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for Economic Development in New Orleans ANNUAL IMPACT REPORT


“New Orleans continues to experience unprecedented success in attracting new businesses, fostering an environment for entrepreneurship and creating opportunities for all of our residents. We have put a special focus on bioinnovation, retail and software technology business attraction, and our hard work is paying off. Since 2010 we have created over 15,000 new jobs, with over 900 in the digital media industry. I commend the New Orleans Business Alliance for partnering with both the City and business community to create diverse opportunities for all New Orleanians.”

–THE HONORABLE MITCHELL J. LANDRIEU MAYOR, CITY OF NEW ORLEANS

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FROM OUR LEADERSHIP 2016 was a historic year internationally, nationally and locally for many reasons. One theme that echoed across all regions was that the economic future of New Orleans is more important than ever to our fellow citizens. HENRY L. COAXUM, JR. Chair, Board of Directors

Fortunately, the City of New Orleans and City Council are actively engaged in securing the economic future of our city. The New Orleans Business Alliance (NOLABA) is an organizational response by Mayor Mitch Landrieu, the City Council and the local business community to address concerns for the city’s economical success. In 2016, the NOLABA Board of Directors, City Administration, City Council and local business community raised their expectations for NOLABA, and we answered their call. In this Annual Impact Report, we are proud to tell the stories of launching our #WhyNOLA campaign, creating dedicated workstreams in bioinnovation and small business, and welcoming the transformative young professional retention organization 504ward to NOLABA. We also highlight our continuing progress in business attraction and retention throughout the retail and software technology industries.

QUENTIN L. MESSER, JR. President & CEO

Much work remains to ensure that more New Orleanians realize in their own lives the economic expansion the city has experienced during the past decade. Alongside you, our investors, partner organizations and fellow citizens, NOLABA is committed to doing that work. After reading this report, we hope you will join us in our effort to create a sustainably growing local economy that provides greater economic security for more of our friends and neighbors. Economic development matters because people matter. As always, we remain humbled by and appreciative of your continued support. With great expectations for our shared future,

Henry L. Coaxum, Jr.

Quentin L. Messer, Jr.

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Please feel free to contact us at info@nolaba.org or 504.934.4500, or visit www.nolaba.org if you’d like to learn more about all the work we do to create a thriving, sustainable economic future for all New Orleanians.

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TABLE OF CONTENTS 4

TELLING OUR STORY

8

BIOINNOVATION

10

ENTREPRENEURSHIP

12

RETAIL

19

SMALL BUSINESS

22

SPECIAL PROJECTS

27

ACCOLADES

28

INVESTORS

29

FINANCIALS

30

TEAM

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“WHYNOLA CHANNELS OUR CITY’S GREAT STORYTELLING In 2016 NOLABA launched the WhyNOLA campaign to help tell the story that New Orleans is TRADITION a city focused on business. The ongoing multimedia, multi-channel campaign targets both local and external audiences to reposition the city as a place for business. THROUGH THE VOICES OF OUR The campaign’s message – that New Orleans offers the ideal intersection of commerce and BUSINESS culture – is told through the personal stories of local professionals and entrepreneurs who COMMUNITY.” chose to build their businesses or careers here. Blog posts and videos on NOLABA’s website, www.NOLABA.org, and social media channels highlight individuals from across the New Orleans economy. The videos garnered 21,728 unique views in 2016.

VOICES OF OUR COMMUNITY

“WhyNOLA channels our city’s great storytelling tradition through the voices of our business community to answer the questions we often get asked – ‘Why New Orleans? What makes New Orleans more than just a great place to visit?’” said NOLABA President & CEO Quentin L. Messer, Jr. Early participants included Port of New Orleans President & CEO Brandy Christian, Torsh CEO & Founder Courtney Williams, and AxoSim CEO & Co-Founder J. Lowry Curley. Partner engagement and paid media distribution are just two methods planned for 2017 to increase the campaign’s reach.

BROADENING THE NEW ORLEANS BRAND

The WhyNOLA campaign also fulfills an idea presented in ProsperityNOLA – the need to expand the city’s global reputation from solely a place to visit. “ProsperityNOLA identified the need to reposition the city as a place for business,” Messer said. “We feel it’s important to remind our friends and neighbors of the great things happening across the local economy. The more success stories members of the business community know, the greater capacity we all have to be economic development ambassadors. When business decision makers see business leaders, business owners and employees telling authentic stories of why New Orleans works for their careers or their businesses, it becomes a much more compelling conversation for us as economic developers.”

