Report Recommends Strategy for Rebuilding New Orleans Economy

The Rand Corporation has published a new report on development efforts in New Orleans more than two years after the city was devastated by Hurricane Katrina. The report, titled "An Economic Development Architecture for New Orleans," was authored by Rand senior social scientist Kevin McCarthy and is available for download or purchase on the Rand Corporation's web site.

According to the report, the city of New Orleans is in need of an economic development strategy that makes use of both public and private monies administered through a centralized structure. The report was generated as a result of a request from the Horizon Initiative for the Rand Corporation to recommend a viable strategy for getting the New Orleans economy moving again. The report was published as a study by the Rand Gulf States Policy Institute.

Kevin McCarthy, the author of the report, says, "This is a unique opportunity to not only repair the damage from the storms, but also address some pre-existing problems, in a comprehensive way, to forge a stronger, more vibrant economy for the city of New Orleans and the surrounding region."

In preparing the study and report, the Rand Corporation and Gulf region universities looked at economic development plans for nearly twenty other cities and found that three main factors facilitated successful strategies. Those factors were comprehensive design, organization appropriate to the task, and a sound plan for putting the strategy into effect.

Specific recommendations made by the Rand Corporation in the report include the creation of a three-phased economic development program, focusing economic development efforts on a three-tier public and private partnership structure, the development of an economic development effort vision statement, the targeting of economic development efforts at maritime, oil / gas, and tourism industries, and the setting of priorities for improving physical infrastructure, labor force quality, city and business community interaction, and the national image or perception of New Orleans.