’s success, not just bear its weight.
- Ensure that workforce development partnerships tied to Port growth specifically target residents of New Orleans East and the Lower Ninth Ward, connecting them to career-track jobs, not just temporary work.
Support Michoud:
- Work closely with Louisiana’s congressional delegation and industry coalitions to champion NASA program funding and invest in the surrounding infrastructure.
- Partner with local universities, trade schools, and workforce programs to train residents in aerospace manufacturing, engineering, and high-tech trades needed by NASA and its contractors, ensuring Michoud has a steady pipeline of talent.
- Improve transportation routes, port access, and hurricane protection in New Orleans East to safeguard the facility, support logistics for large rocket components, and make the area more attractive for NASA suppliers and related businesses.
Make New Orleans a Healthcare Leader by leaning into the BioDistrict opportunities by:
- Investing in infrastructure around the District to support new hospitals, labs, and research centers.
- Creating professional pathways for locals, from nursing to biotech careers, through training partnerships with Delgado, Xavier, Tulane, and LSU.
- Supporting entrepreneurs and small businesses so local companies benefit from contracts, research, and growth tied to the District.
- Making equity central, ensuring that neighborhood residents are not displaced but instead gain housing, jobs, and business opportunities from the District’s success.