“REMIND OUR FRIENDS AND NEIGHBORS OF THE GREAT THINGS HAPPENING ACROSS THE LOCAL ECONOMY” 6 |

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DIGITAL COMMUNICATIONS REVAMPED NOLABA.ORG AND LAUNCHED NOLABIO.ORG

INCREASED OVERALL ONLINE IMPRESSIONS

507%

INCREASED REFERRALS TO NOLABA.ORG “NOLABA FROM EXTERNAL .ORG” SOURCES

66%

INCREASED CLICKS TO NOLABA.ORG FROM SEARCH ENGINES

308%

INCREASE IN FACEBOOK LIKES

21,728

UNIQUE VIDEO VIEWS FOR #WHYNOLA CAMPAIGN 8 |

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“NOLABA .ORG”

2.5M RETWEET REACH

38% 80

E-BLASTS FOCUSED ON NOLABA NEWS AND EVENTS


MEDIA RELATIONS • Inaugurated bimonthly column in Healthcare Journal of New Orleans on economic development in Bio & Health Services Innovation • Continued monthly column in New Orleans CityBusiness on economic development and why it matters to New Orleans’ prosperity • Monthly guest appearance on WWL-TV Eyewitness Morning News • Featured in 389 news stories related to the city’s economic progress • More than two dozen bylined articles by NOLABA staff in local and industry/trade media

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A BOOST FOR BIO NOLABA formalized its commitment to building a thriving bio and health services innovation cluster for Orleans Parish in 2016. Hiring Amritha Appaswami as NOLABA’s first director of business development for this industry cluster helped put that dedicated approach in motion.

THE NEW ORLEANS BIOINNOVATION CENTER

Appaswami is Louisiana’s only economic developer focused solely on the bio cluster. Her move to New Orleans followed stints in London, Amsterdam, San Francisco and Minneapolis since leaving her native India. As a result of her hard work, in 2017 NOLABA will present a concrete plan to increase employment and wealth creation related to our healthcare sector.

“The good news for New Orleans is that bio is relatively labor-intensive, providing employment opportunities at every point on the educational spectrum, from high school graduates to post-doctoral fellows,” Appaswami said. “One reason I am here is to join at the elbow with other organizations to fully leverage this potentially transformative economic opportunity in our city. We have seen unprecedented federal, state and local investment in public infrastructure assets like Louisiana Cancer Research Center, New Orleans BioInnovation Center, New Orleans East Hospital, the new VA Health System and University Medical Center.”

THE CITY’S TWO MEDICAL SCHOOLS... AND NEW ORLEANS’ VIBRANT FOR SUCCESS TECHNOLOGYAThePLAN strategy Appaswami is working to execute alongside the City of New Orleans, GNO, Inc. SECTOR PLAY AN and other stakeholders focuses on four areas of job and wealth creation opportunity: digital INTEGRAL PART INdestination health, medical tourism and advanced manufacturing of bio-industrial health, and biomedical products used throughout the healthcare supply chain. GROWING THE BIO INDUSTRY.

Appaswami also contributes a regular column to Healthcare Journal of New Orleans. She sees promise for short-term, mid-term and long-term growth in clinical and commercial activity in New Orleans. The city’s two medical schools (a distinction only 14 other U.S. cities can claim) – Tulane and LSU – and New Orleans’ vibrant technology sector play an integral part in growing the bio industry. “Louisiana offers the most aggressive software development tax incentive in the nation – a 25 percent tax credit that’s open to companies developing digital interactive products or platforms in Louisiana,” Appaswami said. “So New Orleans offers a powerful attraction to companies looking to improve the bottom line in a resource-intensive industry and reduce the burn rate for cash-strapped startups.”

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SELECT LABORATORY SOFTWARE In June 2016, Select Laboratory Software became the second North Carolina-based tech firm in two years to expand to New Orleans, a year after the promise of the city’s economic future inspired Smashing Boxes to give New Orleans a vote of confidence. Select Laboratory Software is a partner of Select Laboratory Partners and develops cloud-based medical laboratory software used in toxicology and clinical laboratories across the nation. Select Laboratory Software’s New Orleans office on Poydras Street is managed by Louisiana native Ryan Williams, who said he was thrilled to come home and lead this new office.

“THIS IS THE PERFECT PLACE FOR US TO GROW, AND IT’S WONDERFUL TO BE ABLE TO PROVIDE THESE OPPORTUNITIES CHOOSING NEW ORLEANS OF THE CITY.” “Expanding into New Orleans, we are excited toFOR see thereTHE is a strongRESIDENTS talent pool alongside the great food, music and culture,” said Williams, Vice President of Research and Development. “This is the perfect place for us to grow, and it’s wonderful to be able to provide these opportunities for the residents of the city.”

NOLABA Director of Business Development Louis David explained the state’s digital media and software development incentive to Select Laboratory Software leaders, showing the impact it could make to the company’s bottom line. David also helped the company with its search for local office space and recruiting local talent.

“WE DEFINITELY MADE “The colleges and universities in the area have good programs, and OperationTHE Spark hasRIGHT DECISION a great program with Hack Reactor that creates a lot of ready-to-hire software developers,”MOVING HERE.” Ryan Williams, Williams said. “Two of our hires are from their programs. New Orleans has a wonderful software development community, encouraging startups and sharing expertise. We definitely made the right decision moving here.”

