October 25th, 2013
Thursday, November 7th read more
It’s Monday, July 28 and 9:21am in Downtown New Orleans.
On Thursday, July 7, Louisiana Governor Bobby Jindal signed a bill that will extend the State Historic Tax Credit, a program that provides significant financing incentives for major historic redevelopment projects. The Downtown Development District of New Orleans introduced the idea to expand the program in 2005 and has been a leader in educating policymakers on the importance of extending the program through 2016. In pushing for the expansion of the program in 2005, the DDD had high expectations for how it would stimulate and facilitate development Downtown and throughout the state. In six years, the program has lived up to those expectations, resulting in more than $500 million of investment in Downtown New Orleans alone.
The DDD worked with a broad coalition of downtown authorities, Chambers of Commerce, a developers consortium and the City of New Orleans in educating lawmakers on the significant benefits of the program, including its ability to move vacant properties back into commerce, create jobs, create new state and local tax revenue, provide a high return on investment for the State, stimulate preservation spending and preserve culture.
“We are extremely grateful to Governor Jindal, Senator Murray, Representative Leger, their colleagues in the legislature and Mayor Landrieu for their support of historic restoration projects in Downtown New Orleans and throughout the state,” says DDD President & CEO Kurt Weigle. “This program is absolutely essential to continuing the rate and level of development we are seeing Downtown right now.”
The program provides income and franchise tax credits worth up to 25 percent of the cost of restoration projects in downtown development and cultural products districts throughout the state.Read the full article at www.nola.com
Louisiana ranked #1 State of the Year Southern Business & Development
$3.4 billion invested Downtown since 2005
Downtown's population has doubled in the past 10 years to 5,100 residents. It is expected to double again by 2020.
New Orleans ranked #1 Most Improved on "Best Cities for Business" Wall Street Journal Marketwatch
Hungry? There are 176 restaurants and 32 sidewalk cafes in Downtown New Orleans
Looking for a place to live? There are 2,875 residential units Downtown and even more in the pipeline.
New Orleans is #1 Top City for Young Entrepreneurs 2011 Under30CEO.com
New Orleans ranked in top 10 "Next Cities" of the best places to live and work for young professionals Next Generation Consulting