Inner City New Orleans Profile (pre-katrina)
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1 Inner City New Orleans Profile (pre-katrina) Funded By: This presentation draws on proprietary data of the Initiative for a Competitive Inner City State of the Inner City Economies Project. Additional content is drawn from the work of the Institute for Strategy and Competitiveness Cluster Mapping Project at Harvard Business School, No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means - electronic, mechanical, photocopying, recording, or otherwise - without the permission of the Initiative for a Competitive Inner City. Additional information may be found at the website of the Initiative for a Competitive Inner City, 1
2 Inner Cities of 100 Largest Central Cities Seattle Tacoma Spokane Portland Minneapolis St. Paul Boise Madison Rochester Grand Rapids Milwaukee Detroit Buffalo Boston Des Moines Omaha Chicago Cleveland Toledo Lincoln Fort Wayne Akron Pittsburgh New York Denver Kansas City Indianapolis Columbus Jersey City Newark Cincinnati Sacramento Louisville Philadelphia Colorado Springs St. Louis Arlington Oakland Stockton Baltimore San Francisco Wichita Modesto Lexington Washington DC Richmond San Jose Fresno Norfolk Las Vegas Tulsa Nashville Virginia Beach Bakersfield Albuquerque Amarillo Oklahoma City Memphis Charlotte Los Angeles San Bernardino Raleigh Scottsdale Birmingham Atlanta Durham Long Beach Riverside Lubbock Mesa Irving Greensboro Anaheim Augusta Phoenix Fort Worth Dallas Winston-Salem Santa Ana San Diego Jackson Shreveport Columbus Tucson Arlington El Paso Austin San Antonio Baton Rouge Mobile Houston Corpus Christi Jacksonville New Orleans Orlando Tampa St. Petersburg Honolulu Anchorage Miami 2
3 Defining Inner City New Orleans Inner Cities are defined as core urban areas that are economically distressed. 1. Places of poverty - census tracts with 20% or greater poverty rates (or, compared to the surrounding metro area, 50% greater unemployment or poverty, or half the median income.) 2. Adjacent neighborhoods contiguous census tracts that contain significant population. New Orleans MSA New Orleans Central City New Orleans Inner City 3
4 New Orleans Demographics Snapshot (vs City) Inner City (Rank*) Entire City Total Population % Metropolitan Area Population High School Attainment College Attainment Minority Population Population 25 and under Homeownership Rate Poverty Rate 283,000 (17 th largest) 27% 66% (43) 17% (23) 85% (23) 41% (63) 36% (63) 38% (2 nd highest) 484,674 41% 75% 26% 72% 38% 41% 28% Income Density ($M per square mile) Unemployment Rate Median Household Income $54M (53) 13% (41) $19,900 (95) $46M 9.5% $27,100** *Source: 2000 U.S. Census. Note: ICIC ranks 100 large inner cities by the highest percentage or value in each category. Inner City and Metropolitan Area are exclusive categories. Household is as defined by the U.S. Census. **Metropolitan Area including inner city 4
5 New Orleans Demographics Snapshot (vs MSA) Inner City (Rank*) Metropolitan Area Total Population % Metropolitan Area Population High School Attainment College Attainment Minority Population Population 25 and under Homeownership Rate Poverty Rate 283,000 (17 th largest) 27% 66% (43) 17% (23) 85% (23) 41% (63) 36% (63) 38% (2 nd highest) 1,170,000 73% 81% 24% 34% 35% 69% 13% Income Density ($M per square mile) Unemployment Rate Median Household Income $54M (53) 13% (41) $19,900 (95) $7M 5% $27,300** *Source: 2000 U.S. Census. Note: ICIC ranks 100 large inner cities by the highest percentage or value in each category. Inner City and Metropolitan Area are exclusive categories. Household is as defined by the U.S. Census. **Metropolitan Area including inner city 5
6 New Orleans Business Base Inner City (Rank)* Metropolitan Area Total Jobs (Private only) Job Growth, 1995 to 2002 CAGR Total Establishments Establishment Growth, 1995 to 2002 CAGR Wage Growth, 1995 to 2002 CAGR 121,000 (24) -0.9% (61) 6,000 (20) -1.4% (67) 1.1% (55) 404, % 26, % 0.9% 2005 Business Startups (per 1000 establishments) 2004 Bankruptcies (per 1000 establishments) 13.6 (77) 1.1 (88) Note: 2002 data, except business bankruptcies are 2004 data and business startups are 2005 data. Inner City and Metropolitan Area are exclusive categories. *82 inner cities (those with IC population >50,000) are ranked by highest percentage or value in each category. 6
7 Largest Employers Inner City New Orleans, ,900 15,900 13,800 10,500 5,000 4,700 4,700 4,500 4,300 4,100 7 Local Hospitality Establishments Health Services Local Commercial Services Hospitality and Tourism Local Community and Civic Organizations Local Real Estate, Construction, and Development Education and Knowledge Creation Local Financial Services Financial Services Business Services ; ISC, Harvard Business School
8 Largest Job Gainers and Losers Inner City New Orleans, , ,000-1,100-1,300-2,000-2,200 8 Local Hospitality Establishments Local Utilities Entertainment Education and Knowledge Creation Distribution Services Local Logistical Services Local Health Services Transportation and Logistics Local Food and Beverage Processing and Distribution Local Commercial Services ; ISC, Harvard Business School
9 Roughly one third of jobs in inner city New Orleans are held by inner city residents, more than most inner cities. New Orleans Inner City Legend French Quarter Central Business District Convention Center New Orleans Inner City New Orleans Central City New Orleans MSA 9
10 New Orleans Inner City - ZOOM 22,000 5,400 1,400 Almost 30,000 inner city residents work in the French Quarter, Central Business District, and around the Convention Center Miles 10
11 Small Business Inner City New Orleans ( ) New Orleans-Metairie-Kenner, LA MSA( ) 20,500-3,000-1,400 9,200 11,200-8, Share of Employment 02 Share of Estab. Job CAGR Micro Small* Large < 20 < 500 > 500 employees employees employees 21% 79%* 21% 83% 99.6%* 0.4% -1.5% -1.2% -0.7% Micro Small* Large < 20 < 500 > 500 employees employees employees 27% 86%* 14% 85% 99.8%* 0.2% 1.2% 0.8% 2.9% *Includes Micro 11
12 Retail Spending Inner city New Orleans 283,000 residents spend roughly $1.8 billion each year on retail goods, with food and clothing comprising half of the total retail expenditure. 100% 80% 60% 40% 20% Total Income $3.4B Retail Spending $1.8B 11% 13% 25% Retail Spending 54% 51% Clothing Food away from home Food at home Other retail $204M $245M $450M $926M This inner city retail spending compares favorably with New Orleans largest industry, tourism ($5 billion annually). 0% 12
13 Retail penetration in inner city New Orleans is higher than the 100 inner city average Hospitality Establishments per 1,000 Residents (2002) IC New Orleans 100 inner cities Retail Clothing Jobs per 1,000 Residents (2002) Retail Food Stores Jobs per 1,000 Residents (2002) IC New Orleans 100 inner cities IC New Orleans 100 inner cities 13
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