Select Laboratory Software RYAN WILLIAMS Select Laboratory Software

A WIN FOR BIO

Quentin L. Messer, Jr., President & CEO of NOLABA, said Select Laboratory Software’s expansion shows great strides in the bio and health services innovation sectors of New Orleans. “This software solution provider develops leading-edge practice options for local clinicians and creates new job opportunities for local residents in a high-growth, high-wage field,” Messer said. “Select Laboratory Software’s decision to expand here demonstrates New Orleans’ increasing attractiveness for healthcare IT companies and bioinnovation entrepreneurs.” NOLABA 2016 IMPACT REPORT

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ATTRACTING GREAT MINDS Business attraction is a multi-year process, a long game that requires strategy and persistence to execute masterfully. NOLABA’s business development staff spent 2016 cultivating interest in the New Orleans market by telling the New Orleans story to prospects and addressing challenges that businesses face within the city’s fast-growing creative digital media target cluster.

VALMIKI 504

Access to capital is a requirement for any new business, and NOLABA spent nearly a year working to secure a location announcement from Valmiki Capital Management. Because Valmiki is a New York-based asset management company, New Orleans was not immediately at the top of its list of possible expansion cities. However, after NOLABA facilitated extensive connections in the local investment, technology and entrepreneurial ecosystems, Valmiki could not ignore the opportunities in New Orleans. Since its announcement in January 2016, Valmiki has invested in several local startups in a wide range of industries.

VALMIKI COULD NOT IGNORE THE OPPORTUNITIES IN NOLABA’s 2016 business attraction efforts included recruiting events in California, New York, ORLEANS. North Carolina and Texas in addition to hosting multiple events inNEW New Orleans. NOLABA EVENTS

also attended major technology industry events around the world to encourage growing companies and entrepreneurs to consider New Orleans and identify new business attraction prospects. Those events included LAUNCH Festival (San Francisco), South by Southwest (Austin, Texas), Great States Summit (Dallas, Texas) and Web Summit (Lisbon, Portugal).

Collision is the North American offshoot conference of Web Summit, which has grown from 4,000 to 22,000 attendees since 2010. Collision is the fastest-growing technology conference in the U.S., and it celebrated its most international conference to date in 2016 when NOLABA co-hosted its New Orleans debut along with Louisiana Economic Development, GNO, Inc. and the Convention & Visitors Bureau. More than 11,000 people from 100+ countries attended Collision in 2016, almost 4,000 more than 2015, when the technology summit was in Las Vegas. It took place April 26-28 at the Ernest N. Morial Convention Center between Jazz Fest weekends, increasing the attendees’ enthusiasm for traveling to and exploring New Orleans. Collision’s relocation to New Orleans was so successful that organizers announced their commitment to return to the city in 2017 and 2018. New Orleans became the conference’s top pick after representatives toured more than a dozen other cities.

NEW ORLEANS BECAME THE CONFERENCE’S TOP PICK 12 |

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SCENEHOUND Michael Underwood had no idea how much he would learn about New Orleans’ business climate and startup culture when he visited in late 2015 for the inaugural IDEAtour, which NOLABA co-hosts with The Idea Village and GNO, Inc. What Underwood saw was an entrepreneur community he wanted to join. His company, Scenehound, took off in New Orleans in 2016. Underwood said the resources for startup companies that NOLABA showed him, including potential investors and relevant industry connections like the Louisiana Restaurant Association, sealed the LSU graduate’s decision to move to New Orleans instead of Austin, Texas. Scenehound is a mobile app that displays real-time data for users about crowd levels at their favorite restaurants, bars and venues. “The IDEAtour really opened my eyes to how close-knit the entrepreneur community in New Orleans is,” Underwood said. “The details of the tour with the state tax incentives, networking and community here were really attractive to me. I’ve been extremely fortunate to work with New Orleans Business Alliance, Idea Village and GNO, Inc. to meet other people and have access to programs to improve me as a business owner.”

MICHAEL UNDERWOOD Founder of Scenehound

Michael Underwood, CEO, Scenehound

“THE IDEATOUR REALLY OPENED MY EYES TO HOW CLOSE-KNIT THE THE APP Customers use Scenehound to rate how full a restaurant or bar is asENTREPRENEUR well as the male-toCOMMUNITY female ratio of the crowd. Exclusive offers from local venues are also included in theIN user NEW ORLEANS IS.” display. The idea for the app was born in 2009, Underwood said, when he entered a crowded bar and didn’t like the ambiance.

“A group of my friends twisted my arm to go out on a random Wednesday night, and the bar we went to was packed. It took forever to get a drink, elbow to elbow, and I couldn’t even talk to my friends because it was so loud,” he said. “So I wondered – what if I knew how busy bars and restaurants were before I ever left the house?” Underwood said his company is using the model of its success in New Orleans to expand to other cities. First on the agenda is Columbus, Ohio, in February 2017. “We’re going to see how long it takes to start up in Columbus,” Underwood said. “In New Orleans it took us approximately nine months to really get it going. We obviously learned a lot, and we want to create a model we can duplicate over and over and over again.”

