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Sunday, 29 July 2012 13:39
New Orleans bounces from Katrina, now U.S. fastest growing city
 

new-orleansNew Orleans, now close to seven years away from the devasations of Hurricane Katrina is bouncing back with a vengence and now according to the U.S. Census Bureau, it is now the fastest growing city in America. 

According to an email sent by Michael Hecht of the Greater New Orleans Inc, ""A Look Into America's Fastest Growing City," Forbes describes the "ABCs" of Greater New Orleans' long-term growth and prosperity:  financial Assets (low costs, targeted incentives), Bourgeoning industries (digital, biomedical, startups) and Culture (recently voted most creative, romantic, authentic, mysterious and culturally rich in America).  

 

According to Forbes, "Results from data collected by the U.S. Census Bureau prove that New Orleans is now the fastest growing city in America, but it doesn’t just represent a repopulation of a city that lost nearly sixty percent of its residents. After being completely evacuated almost seven years ago, New Orleans has recovered most of its population – a remarkable accomplishment for a city that was witnessing a significant out migration in the years before disaster struck."

Part of the reason for the growth is the entreprenurship spirit which has overtaken the city with an emphasis on incentives:

 "Aggressive tax incentives have also been beneficial in luring new recruits, entrepreneurs, and large business to New Orleans.  In 2002, a foundation for a new film industry had been established with a tax credit program for movies produced in the state. However, it wasn’t until after Katrina that more production crews committed to continuing their work with Louisiana, and quickly saw the benefits of working in the region. In addition, the productions were pumping millions of dollars into the city’s recovering economy, and providing jobs to those who wanted to get into the industry.

 

With the increasing success from the film tax credits, more programs were gradually implemented within other sectors, such as digital media, bioscience, and sustainable industries."

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