Greater New Orleans: Building on Competitive Advantages to Strengthen Economic Resilience
The NADO Research Foundation has released the latest installment of its case study series, Lessons from the Storm: Case Studies on Economic Recovery and Resilience. The series highlights how regional development organizations have used 2008 disaster recovery funds from the U.S. Economic Development Administration (EDA) to address the impacts of natural disasters, become more resilient to future events, and increase long-term economic competitiveness and quality of life in their regions. The newest case study describes how four organizations—Greater New Orleans, Inc., The Idea Village, the New Orleans BioInnovation Center, and the Downtown Development District of New Orleans—banded together after the New Orleans region was hit hard by Hurricanes Katrina, Rita, Gustav, and Ike and used EDA funding to diversify the economy by capitalizing on its unique competitive advantages. Two other case studies describe the East Central Iowa Council of Governments’ development of a revolving loan fund to help businesses purchase property and equipment and access working capital after the devastating floods of 2008 and Southwest Arkansas Planning and Development District’s efforts to create a comprehensive database of business and infrastructure information that will help its partner communities prepare for and rebound from future natural disasters.
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