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A RETAIL RENAISSANCE ICSC RECON

NOLABA’s aggressive retail attraction efforts continued in 2016 by leading the annual New Orleans delegation at the International Council of Shopping Centers (ICSC) RECon conference in May. NOLABA’s presence at RECon has grown dramatically since its original participation in 2012. RECon 2016 brought 11 sponsors/partners from the real estate community – NOLABA’s most ever – at the booth promoting “New Orleans: A Retail Renaissance.” Mayor Mitch Landrieu’s Senior Advisor for Economic Development Rebecca Conwell and Business Services Director Ernest Gethers attended, along with New Orleans City Council members Jared Brossett, James Gray and Nadine Ramsey. With more than 36,000 attendees, it was the largest RECon conference in the post-recession era. “Last year was a banner year for meetings scheduled in the booth,” said Brenda Canada, NOLABA Vice President of Retail Attraction, Development and Strategy. “And our posters and artwork showing retail successes across the city were the best we’ve ever had. Other economic development organizations stopped by and commented that we had raised the bar on economic development booths at the conference. We’ve come a long way from our initial 10x10 booth that was so crowded you could only seat two people at a time for a meeting.”

“LAST YEAR WAS A BANNER YEAR ADDITIONAL FOR MEETINGS OUTREACH EVENTS SCHEDULED...”Other ICSC involvement in 2016 included the Texas Deal Makers Conference in October.

NOLABA secured a deal-making table for the first time at the Texas conference that allowed for successful meetings with retailers, developers and brokers from a multi-region area. “A lot of people stopped by to inquire about opportunities in New Orleans,” Canada said. Canada also represented NOLABA in December at the New York National Deal Making Conference, and she was a program planning committee chair for the first ICSC Food for Thought Conference in Austin, Texas, in March 2017. She organized a panel of economic development influencers discussing the role of restaurants and food concepts in urban revitalization.

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NORDSTROM RACK

“ONE OF THE BIGGEST SECRETS WE’VE HAD TO KEEP.”

Since NOLABA’s inception, Nordstrom was one of the retailers most requested by New Orleans residents. When an opportunity opened at The Outlet Collection at Riverwalk, NOLABA’s Brenda Canada connected with Nordstrom Rack to promote the downtown retail center as the ideal site of the retailer’s first New Orleans location. Canada, NOLABA Vice President of Retail Attraction, Development and Strategy, set the site selection process in motion more than two years ago. The two-level store opened to much fanfare in October, demonstrating NOLABA’s long-range commitment to retail development in New Orleans.

“WE ARE SHOWING THE WORLD THAT NEW ORLEANS CAN MULTIFACETED SIGNIFICANCE SUPPORT AND SUSTAIN “It was one of the biggest secrets we’ve had to keep. Not being able to even hint for almost NATIONALLY a year that they were coming to the market was incredibly difficult,” Canada said. “The Outlet Collection at Riverwalk has been instrumental in the retail renaissance that continues across RECOGNIZED RETAILERS.” New Orleans. Every new retailer that opens, in any neighborhood, improves the amenities available to our residents and visitors, increases our tax base, and helps us achieve a more stable and sustainable economy.”

Nordstrom Rack is the off-price retail division of Nordstrom, Inc., offering everyday savings of 30 to 70 percent. The New Orleans store is approximately 35,000 square feet and serves as the second anchor at the Outlet Collection in addition to Neiman Marcus Last Call.

PROOF OF PROGRESS

Before the store opened to the public, NOLABA hosted a real estate breakfast at the Riverwalk, giving the New Orleans commercial real estate community a sneak peek before the grand opening. Mayor Mitch Landrieu called the opening “a big win for the city.” “Together with the New Orleans Business Alliance, we’ve put a focus on attracting new retail to our city, and this is another sign that our plan is working,” Landrieu said. “We are showing the world that New Orleans can support and sustain nationally recognized retailers.”

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TRUE RELIGION Historic Canal Street took a huge first step in returning to its roots as a major shopping destination when True Religion, a high-end international jeans retailer, opened in June 2016. Situated at the landmark corner of Canal and Bourbon streets, True Religion’s new location serves as a catalyst for continued retail growth in the area. “We are so proud to be part of the rejuvenation of this historic corridor,” True Religion CEO John Ermatinger said. “We have a wide variety of consumers and feel that the Canal Street location is at the perfect intersection to celebrate our brand.” NOLABA’s Brenda Canada said True Religion’s opening the 1,936-square foot store is yet another example of New Orleans’ retail revitalization. The flagship store was the first U.S. store to debut the brand’s Endless Aisle tech initiative.

