NEW ORLEANS, LA—Today, Mayor Mitch Landrieu touted a great week of positive economic development news in New Orleans, including the unanimous City Council passage of design plans for Costco construction site that will provide 200 full and part-time jobs. Additionally, New Orleans was named the fastest-growing major city in America according to a new U.S. Census Bureau report. The Brookings Institution named the Greater New Orleans area number one for overall economic recovery for the first quarter of 2012. And Walmart finalized the purchase of the vacant Gentilly Woods Mall site for development of a new Walmart store that will bring an estimated 300 jobs to the area.
“New Orleans is open for business,” said Mayor Mitch Landrieu.
NEW ORLEANS NAMED FASTEST-GROWING MAJOR CITY IN U.S. BY U.S. CENSUS BUREAU
Among cities with populations of 100,000 or more in 2010, New Orleans is ranked first with a population of 360,740 according to a new report from the U.S. Census Bureau. This puts the city's population at 79.2 percent of the pre-Katrina July 1, 2005 estimate of 455,188, and is a 4.9 percent increase.
New Orleans’ growth rate outpaced six Texas locations among the fastest-rising major U.S. cities: Round Rock, Austin and the Dallas suburbs of Plano, McKinney, Frisco and Denton.
Census Bureau's estimates of all incorporated places in Louisiana: http://louisiana.gov/Explore/Demographics_and_Geography/PlaceEstimates_2010v2011.php
THE BROOKINGS INSTITUTION NAMES GREATER NEW ORLEANS #1 FOR OVERALL ECNOMIC RECOVERY IN 1ST QUARTER OF 2012
This week, the Brookings Institution named the New Orleans Metropolitan area number one for overall economic recovery in the first quarter of 2012.
The analysis tracks recovery performance across four indicators: employment, unemployment, output (gross metropolitan product or GMP), and house prices. It also ranks metro recoveries against each other across those four economic indicators as well as on an index of overall performance.
Recent economic reports point to a slowed pace of national economic recovery in the spring of 2012. Yet even earlier in the first quarter of 2012, the nation's major metropolitan economies exhibited tremendous variation in their recovery progress.
Full Report: http://www.brookings.edu/research/interactives/july-metromonitor#overall
WALMART FINALIZES PURCHASE OF VACANT GENTILLY WOODS MALL SITE FOR DEVELOPMENT OF NEW WALMART STORE
Walmart has entered an agreement to purchase the blighted Gentilly Woods Mall site for the development of a new Walmart store serving the Gentilly neighborhood. The Gentilly Woods site at the intersection of Chef Menteur Highway and Press Drive has remained dormant since Hurricane Katrina. Soon residents in Gentilly and other nearby neighborhoods will enjoy access to one-stop, low priced shopping with features such as a full line of fresh foods and a wide assortment of products and services, missing in the area since 2005.
Walmart’s investment in Gentilly will bring an estimated 300 jobs, offering eligible associates a comprehensive benefits package that includes medical, bonus incentives, 401 (k) matching contributions up to 6 percent and discounts on general merchandise and fresh fruits and vegetables.
“One of my top priorities as mayor has been to attract new retail development in the city, so I am pleased Walmart is coming to Gentilly -- a community that is prime for economic development,” said New Orleans Mayor Mitch Landrieu. “Delivering new retail for our residents is vital to our progress— it provides needed jobs, local tax dollars, and improved quality of life. We appreciate the work that NORA and Walmart have done to negotiate an agreement to allow the company to make this important investment in another New Orleans community.”
The new Walmart store in Gentilly is expected to open early 2014. Site plans will soon be submitted to the City Planning Commission and New Orleans City Council for approval. Walmart is funding the construction of the Gentilly store completely, including the costs for the demolition of the existing Gentilly Woods Mall structures and any site remediation prior to construction
NEW ORLEANS CITY COUNCIL UNANIMOUSLY APPROVES PLAN FOR COSTCO
Today, the New Orleans City Council unanimously voted to approve design plans for national retail giant Costco Wholesale Corporation on Carrollton Avenue.
Costco has agreed to build a brand new, 148,000 square foot warehouse at the 14.7-acre site formerly occupied by the Carrollton Shopping Center. The project will create approximately 200 full and part-time jobs, utilize 120 prevailing-wage local construction positions and result in a capital investment of over $40 million. The warehouse is expected to open in 2013.
This approval brings the store one step closer to fruition.