New Orleans CBD is Booming

New Orleans CBD

New Orleans CBD

From the Advocate newspaper:

A report on the shift of jobs from downtowns to suburban areas shows that New Orleans and Baton Rouge rank above the national average for the percentage of private-sector employment either inside or just outside the central business district.

In New Orleans, 31.6 percent of employees worked in the Central Business District, compared with an average of almost 23.0 percent for the 100 largest U.S. metro areas, according to a report issued Thursday by the Brookings Institute’s Metropolitan Policy Program.

And while the number of jobs in New Orleans dropped from 2007 to 2010, the number of workers in the CBD actually increased by 3.7 percent during that period, going from 129,178 to 133,990. The share of jobs in the CBD increased from 29.8 percent in 2007 to 31.6 percent in 2010, though still shy of pre-Katrina levels. Only Chattanooga, Tenn., had a bigger percentage point increase in that period, going from 30.1 percent to 32.6 percent.

Michael Hecht, president and CEO of Greater New Orleans Inc., a regional economic development alliance that serves the 10 parishes around New Orleans, said the recent increase in jobs in the New Orleans CBD shows the repopulation of the urban center that is happening in the Crescent City.

Read the entire article here

We are seeing not just more people working downtown, but also an increase in interest in living in the CBD (Central Business District) and nearby neighborhoods like the Warehouse District and French Quarter.

I had a chance to speak to someone who moved here from New York recently and he said that living downtown was perfect for him. He doesn’t need a car to get to work and just about everything he needs is within walking distance or a quick streetcar ride away. That’s comforting for someone who moves here from a major metropolitan area that is used to a more urban lifestyle.

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