FIRST ENDLESS AISLE IN THE U.S.

The store includes a 42-inch big screen that offers real-time access to the retailer’s full inventory, and it features the brand’s latest Black Book technology, allowing sales staff to access customers’ purchase history and better assist with making selections. True Religion debuted this technology and layout for the first time in the U.S. at the Canal Street store. “Many of the site selectors for the national brands love New Orleans but haven’t fully realized its potential for retail growth, especially for the more upscale brands,” Canada said. “But once they visit and experience the changes taking place they become enthusiastic supporters of bringing their concepts to the city. We’ve seen some very specific successes. We all know that nothing attracts retailers to an area more quickly than a successful retail resurgence.”

UNIQUE FLAGSHIP SITES

Canada said True Religion’s site selector and vice president loved the Canal Street spot and New Orleans’ young, fresh market for retail when they toured the city.

HISTORIC CANAL STREET TOOK A HUGE“There are more than 10 million tourists in a very small area, and everybody walks by that FIRST STEP IN corner at some point, both locals and tourists,” Canada said. “Downtown New Orleans has seen a major transformation from a weekday business and tourism-oriented environment to RETURNING TO a thriving work-live-play destination.” ITS ROOTS AS A MAJOR SHOPPING DESTINATION 18 |

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MARSHALLS & PETCO

“NEW ORLEANS IS EXPERIENCING A LEVEL OF Marshalls’ grand opening at the North Carrollton Shopping Center in October 2016 meant RETAIL THAT more than just another national retailer expanding to New Orleans. The first MarshallsPROSPERITY in HAD BEEN MISSING Orleans Parish also created 60+ new jobs. FOR DECADES.” The popular discount clothing and home goods retailer opened Oct. 27 inside a 20,000-square-foot space in the shopping center’s main building, which was redeveloped by First Hartford Realty Corp. It sits across from the $40 million Mid-City Market, which was developed by Stirling Properties and opened in 2013. Petco soon joined Marshalls at the North Carrollton location, celebrating its grand opening two days later. The national pet supplies retailer unveiled its new store in a 12,500-squarefoot space, completing the redevelopment of a former hardware store.

THE RENAISSANCE AT WORK

NOLABA’s Brenda Canada said these robust additions in Mid-City help New Orleans keep pace with other successful retail cities. The convenient neighborhood location adjacent to the Carrollton streetcar line provides shopping opportunities to New Orleans residents who prefer using public transportation. “We’re returning to our roots as a great city with great retail,” Canada said. “New Orleans is experiencing a level of retail prosperity that had been missing for decades. The addition of Marshalls and Petco will serve as a catalyst for continued retail growth in all neighborhoods of the city.”

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SMALL BUSINESS, BIG IMPACT More than 90 percent of Orleans Parish employers have fewer than 25 employees. Small businesses like these are in many ways the heart and soul of the city’s economy. NOLABA worked harder than ever in 2016 to support and encourage small business success, hiring Lynnette White-Colin to direct a dedicated small business ecosystem development workstream. Funding support from Surdna Foundation and JPMorgan Chase made this possible.

GOALS AND VISION

This specific area continues the implementation of ProsperityNOLA, the city’s five-year strategic plan for economic growth launched in 2013. White-Colin’s hire has spearheaded the organization’s increased focus on equity as a growth strategy, a major tenet of ProsperityNOLA.

INCREASED FOCUS ON EQUITY GROWTH STRATEGY “One of our main concerns is to make sure the AS needs ofA small business owners are answered effectively to ensure their sustainability and ultimately, success,” White-Colin said. “Very often, critical needs of our minority and women-owned businesses are not addressed. There are a number of reasons.

“In many instances, the business owner is the only employee; they cannot afford time away from the business to obtain the assistance they need. Often, they are just not aware that technical assistance is available and very often is free. And still other times, they are just not knowledgeable about what they actually need. My goal is to utilize my many years of experience to assess what they really need and then get them to the most effective assistance available.”

A PLAN IN ACTION

In 2017 NOLABA will host a “Small Business Roundtable” comprised of small business stakeholders and advocates to address and seek resolutions to complex barriers to growth and help improve the sustainability of minority and women-owned ventures. “It’s a very inclusive effort with a cross-sector group of dedicated stakeholders in the city,” she said. White-Colin came to NOLABA after leading the Women’s Business Resource and Contractors Resource Centers at the Urban League of Louisiana. NOLABA President & CEO Quentin Messer, Jr. said White-Colin’s expertise and reputation in the small business development arena are invaluable for creating new growth opportunities in the city.

