Economic Development and the Redevelopment of Louisianna

Bibliography

1. http://www.dred.state.nh.us/

2. http://www.lded.state.la.us/

3. http://www.rer.org/politicalaction/policyissues/taxes/2005_Katrina_Redevelopment_Letter.cfm

4. http://www.iedconline.org/

Economic Development

Economic development as it relates to planning can be best described as the actions taken by local governments and community-based organizations to enrich or stablize business activity. Economic development activities are used by local governments in order to strengthen their economy. Jobs, income, and overall prosperity within a community have proven to be a relentless challenge in today's

society. In efforts to greet these challenges, economic developers use a wide range of tools including areas of public and private finance, planning, politics, construction, economics, and real estate. Regaurdless of the economic health of a city the science of economic development does not go unappreciated. Communities suffering economically may focus their development on strengthening the economy, where a city with a stable economy may focus on maintaing that economic comfort. Enbraced within the pursuit of economic prosperity, economic developmers focus efforts on creating better education, more healthcare, and environmental

protection.

Economic development has become a highly professional industry made up of specialist working in both public and private factions. In both cases, efforts are generally funded by local or federal tax dollars. Economic developers are given funding to formulate new business growth opportunity in addition to maintaining the exsisting business community.

The violent rage of Hurricane Katrina produced countless haunting images seen in every magazine on every shelf, in every corner store worldwide. The recovery from this catastrophic disaster brings with monumental challenges and harsh realities. These challenges include the rebuilding of homes, businesses, and infrastructure. The blessing is that the opportunity for change has presented itself. In New Orleans, redevelopment could turn low-lying areas into parks and reserves. A new transit system may be implemented in order to reduce safety risks. New Orleans may replace destroyed communities with resorts, golf courses, boat harbors, and other tourist attractions.

A conference held in Baton Rouge by the Louisiana Economic Development Secretary was attended by officials from Empire State Development, New York’s department of economic development. The conference was held in order to discuss the redevelopment of New Orleans. Since 9/11 the redevelopment of New York City has been an efficient process and although the structural devastation in the Gulf Coast is much larger, state officials felt the presence of Empire State Development was crucial. The conference outlined the importance of maintaining a coordinated effort on all levels of government as well as with the private organizations. New York officials suggested that time to produce a new plan for redevelopment is important to assure the right steps will be taken. “There is so much hope for future rebuilding for this great region, making it better and stronger than it was before.”- Empire State Development COO, Eileen Mildenberger.

For generations industries such as Oil, Durable Goods, and Transportation have proven to be the backbone of the economy. Louisiana is the nation’s largest producer of oil contributing upwards of $95 Billion a year to the economy. Louisiana is responsible for more then 27 percent of the nations oil output. However, in the new Louisiana, new options must be explored. The Louisiana Department of Economic Development has invested time and research into the development