“MY GOAL IS TO UTILIZE MY MANY YEARS OF EXPERIENCE TO ASSESS WHAT THEY REALLY NEED “By connecting Main Street small business owners to crucial resources that aid in building AND THEN GET THEM TO their capacity, and working to enhance opportunities for them by identifying procurement THE MOST EFFECTIVE contracts with larger companies and institutions, NOLABA will help to grow businesses and ASSISTANCE AVAILABLE.” create more employment for our local residents,” he said. NOLABA 2016 IMPACT REPORT

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MAIN STREETS ON A MISSION Commercial corridor revitalization through programs like Broad Community Connections and Claiborne Corridor Initiatives are critical to NOLABA’s small business development goals. Lynnette White-Colin recalled how corridor revitalization strategies emerged after Hurricane Katrina to revive “Main Streets” throughout the city. Those included Oretha Castle Haley Boulevard, Broad Street, Rampart Street, Oak Street and St. Claude Avenue. She previously led efforts to launch the Crescent City Community Land Trust, an aspect of the O.C. Haley resistance plan to preserve key real estate assets in low-wealth neighborhoods.

“IF WE CAN RETURN KEY COMMUNITY ASSETS BACK TO COMMERCE, IT WILL ATTRACT MORE ECONOMIC GROWTH.”

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“I am actively involved in revitalizing some of the commercial corridors in disinvested neighborhoods,” she said. “This is important because our small businesses serve a big purpose in those communities, where huge voids in investment backings exist for retail and other commercial services. Small business owners can fulfill some of the resources needed in the absence of supermarkets and other big infrastructures.”

“WE NEED THIS KIND OF GROWTH IN ALL NEIGHBORHOODS “We are looking forward to helping develop successful strategies that will jump-start ACROSS THE CITY.” Developing strategies to transform these commercial corridors into economic success stories is a long-term project, White-Colin said. Growth efforts even extend to the historic district in Algiers along Newton Street.

revitalization on these crucial commercial corridors in New Orleans neighborhoods,” she said. “I think we’ll start to see some real development that will have far-reaching impacts. If we can return key community assets back to commerce, it will attract more economic growth. We need this kind of growth in all neighborhoods across the city.”

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BIG STRIDES FOR A BETTER NEW ORLEANS ENGAGED INVESTORS

It was a banner year for investor relations at NOLABA in 2016 because even more local businesses decided to support the organization’s mission to drive economic performance in Orleans Parish. NOLABA also enhanced its investor communications. In June NOLABA held its first investor lunch, where the team provided a mid-year update. In September NOLABA launched quarterly investor webinars.

AEDO CERTIFICATION

As part of NOLABA’s efforts to elevate and increase its impact, the organization engaged in an exhaustive application process to become an Accredited Economic Development Organization (AEDO). Sponsored by the International Economic Development Council (IEDC), the AEDO program recognizes professional excellence among economic development organizations. The AEDO process offered NOLABA the chance to measure its performance against the best economic development organizations worldwide, and improve upon national best practices.

“A PROFESSIONAL, INTENTIONAL AND INDEPENDENT ECONOMIC DEVELOPMENT ORGANIZATION” “Obtaining AEDO status says to the New Orleans community and business prospects that

New Orleans possesses a professional, intentional and independent economic development organization and lends additional credibility to institutionalized economic development in the city,” said NOLABA President & CEO Quentin L. Messer, Jr. Fewer than 60 economic development organizations in the world, and only three in Louisiana (Jefferson Parish Economic Development Commission, North Louisiana Economic Partnership and Shreveport’s Coordinating and Development Corporation), have achieved this prestigious distinction. NOLABA staff began the accreditation process by compiling a nearly 600-page written submission that documents the organization’s strategy, development, structure and activity. A site visit to assess the organization in action occured in April 2017, followed by news of official accreditation.

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IEDC LEADERSHIP SUMMIT

NOLABA led the host committee for the International Economic Development Council’s 2016 Leadership Summit in New Orleans and participated in various panels and presentations. The Summit’s theme was Resilient Communities: Pathways to Diverse Economies and Innovative Ecosystems, and it was one of the most well-attended Leadership Summits in recent history.

ONE OF THE MOST WELL-ATTENDED LEADERSHIP SUMMITS IN RECENT HISTORY

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FOSTERING PARTNERSHIPS ANCHOR COLLABORATIVE

In partnership with The Network for Economic Opportunity and Greater New Orleans Foundation, NOLABA continued to co-convene the Anchor Collaborative, a partnership of 15 major local employers committed to expanding employment and contracting opportunities to local residents and businesses. In 2016, the Anchor Collaborative created Advisory Boards to increase and streamline business engagement in local workforce development efforts.

INCREASE AND STREAMLINE ENGAGEMENT YouthForce NOLA and EMPLOY are key implementation partners to theseBUSINESS Advisory Boards. Together, the solutions the Anchor Collaborative and its Advisory Boards developed are informing investments and policies of the public workforce system.

EVENTS

INFORM INVESTMENTS AND POLICIES

NOLABA organized several special events in 2016 to foster economic and business partnerships. For example, in September NOLABA partnered with Fishman Haygood LLP, LifeCity and Propeller to hold a workshop at Propeller that educated attorneys, entrepreneurs and businesses about the Louisiana Benefit Corporation and the process and benefits of earning Certified B Corp status.

FOSTER ECONOMIC AND BUSINESS PARTNERSHIPS

In October NOLABA joined Postlethwaite & Netterville to host a Lunch and Learn seminar at the Four Winds New Orleans about the FLSA Overtime Rule and the actions for employers when the U.S. Department of Labor increased the salary level required to qualify for overtime. Close to 40 business owners, chief financial officers, controllers and human resource professionals attended.

EXECUTIVE SERVICE CORPS

JPMorgan Chase selected New Orleans as the second domestic location for the JPMorgan Chase Executive Service Corps in May 2016. NOLABA then applied to host a team of Executive Service Corps members, who are top employees from around the world. NOLABA was one of four nonprofits JPMorgan Chase selected.

COLLABORATING WITH THE CITY

NOLABA partnered with the City of New Orleans to facilitate meetings with City officials for the Executive Service Corps members so they could gain information and make recommendations for NOLABA to maximize the competitiveness of the City’s incentives.

MAXIMIZE COMPETITIVENESS

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504WARD NOLABA took another step ahead in the national race for talent in 2016 when the nonprofit collaborative initiative 504ward moved to NOLABA’s offices with its new Executive Director Mary Matthews. Launched in 2008, 504ward works to keep talented young professionals in New Orleans and help the city thrive and grow. 504ward connects members to key people and jobs through events like industry-specific Happy Hours, Company Connects and Dine-Arounds. “Talent attraction and retention are crucial parts of successful economic development,” Matthews said. “By being co-located with NOLABA, we can collaborate more successfully and offer the resources New Orleans has, including 504ward, to people and companies that want to expand or move here.”

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NOLABA 2016 IMPACT REPORT


RECOGNITION FOR NOLABA Award-winning people create an award-winning organization, and NOLABA is proud to recognize our staff distinctions in 2016. In September, NOLABA earned a Gold Excellence in Economic Development Award for ProsperityNOLA: A Plan to Drive Economic Growth for 2018 in the category of Multi-Year Economic Development Program from the International Economic Development Council (IEDC). IEDC is the world’s leading organization for economic developers. These awards recognize the best economic development programs, partnerships, marketing materials and influential leaders annually. ProsperityNOLA is the first comprehensive development plan in New Orleans’ recent history and is organized around seven themes to drive economic growth by the city’s Tricentennial in 2018. IEDC 2016 Board Chair Barry Matherly praised NOLABA for the Gold award, which was presented Sept. 27, 2016 at the IEDC Annual Conference in Cleveland, Ohio. “Not only did NOLABA work to provide a necessary service to their community, but also, their participation in the awards program sheds light on their stellar projects which other communities can now use as a benchmark,” Matherly said. Below are other individual awards and nominations presented to NOLABA staff in 2016, ranging from local media honors to graduations from prestigious leadership institutes. Downtown Development District New Orleans All-Star: Brenda Canada CityBusiness Women of the Year: Brenda Canada New Orleans Leadership Institute: Louis David Bryan Bell Metropolitan Leadership Forum: Alejandra Guzman and Katy Dupre Norman C. Francis Leadership Institute: Quentin L. Messer, Jr. Loyola University’s Institute of Politics: Quentin L. Messer, Jr. Millennial Award nominees: Louis David (digital media) and Alejandra Guzman (economic development)

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2016 INVESTORS LEADERSHIP INVESTORS ($20,000 AND ABOVE) City of New Orleans Entergy First NBC Bank Harrah’s New Orleans JPMorgan Chase Foundation LCMC Health

Leslie Jacobs Shell Oil Company Surdna Foundation U.S. Economic Development Administration W.K. Kellogg Foundation

FOUNDATIONAL INVESTORS ($10,000 - $19,999) Barriere Construction Co., LLC Business Council of New Orleans & The River Region Capital One Coaxum Enterprises, Inc. Goldring Family Foundation Helis Oil & Gas Company, LLC IBERIABANK

Jones Walker Laitram, LLC Liberty Bank RazorLine, LLC Transdev Services, Inc. Whitney Bank

PARTNER INVESTORS ($5,000 - $9,999) Adams and Reese, LLP Baker Donelson Bellwether Technology Boh Bros. Construction Co., LLC Canal Barge Company, Inc. Downtown Development District Enwave USA (New Orleans) Fogo Data Centers HCA MidAmerica Division HRI Properties The Kearney Companies, Inc. Laurel Outdoor

New Orleans Board of Trade Phelps Dunbar, LLP Port of New Orleans Postlethwaite & Netterville Regions Bank Stirling Properties, LLC Stone Pigman Walther Wittmann, LLC Transcendent Legal Transoceanic Development, LLC Tulane Health System Mr. and Mrs. Thomas K. Winingder Woodward Design+Build

SUPPORTING INVESTORS (UP TO $5,000) ADP Algiers Development District Algiers Economic Development Foundation Annala + Wills, LLC The Boeing Company Rebecca Conwell The Domain Companies Ernst & Young, LLP First Hartford Realty Corporation Health Education Authority of Louisiana Howard Hughes Corporation Hyatt Regency New Orleans 30 |

NOLABA 2016 IMPACT REPORT

John C. Hope III Mathes Brierre Architects MCC Real Estate Group Mr. and Mrs. Quentin L. Messer, Jr. Perez Architects PSAV Aimee M. Quirk Sherman Strategies, LLC Signs Now Solomon Group Southwest Airlines


FINANCIAL STATEMENTS*

OPERATIONAL REVENUE City of New Orleans

(Includes: Restricted funding to Greater New Orleans, Inc.)

$1,500,000

Private Investment & Foundations 653,600 (Includes: Restricted funding for 504ward and small business development) Government Grants (pass-through)

(Includes: Pass-through grants with partner organizations)

Other Revenue

(Includes: Interest, fee for service and miscellaneous revenue)

TOTAL OPERATIONAL REVENUE

466,400 44,600 $2,664,600

OPERATIONAL EXPENSES Business Development

(Includes: Digital media and bio attraction, business retention and expansion, retail attraction & development)

$629,600

Government Grants (pass-through)

466,400

Marketing & Communications

421,000

Finance & Operations

417,400

Program Development

284,900

Investor Relations

204,500

504ward

134,400

Economic Competitiveness

126,900

(Includes: Pass-through grants with partner organizations)

(Includes: Marketing and public relations efforts)

(Includes: Financial management, administrative and support services)

(Includes: Research, financial analysis, bio and ProsperityNOLA implementation)

(Includes: Financial management, administrative and support services)

(Includes: 504ward initiative)

(Includes: Economic research, marketing support and program support services)

TOTAL OPERATIONAL EXPENSES

$2,685,100

*Unaudited as of the date of this report NOLABA 2016 IMPACT REPORT

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2016 BOARD OF DIRECTORS EXECUTIVE COMMITTEE Henry L. Coaxum, Jr., Chair

President, Coaxum Enterprises, Inc.

Aimee Quirk, Vice Chair CEO, innovationOchsner

Justin T. Augustine III, Treasurer Vice President, Transdev Services, Inc.

Michael W. Kearney, Sr., Secretary

BOARD MEMBERS

President & CEO, The Kearney Companies, Inc.

Kim Boyle

Hon. Mitchell J. Landrieu*

Partner, Phelps Dunbar, LLP

Mayor of the City of New Orleans

R. Erich Caulfield, PhD

Charles Rice

Founder & President, The Caulfield Consulting Group

President & CEO, Entergy New Orleans, Inc.

*Rebecca Conwell (Mayoral Designee)

Senior Advisor for Economic Development, City of New Orleans

Gregory Feirn

CEO, LCMC Health

Darlene Kattรกn

Owner, KATTรN Business and Consulting Services

Rita LeBlanc

Owner, Bold Sphere

Thomas Mabon

Senior Vice President & Business Banking Group Manager, IBERIABANK

Gregory Rusovich

CEO, Transoceanic Development, LLC

Michael Smith

General Manager, Hyatt Regency New Orleans

Richard Tallant

Asset Manager - Gulf of Mexico East, Shell Exploration & Production Company

Hon. Jason R. Williams

Councilmember-at-Large, New Orleans City Council

Robert Wollfarth

Shareholder, Baker Donelson

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NOLABA LEADERSHIP & STAFF EXECUTIVE LEADERSHIP Quentin L. Messer, Jr., President & CEO

Tim Hemphill,

Chief Administrative Officer

STAFF Amritha Appaswami,

Director of Business Development and Strategy, Bio and Health Services Innovation

Brenda Canada,

Vice President of Retail Attraction, Development and Strategy

Louis David,

Director of Business Development and Strategy

Katy Dupre,

Manager of Economic Competitiveness

Cameron Eaton,

Director of Marketing

Amy Ferguson,

Director of Communications

Dominique Flugence, Finance Associate

Alejandra Guzman,

Director of Special Projects

Lisa Hellrich,

Special Assistant to the President & CEO

Mary Matthews,

Executive Director of 504ward

Ken Weatherup,

Director of Human Capital and Culture

Lynnette White-Colin,

Director of Small Business Ecosystem Development

Rachel Whittaker,

Marketing Communications Associate

Jessica Williams, Programs Associate

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OUR MISSION

To unite a diverse community of stakeholders to catalyze job growth, create wealth, and build an equitable and sustainable economic future for New Orleans.

OUR VISION

To reposition New Orleans as the next great American city for business investment, quality of life and economic opportunity.

for Economic Development in New Orleans

Profile for New Orleans Business Alliance

NOLABA 2016 Annual Report  

NOLABA 2016 Annual Report  

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